Economic Climate Makes Electric Cars King

In an economic climate where all Americans are looking to get the most out of every dollar spent, gasoline is a difficult expense for many to justify. Going with an electric car that requires less gasoline and is also good for the environment is popular option for people looking to make the switch. Below are some important facts to know before purchasing any electric vehicle.

• In the world of electric cars there are only two kinds. 100% electric and plug-in hybrids.

The 100% electric cars are run only on a large battery. When this battery runs out, the car will no longer work. An example of this is the Nissan Leaf.
Plug-in hybrids however run on a smaller battery, which once used up, switches over to the standard fuel system. This fuel system can either be run straight or be used to run a generator that recharges the electric battery.

• Another advantage to buying an electric car is the tax credit.

All taxpayers are qualified to receive a $7,500 federal tax credit. This tax credit will be given until the manufacturer sells more than 200,000 of the vehicle model. See tax credit details here.
Some states even offer incentives of their own. For example California has a $5,000 credit, Oregon $1,500 credit and Washington waives the 6.5% tax on the purchase of the vehicle.
Also states will offer reserved parking, as well as carpool privileges.

• There are 3 different ways to charge electric vehicles.

1. The first level of charging is using a standard household outlet. Although this only charges about 5 miles of driving per hour, it provides a convenient way solution.

2. The second level of uses a special wall/pedestal mounted equipment for electric cars. This adds about 15-30 miles or range per hour of charging.

3. The third option is DC fast charging which is essentially like using a regular gas pump, but instead it pumps electrons into your car’s battery fast. Only some cars have this option on them and it is usually an upgrade. DC charging adds approximately 80 miles range per half hour.


• Home charging stations are easy to install but costs extra (IRS Incentives included).

Most people want to install their own home charging station because they can charge the car battery up overnight.

These station cost about $1,500 - $2,500 to install, however the federal government provides a tax credit of up to 30% of cost and installation up to $1,000


• Electric cars are cheap to operate, but will increase utility bills.

The average cost of electricity in the United States is roughly 12 cents per KH. Electric cars cost about 3-4 cents per mile and a 30 mpg car would cost about 11 cents per mile with a $3.20 gas price. If the electric vehicle is driven 50 miles per day on average your electric bill will increase by 50%. Electric vehicles in the long run will also save you maintenance costs in the long run due to their low upkeep.