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.
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.
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.
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.
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