DRIVE ELECTRIC
Everything You Need to Know About EVs
by Rosa Colucci
September 13, 2024
As the demand for electric vehicles (EVs) ramps up, the industry is pushing forward with steady growth. Last year, more than 1 million new EVs were sold in 2023, according to Cox Automotive, the parent company of Kelley Blue Book.
The vehicles have penetrated the consumer, commercial, and industrial market. Nearly every major auto manufacturer is offering models for every consumer. This model year, more than 50 new/updated models will hit the marketplace.
Overall, the initial cost to purchase an EV is more than that of an internal combustion engine (ICE) gasoline vehicle. Electric Car Tax Credits were created to offset the cost and make them more attractive to consumers. Furthermore, the tax credits now extend to some pre-owned vehicles as well. Credits make the investment worth a second look.
Tax credit ranges from $3,750 to $7,500 per vehicle for 2022 - 2024 model years. Pre-owned vehicles purchased in 2023 or after are eligible for a tax credit of up to $4,000. You can view the entire program here.
Consumers have to consider the pros and cons of the purchase and how it fits into their lifestyle. Issues such as battery life, mileage range, and lack of infrastructure are mostly cited as reasons consumers turn away from EVs.
Charging can be done at home or at public charging stations. There are metrics of regular versus high-speed charging (Level 1 vs. Level 2). If you want to install an EV Charger at home your electrician will need to run a 240V line. The price for this installation varies widely on many factors.
Other factors include your climate zone. Freezing temperatures can reduce the battery range up to 32 percent. Considering that batteries can run an average of 300 miles, for most owners, that is not a consideration as most do not drive 300 miles in a single day.
Corey and Tina Rosensteel have a hybrid and a full EV. They were exposed to the benefits of an EV through relatives who owned a Tesla Model 3. The couple installed the plug for their in-laws. They networked to find a certified electrician for the install.
Their hybrid Volvo SUV can travel 20 miles on the battery before it the gas motor kicks in. The auto is used all day and is simply plugged in when they come home. They estimate they fill the gas tank once a month.
Their second vehicle is used just as often and travels more than 300 miles on one charge and is connected once a week for a full charge.
They are really not seeing a higher electric bill because they invested in solar energy for their residence as well, offsetting any increases. They also invested in an adapter that can turn the charging level from 1 to 2.
Overall they find the ownership of these vehicles well worth their investment and give the vehicles high marks for acceleration, comfort, and design.
“I was surprised how fast they picked up speed. It is fast and so smooth,” she said. “This car has been zero hassle.”
It is no secret that EVs have had some design flaws, recalls, and more including battery replacement cost and innovation flaws. As with any new technology, these issues will come up, but comparatively ICE vehicles are burdened by recalls just as often, they just don’t make the news and more widely accepted since the technology is older and known.
There is definitely room in a household for an EV, as time goes on, it just makes sense.
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