EV Popularity Is About More Than Gas Prices
More people are adopting EVs (electric vehicles) to save money and the environment. Recent research found that an EV could cost you approximately $50 a month to charge it. Compare that figure with the $175 or more if you were to fill your car with gas, and you see the appeal of EVs.
While gas expenses are a major reason to switch to clean and renewable transportation, they are not the only reason why many people are changing how they move around. An improved infrastructure, additional cost savings, and growing tax credits prove that EV popularity is about more than gas prices.
The United States Department of Energy reports an increase in both public and private ports in the first quarter of 2022. Charging stations at workplaces and other public places are raising consumer acceptance of EVs. Acceptance is critical to EV demand, which translates to more charging opportunities. This cycle can feed itself and improve an already blossoming infrastructure.
The technology behind EVs and charging stations continues to evolve. Despite still being new, the technology has taken huge steps to improve efficiency. Charging times continue to improve while newer EVs can travel farther than before.
Although the purchase prices for EVs are still higher than gas vehicles, the initial investment pays off in the long term. Savings vary from state to state, but on average, vehicle expenses like maintenance, insurance, and taxes are lower for EV owners. And as EVs become more common, they should come down in price, making them more than affordable for nearly any budget.
From now through 2032, the Alternative Fuel Refueling Property Credit will save EV adopters even more money. This EV tax credit:
Lowers EV prices beginning in 2023
Qualifying vehicles must have their final assembly in North America. Consumers can save up to $4,000 for a used EV and $7,000 for a new one.
Reduces charging station prices
A 30% credit toward the cost of a charging station awaits homeowners who purchase an EV. Bidirectional charging equipment is covered under the credit.
Speed into the Future
The EV market is thriving, and shows no sign of slowing. No matter why you want to switch to a cleaner mode of transportation, you can make the change a seamless transition. Fischer Electric can help you by installing EV charging stations at your home and/or office.
We have served the greater Seattle community for more than 40 years. With the future always in sight, we hope to serve you for even longer. We have already helped man customers just like you install EV charging stations at their homes.
We know your time is important. We can also offer you an electrical load assessment and the necessary circuitry for fast charging capabilities. Your car can run smoother so you get where you want to go faster.
Take advantage of the previously mentioned credits to make the change to electric. Contact us today so we can discuss your options.