Electric vs Gasoline - A Comparative Analysis of Long Term Charging Costs

Electric vehicles have become increasingly popular over the past few years thanks to their eco-friendly nature and low running costs. However, some still believe that gasoline cars trump electric vehicles when it comes to long-term charging costs. In this article, we'll dive deep into the topic and provide a comprehensive comparison between the two options.

Summary:

The Cost Factor

One of the main concerns with electric vehicles is the upfront cost, which is usually higher than a traditional gasoline car. However, in the long run, EVs prove to be cheaper thanks to the lower cost of charging as compared to gas prices.

An average American motorist who drives 15,000 miles per year and has an electric vehicle that is powered by a 10.64-kWh battery will spend about $545 for charging that battery, according to the US Department of Energy. As compared to this, the average American driver will spend over $1,500 on gas expenses in a year. These figures indicate that it is almost three times cheaper to charge an EV as compared to a gasoline car.

Additionally, electric vehicles are more efficient than their gasoline counterparts, resulting in lower energy consumption. The cost per mile of an EV is around four times lower as compared to a gasoline-powered vehicle in situations where gasoline rates and electricity rates are almost equal.

Maintenance Costs

An EV involves fewer maintenance costs than a gasoline car. This is because a vehicle powered by electricity has fewer moving parts and hardly any fluids to replace or replenish. An EV quickly pays off the additional money invested in the purchase of the vehicle through its low maintenance costs.

Further, electric engines have a significantly longer lifespan than traditional engines of a gasoline car, resulting in lower repair costs. An average electric engine is predicted to last for around 20 years, which is over twice the lifespan of a conventional gasoline engine.

Environmental Benefits

One of the key advantages of using an electric vehicle is the environmental benefits it brings. A vehicle that runs on electricity leaves less of a carbon footprint as compared to one that runs on gasoline. Studies have shown that a single electric vehicle can substitute 10 gasoline vehicles as far as pollution and emissions are concerned.

Moreover, EVs generally have better fuel efficiency than gas vehicles. That means they contribute to lower greenhouse gas emissions, even after accounting for the emissions associated with generating the electricity used to charge them. The long-term benefits of these environmental benefits can't be ignored.

Key Takeaways

• Electric vehicles are more expensive to purchase upfront, but have much lower long-term charging costs than gasoline cars.
• Electric cars have fewer maintenance costs, which are compensated for across the lifespan of the vehicle.
• EV's bring numerous environmental benefits over their gasoline counterparts, with lower carbon footprint and greenhouse gas emissions.

Conclusion

The long-term charging costs of electric cars are significantly lower than those of gasoline cars, making them a wise investment for any driver who is looking to save money. When deciding whether to go electric, consider the long-term economic and environmental benefits, and the lower maintenance costs that come with it.