There are a number of reasons why you should upgrade your ride and start driving electric today. There’s never been a better time to switch to electric now that exciting new technologies are affordable for the average Joe and high fuel costs stretching everybody’s wallet. You’ll save big and drive in style. EVs (electrical vehicles) aren’t just for tree-huggers anymore…so what are you waiting for?
Over the long term, driving electric will save you thousands on gas and make a big difference in the fight against global warming. If you’re like most people, however, the economics of driving electric are as mysterious as Sarah Palin’s moose stew recipe.
Achieving the best savings long-term requires you to think outside the pump. Here are some initial questions to consider:
1. Should I buy a car that’s 100% electric or go hybrid? A plug-in hybrid electric vehicle (PHEV) runs on a combination of gasoline and electricity. It’s a very economical option if you do a lot of long-range driving, because your batteries will recharge when the engine is running on gas – in fact, many electric car models capture and store the energy created by braking. Choosing a 100% electric vehicle means you’ll never have to buy gasoline. However, your range is limited by how many miles you can drive on a single charge and how long it takes to charge up.
2. So, if I get an EV, I won’t have to go to the gas station ever, except to buy Slim Jims and lotto scratchers. How do I fuel my car then, smart guy? EVs plug into standard 110 or 220 outlet just like any appliance, so you can charge your car easily wherever you go. The time it takes to fully recharge your EV depends on the make and model, as well as the voltage of the outlet, but you can expect a full charge to take several hours. It makes most economic sense to charge your car at night, when electricity rates are at their lowest, though charging during the day still costs only a fraction of the cost of gasoline.
3. How does driving electric compare to buying gas at $4/gallon? Will all the juice going into my car batteries supersize my power bill? When you go electric, you recharge your batteries at home, and this will affect your average monthly electricity bill. The good news is the increase in your power bill will be only a fraction of what you currently spend on gas.
The electricity you buy from your utility is measured in kilowatt-hours (kWh), and the national average price is about $0.11/kWh. So, at these electricity prices, how does an average electric sedan compare to a gas sedan that gets 30mpg with gas costing $4/gallon? An average electric sedan drives about 3.33 miles per kWh, and so needs about 9 kWh to drive 30 miles.
Hence, driving 30 miles on electricity will cost you $0.99, whereas driving 30 miles on gas will cost you $4. Not too shabby, wouldn’t you say?
4. I’m interested in an EV because I want to reduce my carbon footprint, but most of the electricity delivered to my house comes from fossil fuels. Is the environment any better off if I drive electric? Even if your utility company is selling you dirty coal electricity to recharge your ride, your carbon footprint is still only a fraction of what it used to be when you were driving an all-gas car.
Let’s say you’re fueling your EV with electricity that comes from 100% coal-burning power plants – in other words, the dirtiest power you can buy. One kilowatt-hour represents about 1.4 pounds of CO2 released into the atmosphere. But burning a gallon of gas releases about 22 pounds of CO2!
Our previous example was a gas sedan that gets 30 mpg compared with an EV sedan that get 3.3 miles/kWh. For those 30 miles driven in a gas sedan, 22 pounds of CO2 would be released. But to fuel an EV sedan to drive 30 miles, only 12.7 pounds of CO2 would be released.
And this is in a worst-case scenario where your electricity-fuel comes from the dirtiest source. Most electricity you buy is actually much cleaner.
5. Should I consider bringing my electric fuel source in-house? I’ve heard a lot about charging a car with solar. Depending on how much driving you do in your EV, you might want to consider going solar to fuel your car. Not only will this mean your carbon footprint will shrink way down, but you’ll save money compared to buying energy from the utility for both your car and home.
If you’re currently paying $150/month to power your home, going solar is already an economic option to reduce your energy costs. And if you start driving an EV that you charge at home every night, you could tack on another $50-$100 to your monthly bill, making solar make even more sense for you.
We think it’s pretty cool to imagine a future where all our energy needs – for powering our homes, industries, and cars – are met by clean, renewable energy from sources like good ole’ Mr. Sun.
{ 4 comments… read them below or add one }
As much as I support the switch to EV’s, I have to point out a discrepancy in one of your facts. Burning one gallon of gasoline cannot possibly put out 22 pounds of CO2, because a gallon of gasoline, including the carbon and all other elements within, does not weigh 22 pounds. The idea that electric power is cleaner than gasoline power is still spot on, but the carbon footprint of a gasoline car is significantly less than stated in this article. If I had any hard resource to give you on that, I would show it to you, but my logic and (admittedly incomplete) education tell me that the comparison is a bit off. Love the rest of the arguments though!
@Brandon:
Here’s an explanation: http://www.fueleconomy.gov/Feg/co2.shtml.
The gist of it is that burning gasoline produces about 5.5 pounds of carbon that then combines with the oxygen in the air to make 20 or so pounds of carbon dioxide.
The large price advantage of electrical energy over gasoline may not last. If electric vehicles become numerous enough to make a dent in gasoline sales, state legislatures may start taxing electricity to recover what they lose in gasoline taxes..
Hi Steve,
Thanks for your thoughtful comment.
The changing costs and revenues of the big oil companies definitely factor in to energy tax policies. Electricity is taxed as well, and an increase in electricity consumption on account of its increased usage as an automotive fuel should offset a loss of tax revenue from gasoline.
However, it will take some time for electricity to replace gasoline as the primary automotive fuel, and in this time, you can expect the cost of a gallon of gas to increase significantly regardless of taxes. Think of all the money you could save filling up your tank with solar electricity while gas prices keep going up!