Bank Offers Special Discounts for EVs
However, there is one distinction that might make owning an electric car less expensive. According to Olya, several financial institutions and credit unions provide customers with specific financing discounts and incentives if they purchase fuel-efficient vehicles. For instance, bank of the West provides a rate reduction of up to 0.5 percent for the purchase of eligible electric vehicles. people may be quick to disregard the notion that electricity rates can vary more than gas prices if they are eager to get rid of their gas-guzzlers. Although not limited to current electric rates, there are other elements that can affect the cost of operating an electric vehicle.
According to the U.S. Department of Energy, driving an electric car typically costs half as much, and that's assuming gas costs $2.85 per gallon. Nevertheless, despite the fluctuation in the cost to power an EV, with gas prices now averaging over $4, the savings might be far higher. The eGallon tool on Energy.gov compares the two using typical gas costs and home electricity prices for each state. You can power an EV for less $1 in locations like Arkansas.
From station to station, the average cost of charging an EV varies. Even some public charging stations offer free service. Depending on whether you are a member or not, electric charging station networks like Electrify America provide varied charging fees. Without a membership, the average cost per minute for charging is $0.43 per kWh or $0.31 for subscribers.
According to the U.S. Department of Energy, driving an electric car typically costs half as much, and that's assuming gas costs $2.85 per gallon. Nevertheless, despite the fluctuation in the cost to power an EV, with gas prices now averaging over $4, the savings might be far higher. The eGallon tool on Energy.gov compares the two using typical gas costs and home electricity prices for each state. You can power an EV for less $1 in locations like Arkansas.
From station to station, the average cost of charging an EV varies. Even some public charging stations offer free service. Depending on whether you are a member or not, electric charging station networks like Electrify America provide varied charging fees. Without a membership, the average cost per minute for charging is $0.43 per kWh or $0.31 for subscribers.