EVs for Ever?

Thu, 08/19/2021 - 4:30pm
Category: 

At the Car Show held on July 28 on the front lawn of the Harbor Church and featuring cutting edge EVs (electric vehicles) – a Tesla and a Mach-E – the most frequently asked question was: How far do they go before the electricity runs out?
In a recent edition of the AAA online magazine, that and other questions about EVs were addressed. If you missed it, here is a summary:
Is EV ownership growing?
EV ownership is trending upward but still has a ways to go.
EV sales are up 150 percent over last year; the President has set a national goal for EVs to be 50 percent of all new vehicle sales by 2030, and 96 percent of current EV owners are satisfied enough to buy another EV for their next car. 40 million Americans are interested in purchasing an EV for their next vehicle.

But, though there are 1.8 million EVs registered nationwide – three times as many as in 2016 – that amounts to only two percent of all vehicles in the U.S.
Can I afford to buy an EV?
EVs are affordable and getting more so, though not yet as “cheap” as gas-powered vehicles. This is mostly due to the high costs of the batteries onboard, but that price has dropped from $1,000 in 2011 to $130 last year. The price is predicted to drop to $100 by 2023,
which should even out the cost between gas- and electric-powered vehicles. As of June 2021, according to Kelly Blue Book, the gap in price averaged $7,500.
How can that price gap be overcome?
It can be equalized in two ways: tax credits and lower operating costs.

The Federal tax credit for an EV purchase is up to $7,500. And for Rhode Island: Through DRIVE, qualified Rhode Island residents interested in purchasing or leasing an electric vehicle (EV) will be able to apply for a financial rebate of up to $2,500, based upon vehicle battery capacity.
With these helps, it might even be cheaper to by EV than gas.
And AAA research found the EV maintenance costs $330 less per year than gas-powered vehicles. And consider fuel: the cost of electricity for an EV is half of gas per mile on average across the country.
And now to the initial question:
How far can an EV go before it runs out of power?
Most models currently get 200 miles on a charge and some models can go up to 500. A Mach-E owner at the car show said he needed only three charging stops to drive from Ohio to Block Island. He accomplished this at three Wal-Marts, charging up while he did some shopping.

Public charging stations now number 4,300 in the U.S. (about one third the number of gas stations), but the infrastructure bill before Congress allocates $7.5 billion to fund 500,000 public charging stations across the nation. Of course, most EV owners simply charge
up overnight at home.
Cut carbon emissions, break even (or better) financially, and help save the planet for your children and grandchildren...

Isn’t it time you considered an EV?
For more information about solar panels, please contact Tony Pappas at (508) 272-8822 or visit the website at solarinitiativebi.com.