What are the savings you can make with electric vehicles during high gas prices?

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I often tweet and write about the inevitable transition towards electric vehicles (EVs). The inevitable, and often angry, responses to my tweets are predictable.

  • Too expensive.
  • They don’t have the infrastructure to make them work.
  • What about the battery life?
  • To charge them, you still use fossil fuels.

I have AnsweredThese stories are available in an earlier article. One of my pieces even responded to the “you are an elitist” narrative by showing how a shift to EVs could actually level the playing field for low-income and marginalized communities. It might be helpful to present savings from EVs as simple budget numbers that are easy to understand for the average person.

Before I continue, I want to make it clear that I have the disclaimers. According to a study, the upfront cost of an EV is about $10,000 more than that of conventional gas-powered cars. Kelley Blue Book, The charging infrastructure is not in the right place. In a statement earlier this year, the Biden Administration stated aggressive plans to improve the nation’s EV charging infrastructure, and over time, I anticipate that upfront costs will decrease. Recent MSNBC Article Notes that EVs are more cost-effective than traditional vehicles in terms of maintenance, fuel and taxes. This helps offset initial costs. Mike Winters went on to write, “A U.S. Department of Energy Report shows that after 15 years, electric cars generally cost less than similar gas-only models, when you factor in the price, maintenance, financing, repairs, the federal tax break and fuel costs.”

U.S. Department of Energy Alternative Fuels Data Center provides a vehicle cost calculator Website. Other sites offer these calculators. Use ChargeVC.org’s calculatorI used hypothetical numbers to calculate the mileage at 30 miles per hour, with 0.157 as an average. cost per kilowatthour, and gas costs at $4.50/gallon. These savings averaged around $2000 annually. I’m happy to share my household budget experience. We have three cars currently in our household. I commute 35 miles each way to work. Prior to purchasing an electric vehicle in 2021, my monthly fuel cost budget was approximately $600. After I purchased the EV, my monthly budget dropped to $300. In over a year, I haven’t needed an oil change. There was a generous tax cut in April. I also use the Georgia toll lanes for free, which saves me about $100 each month. CNBCRecently, Comparative analysis is quite thoroughThis is based on the expected gas mileage performance of modern cars. It is important to be clear that EVs may not be more affordable in all circumstances and that charging times can lead to decreased productivity for many people.

For me, savings are not just about “dollars and cents.” We also save our climate system. According to NOAA, greenhouse gas emissions continue to rise rapidly. The NOAA Annual Greenhouse Gas Index is a low-incertility metric that includes high-quality data from around the world. According to the NOAA Website, “The AGGI in 2021 was 1.49, which means that we’ve turned up the warming influence from greenhouse gases by 49% since 1990. It took ~240 years for the AGGI to go from 0 to 1, i.e., to reach 100%, and 31 years for it to increase by another 49%.”

The savings that can be made by transitioning to EVs for two teenagers are like an investment in their future happiness on any habitable planet.

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