Are electric cars worth it? If you’re considering buying an electric car, you might want to consider some of these questions before committing. In recent years, electric cars have become increasingly popular. Some experts say they’re the future of transportation. Others warn that EVs are too risky. Electric cars are generally seen as environment-friendly vehicles. But what are the downsides to owning one? Will you be better off with a traditional gas-powered car?
In this article, we are going to compare gas-powered cars versus electric cars, and you decide what best suits your needs.
Let’s dive into the advantages of owning an electric car. The first and most obvious is that you’re never going to have to worry about how much money you’ll spend on gas again, given how expensive it is to keep a gas-powered vehicle running. It’s no surprise that not having to pay for gas is a major selling point for electric vehicles, and it’s also true that the cost of charging an electric vehicle is much cheaper in the long run compared to paying for gas. The amount of money you save will be determined by a wide variety of factors, including the type of vehicle you decide to purchase, the price of gasoline in comparison to the price of electricity in your area, and whether you choose to charge your vehicle during the day at home or at night during off-peak hours. Studies suggest that the typical gas-powered car owner will spend approximately twenty thousand dollars on gas over the course of ten years, which is approximately two thousand dollars per year. On the other hand, the typical owner of an electric car will spend approximately five thousand dollars on electricity over the course of ten years, which is approximately five hundred dollars per year. These are just estimates but you now have an idea of how much you’ll spend if you decide to own either an electric or a traditional car. That’s right, an electric car can save you around $15000 over a period of ten years.
Aside from being able to save money on gas, you won’t have to worry about spending an entire paycheck’s worth for maintenance. You won’t ever have to spend money on oil changes, other fluid changes, spark plugs, belts, or any other maintenance items typically seen in a gas-powered vehicle because electric cars have very simple mechanical structures. But you still have to ensure that your brakes, tires, and other important parts function properly. Still, it will save you money in the long run compared to a gas-powered vehicle. Certain major problems that gas-powered cars have will not be experienced with electric cars. You won’t ever have to face problems like oil leaks or gasket leakage. Don’t get too excited, though, since these problems will be replaced with problems associated with electric vehicles. Traditional cars and electric cars also have common issues such as with the sensors, the touch screen, electronics, and others. When it comes to maintenance, ten years of driving a gas-powered vehicle will cost you about $21,000 whereas an electric car will cost about $13,000.
Additionally, the savings with electric cars are not limited to only the costs of running and maintaining the vehicle. You also have the opportunity to save some money on the overall purchasing price. However, one problem you’ll hate to come across is one that involves your car’s batteries.
The next advantage of owning an electric car is government rebates and incentives. If you live in an area where government rebates are available, you may save yourself thousands of dollars on purchasing a car which can reach up to $7,500 in the US. Electric cars also give users a generally better driving experience because their acceleration is somewhat muffled and smoother, and they can generate more power that allows for easier maneuvering.
No harmful gasses are released from an electric vehicle’s exhaust. However, carbon pollution may occur due to generating the electricity required to charge electric cars. The amount varies depending on the method used to generate local power, such as coal or natural gas, both of which emit carbon pollution, as opposed to using renewable resources such as wind or solar, neither of which contribute to carbon pollution. Despite the inevitable emission from electricity, the levels of greenhouse gasses emitted by electric cars are lower than those from the latest gas-powered car. It is possible that the total greenhouse gasses caused by electric vehicles could be reduced even further if renewable energy sources such as wind and solar were used more to generate electricity.
The manufacturing of electric cars and the battery packs that are needed to get them running also poses a lot of concerns for the environment. These battery packs negatively damage the environment since they require mining metals including cobalt, nickel, and lithium. A carbon deficit is the result if you combine the mining of the metals, the manufacturing of the batteries and the vehicles. Just remember, if the area you live in gets its electricity from renewable energy then that’s a good step towards helping the environment when it comes to buying an electric car. Given this info, do you really think it’s the right time for you to be an electric car owner?
The next issue with electric cars is their price tag. The average American wouldn’t even think of buying an electric car as the average price goes for around $68,000. There are some cheaper models like the Chevrolet Bolt EUV but that’s about it. Buying an electric car is simply too expensive for the working man.
Speaking of prices, the types of problems you wouldn’t want to deal with are those involving your car’s battery pack. Most of the time, you won’t even have to deal with these problems, and battery packs come with an 8–10 year warranty. Battery failure is rare but what you don’t want is battery degradation. The battery pack will gradually degrade the more you use it, typically between five and ten percent over the course of ten years. Expect to shell out five figures if your battery pack experiences significant degradation outside of your warranty.
Another issue with electric cars is their driving range. Initially, electric cars were practically seen as useless since they only had a limited driving range of around 100 miles or 160 kilometers, but on just one charge, the latest models are able to travel at least 250 miles. This makes electric cars more attractive to consumers who only want one car. Sadly, if you intend to drive long distances or live in an area where public charging is not prevalent, or you don’t have the capability to charge at home or work, the driving range will be a nuisance. You’ll only get more anxious with charging issues as you’ll be bothered by thoughts of possibly being stranded. The absence of a DC fast charging will also take you around eight to ten hours to fully charge an electric car on regular level 2 power. Because electric cars are expected to lose 20 to 30 percent of their range during winter time, having the capacity to charge regularly will still leave you anxious. Electric cars also lose range when driving on long highways as they were designed to be city cars.
The EV industry still has a lot of room to grow. One proof is that most public charging infrastructures are still undeveloped, even those found in the most developed cities. Because of this, you may not want to rely heavily on public charging and might as well just charge at home. DC fast chargers are also rarely reliable. Wait after a few years, and maybe the issues associated with public charging infrastructures will be fixed.
An electric car is perfect for someone who can charge at home, and sees no problem with the usual charging issues, and the inevitable decline of range in EVs during cold weather and driving long distances. It’s a big plus if the area you’re in has electricity sourced from renewable energy. When you add together the initial purchase price, and ongoing costs for maintenance and repairs, you’ll see that owning an electric car is lighter on your pockets than owning a comparable gas-powered car over the course of a decade. An electric car is not ideal for people that do long-distance driving, those who have difficult access to public charging, and those who live in cold climates. As mentioned earlier, your electric car won’t help the environment if you live in an area wherein electricity is sourced from fossil fuels. If you feel you belong in this group, opt for a gas-powered car or a hybrid. Hybrid cars are much more cost-effective than electric cars, with a price tag that’s on par with a standard gas car but significantly lower running costs. You won’t have to deal with charging or range issues because hybrids require no charging, eliminating concerns about your electricity being powered by fossil fuels. Many buyers are aware of these advantages, which is why hybrids are selling so well. Waiting a few years, or maybe a bit longer, to purchase your next electric car can only benefit you, as the technology will only get much better in the years to come.