A recent study from the education nonprofit Veloz revealed a dramatic gap between the cost of driving an electric vehicle and a car with a traditional internal combustion engine, Autoblog reported — underscoring why so many people switch to EVs.
Not only are EVs more affordable to fuel in general, but that gap can widen if you charge up your car at home, since a home charging station is more cost-effective than public chargers. Fully charging up a vehicle with a 65-75 kilowatt-hour battery at home costs $12.86 on average, according to the study.
In a press release published on Business Wire, Veloz summed up its findings, saying: "The comparison is one of the great debates in the transportation sector, and the conclusion is consistent: EVs deliver strong economic benefits. In nearly every scenario, EVs cost less to fuel and less to operate on a per-mile basis than comparable gasoline vehicles."
Specifically, according to Autoblog, it costs an average of 12 cents per mile to drive an ICE vehicle, but only five cents per mile to drive an EV — or in other words, less than half the price. Heavy users can make up the purchase price of the vehicle within as little as two years and come out ahead for the rest of the vehicle's lifetime.
If you want to install a Level 2 charger at home for your EV, Qmerit is the perfect place to start. This installer offers free estimates using just a few answers to questions about your electrical panel and garage.
To further compound your savings, combine an EV charger from Qmerit with new solar panels that can provide electricity at minimal cost. TCD's Solar Explorer will help you understand your options for going solar, allowing you to save up to $10,000. Through its carefully vetted partners, you can access concierge-level service and curated bids from vetted local installers.
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