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| Photo from Unsplash |
"The horse is here to stay, but the automobile is only a novelty" - by a president of Michigan Savings Bank
This was the viewpoint of people in the early 1900s, during the time Henry Ford was starting a car company. It seems we have a similar fight in today's world between internal combustion vs. electric vehicles, and many say they would not buy EVs.
Would you buy an electric car? Have you been presented with the facts? Maybe not!
Electric Cars Save Money
Maybe
This all depends on several factors: the type of vehicle you buy, the cost of electricity and fuel in your area, and are there charging stations in your area. It has been shown that driving EVs can save you about 70% over the cost of fuel, if you compare similar body styles. There are also fewer moving parts on an electric car that requires maintenance, which cuts maintenance cost by 25%. This analysis only considers operation cost and not the purchase price of the vehicle. If you consider the total cost of ownership you will find the EVs save you little or cost more over time. However, tax incentives could help give cost advantages to EVs.
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| Photo from Unsplash |
Electric Cars are More Efficient
Maybe
Let's start by considering the cars by themselves. Each component of the car has a factor of efficiency, and if you multiply these out you can see how efficient a car is by itself. It has been proven that modern-day electric vehicles are more efficient by themselves, if you don't consider where the electricity, used to charge it, was produced. Now, if the electricity for the vehicle is coming from a fossil fuel plant then the efficiency from well to wheel is lower than diesel and similar to gas. This is due to the poor efficiency of the power plants making the electricity. The only way the well-to-wheel efficiency is better with EVs is when they are charged by low-emission power grids such as hydroelectric, solar, wind, nuclear, and biomass.
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| Photo from Unsplash |
Electric Cars Will Reduce Emissions
Let's start by considering the cars by themselves. The vehicle itself will produce no emissions if it is electric, but the power has to come from somewhere. If the power is from a fossil fuel power plant then the emissions most likely not going to be better than the gas or diesel engine. Nevertheless, low emission power grids would keep the emissions at close to zero, and would reduce the carbon emissions.
Well-to-wheel analysis and comparison between conventional, hybrid, and electric powertrain in real conditions of use
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| Photo from Unsplash |
Conclusion
This article is not to deter you from buying an electric car, and whether you should get an electric vehicle is completely an individual situation. It depends on many factors:
- The cost of charging in your area
- If the cost of electricity is too high the fuel savings will be greatly reduced.
- The cost of local charging station fees will also reduce savings.
- The distance you drive
- If daily you drive distances longer than the typical EV range then it could be difficult to get it recharged. Many rural areas do not have charging stations at this point, but again this all depends on the location you live.
- If you are looking to reduce your carbon footprint
- If your power grid is powered by fossil fuel power plants then you are not reducing the emissions or improving efficiency.
- Your budget for a new car
- EVs come at a price premium over the gas or diesel options, but some models will be eligible for tax rebates. However, the tax rebate advantages depend on your tax situation, and would need a professional tax advisor to check it.
Resources
Here are a few sources of information used. True Cost of Electric Vehicles
(PDF) Comparison of the Overall Energy Efficiency for Internal Combustion Engine Vehicles and Electric Vehicles (researchgate.net)
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