11 September 2020

The choice to go electric or not, is it cheaper?

Over the last few years, electric cars are increasingly becoming the most appealing alternative to the traditional combustion engined car, or fossil fuel-powered automobiles. But how do the costs of running them stack up?

Should you be wanting a direct answer, yes, electric cars have cheaper running costs solely based on fuel costs. When you factor in other particulars like maintenance costs, they are much more of a better option. In Electric vehicles (EVs) the brake system lasts longer than in fuel-powered vehicles. They have less moving parts and require fewer fluid changes.

Not yet convinced? Keep reading.

EV cars cost less than their ICE counterparts

Each passing year electric vehicles cost less compared to tradition fossil fuel-powered vehicles. As this cost continues to go lower, the go-to choice for a car is becoming more obvious. Their affordability both at the point of purchase and in maintenance costs is making them an attractive option especially in most advanced economies.

What about charging?

With no fossil fuel, the trip to a petrol station will be a thing of the past. “Filling-up” at work is such a convenience. Simply plug in at the nearest charge station which could be at work or home and refuelling has never been this easy. As an added advantage, in some cases the electricity used in EV chargers comes from renewable energy sources which makes EV charging cost lower than you might imagine. You could add a solar array at your garage or workplace and those car journeys will “pay” for themselves.

Utility supplies can help cover costs

Considering most charging occurs at home, EV charging costs can run up your electric bill. As such, the need to incentivise off-peak charging couldn’t be more urgent. Most electric utility companies have partnered up with the government to roll-out these incentives that seek to support this rising technology. With this special rate, rebates and plans becoming predominant in the market, entry into the EV has been made cheaper and sustainable and even more wide-spread. The incentives are for you, go for it!

EVs are quiet both on the inside and outside

One of the most striking features you might have noticed about driving an EV is the serenity it commands. From a dead-silent stop, pressing the accelerator offsets it slightly before it quickly settles in for a silent ride down the road. If you live in a big city, noise is common but not something you look forward to. EV vehicles offer you a space of peace and serenity. Lack of cabin noise is also extended to road noise offering a cheaper and convenient commute to work. Noise in most fossil fuel cars is as a result of many moving parts, that EVs don’t have which also makes their running costs cheaper.

That’s right; The government will pay you to drive an EV

Simply purchasing an EV car might make you eligible for an incentive, tax credit or a significant rebate. The government is on a mission to champion for renewable energy sources and reducing carbon emissions. One of the most effective ways to do so has been to reduce gas cars on the roads and have more EVs. With incentives and tax credits both for car purchase and charging kit purchase, EV cars are a cheaper option. Care about the environment while trying to save a few pounds? The choice couldn’t be more obvious. Take advantage of the OLEV grant funding whilst it’s still available.

Range anxiety? What range anxiety?

The performance of EVs extends beyond torque. Recent EV models have concentrated on range performance and reaping huge gains from it. This has been made possible by the technological advancements in the batteries and regenerative braking systems that are not only cheaper but more reliable. For a regular city dweller, the average drive is under 10 miles which give quite some wiggle room for the driver.

Besides, the regenerative braking system extends the life of the brake. Pitting EV vs petrol or EV vs diesel shows the perspective of this braking system life. Since the electric motor allows for self-slow down, the brake pedals use is reduced and the rotors last way longer. These electric motors do not generate much heat as the combustion occurs in a controlled setup.

Shell fuel station

That’s right, they are better for our environment

When it comes to exhaust emissions, EV cars have zero. As such, we can look forward to a cleaner environment should we have more EVs on our roads. A cleaner environment means less pollution, better public health and safety, and more stable climatic patterns. Comparing EV vs petrol or EV vs diesel, EVs emit way fewer greenhouse gasses which reduces the carbon footprint. Going EV is a great start to slowing down global warming.

Do they have re-sale value?

Traditionally, EV vehicles have had one of the lowest resale values. Most people feared the uncertainties around the EV charging cost, the tax cuts cut their transaction prices leaving little room for resale evaluation. But that has changed over the years. Tesla, General motors, Nissan and other leading EV mass producers are promising products with 3-year resale value or more. Tesla, for example, promises a 65% resale value within the first 36 months. With purchase prices subsidised and resale value promised, has there ever been a better time to get your EV car?

In conclusion, as technology advances in this sector, to go EV or not will be one of the most obvious choices the world will be presented. Soon, the critics will have little or no concerns to raise regarding cost, performance or range. Be part of something great!