EV drivers will typically save between $6,000 and $10,000 over the life of the vehicle. Currently, the upfront purchase price difference between a comparable EV and a gas car is a few thousand dollars, but this gap is rapidly closing. Since EVs cost less to own and operate, most EV drivers will quickly make up the difference.
EVs are also two times to four times more efficient than gas cars. This means that they require much less energy to power. This translates into EV drivers saving 60% to power an EV compared to gas cars. EVs also require far less maintenance and cost about half as much to maintain.
In addition, federal incentives of up to $7,500 are available at the time of sale for qualifying EVs and buyers. These incentives can usually be stacked with state and utility incentives, bringing the starting price of an EV to well below that of a gas car. Depending on your electric utility, you may also be able to save money by setting your car to charge at off-peak rates, which can bring your fueling rate to the equivalent of paying less than $1 per gallon.
