5 Ways An Electric Vehicle (EV) Can Change Your Life

With rising gas prices and a limited selection of cars at dealerships across North America, purchasing an EV can be tempting. The cost of fuel has a major impact on your total cost of ownership and should be an important factor when you decide whether to purchase an EV.
A recent survey from Forbes shows that 23% of people who plan to buy a new car are considering an EV, and 27% are considering a hybrid model.

Before you start researching your ideal EV, consider your three main options:
Battery Electric Vehicles (BEVs) get their power from an electric battery, so the car has no gas-engine parts. Be sure to understand how long it takes to bring a BEV up to a full charge before choosing a model.
Hybrid Electric Vehicles (HEVs) use assistance from a gas-powered engine but are primarily fueled by an electric motor. HEVs are low-emission cars, but you can't charge them with EVgo, which is the largest public fast-charging network in America.
Plug-in Hybrid Electric Vehicles (PHEVs) use power from an electric motor and a large battery. This type of vehicle has a gas tank as well as a charging port. You can use a Level 2 (L2) charger to power up your PHEV.

Driving an electric car is different from driving a traditional vehicle, and here are five ways that an EV can change your life.

Buying An EV Can Trigger Tax Credits
There are many financial benefits to purchasing an EV that goes beyond a reduced gasoline bill. Federal tax credits max out at $7,500 per EV purchase and depend on your battery's capacity. You can count on $2,500 if your vehicle draws propulsion energy from a 5kWh battery. For each additional kWh of capacity, you'll get another $417, up to $7,500. There are additional criteria you must meet to get the federal EV tax credit, as well:
Must be made by a manufacturer
Can be recharged from an external source of electricity
Must have a GVWR of up to 14,000 lbs
Must be propelled by an electric motor that draws electricity from a battery that has a capacity of at least 4-kilowatt hours
Is acquired for use/lease by the taxpayer, and is not to be re-sold (the credit is available to the original buyer only)
Must be a new vehicle
Is used mostly in the U.S.
Count as a motor vehicle for purposes of Title II of the Clean Air Act
Must be placed in service during or after the 2010 calendar year

You may also be eligible for state and utility incentives, depending on your location.
While it may seem like EVs have higher price tags than gasoline-powered vehicles, when you factor in the tax credit and fuel savings, it's not difficult to find an EV that fits into the budget of a new car shopper.

Driving an EV Lowers Your Fuel Bill
Even if your EV also has a gasoline engine, you'll use less gasoline than you would with an engine that runs on gas alone. With prices at the pump over $5 in some areas of the United States, using less gas can help give your bank account a break.

A recent Consumer Reports study showed that EV owners spend an average of 60% less on fuel compared to gas-powered car owners. The study figured in the cost of using commercial charging stations, which are two to three times more expensive than charging your vehicle at home. It costs an average of $10 - $45 to fully recharge your EV's battery on the go. Charging your EV at home adds an average of about $25 to an EV owner's total household electric bill.

You Contribute To Cleaner Air
One of the top reasons people choose an EV is because they want to help protect the environment. When you drive a gas-dipping or all-electric vehicle, you lessen or eliminate the amount of exhaust emissions that contribute to pollution.

Enjoy a Better Driving Experience
EVs may have a lower center of gravity than gasoline-powered cars, which translates to better responsiveness and handling. The ride may be smoother, as well. With an electric engine, you'll get smooth deceleration and acceleration along with a super-quiet ride.

EVs may also provide more horsepower, which can come in handy when it's time to merge into traffic or pass a slower car on the highway.

Because EVs have fewer moving parts, they can use their horsepower more efficiently. In general, EVs are more powerful and faster when compared to gasoline-powered vehicles.

Owning an EV Can Mean Lower Maintenance Costs
While an EV may have a higher purchase price than a gasoline-powered car, they also don't have many of the maintenance costs associated with driving a traditional vehicle. EVs don't have spark plugs or need oil changes. Consumers who choose to drive an all-electric vehicle spend an average of $4,600 less on maintenance costs.
According to AAA, consumers spend $500 to $600 for the average car repair. Switching to an EV can help you save money on maintenance and repair costs, eliminating much of the hassle associated with more frequent visits to the repair shop.

A five-year-old EV costs an average of $900 per year to maintain, while a gasoline-powered vehicle of the same age costs about $1,200 per year to maintain. Common EV maintenance items include brake pads, suspension components, tires, charging maintenance, the battery storage,and the car's heating and air conditioning system.

Many consumers believe that EVs are the future of the automobile industry, and as the benefits of driving all-electric and electric/gasoline hybrid cars become more widely known, it's likely that you'll see more EVs on the road.