New Study Reveals Electric Vehicle Savings Potential
For those considering a switch to an electric vehicle (EV), the cost savings can be substantial. According to Josh Boone, executive director of Veloz, the main concern for consumers is how they can save money. By driving an EV, individuals can potentially reduce their annual fuel costs by around $2,000, equating to approximately $166 per month.
However, the extent of these savings depends on several factors, including the vehicle's distance driven and the miles per gallon of the current gas-powered vehicle. To help users estimate their potential savings, Veloz has developed a national database and website called ElectricForAll.org, which includes an online calculator.
By inputting key details such as the type of EV desired, annual mileage, fuel efficiency of the existing vehicle, local average gas prices, and zip code (which helps determine electricity costs), users can get an estimated fuel savings amount and total annual savings. Furthermore, this figure also takes into account maintenance savings due to the reduced number of moving parts in electric vehicles.
As Boone explained, "Electric vehicles require less maintenance overall, so there's less need for oil filters, spark plugs, or regular tune-ups." This reduction in maintenance needs translates into cost savings that can significantly impact an individual's budget.
				
			For those considering a switch to an electric vehicle (EV), the cost savings can be substantial. According to Josh Boone, executive director of Veloz, the main concern for consumers is how they can save money. By driving an EV, individuals can potentially reduce their annual fuel costs by around $2,000, equating to approximately $166 per month.
However, the extent of these savings depends on several factors, including the vehicle's distance driven and the miles per gallon of the current gas-powered vehicle. To help users estimate their potential savings, Veloz has developed a national database and website called ElectricForAll.org, which includes an online calculator.
By inputting key details such as the type of EV desired, annual mileage, fuel efficiency of the existing vehicle, local average gas prices, and zip code (which helps determine electricity costs), users can get an estimated fuel savings amount and total annual savings. Furthermore, this figure also takes into account maintenance savings due to the reduced number of moving parts in electric vehicles.
As Boone explained, "Electric vehicles require less maintenance overall, so there's less need for oil filters, spark plugs, or regular tune-ups." This reduction in maintenance needs translates into cost savings that can significantly impact an individual's budget.