Charging costs are just as important as charging speed. Charging cost can vary greatly, much more so than gasoline. While gasoline may fluctuate more over a long term, electricity rates fluctuate daily by pretty high percentages. Different locations will also have different electricity rates. This has a lot to due with how rural an area is. Rural or remote areas often have more expensive electricity (Lachnit). Even with fluctuations, the cost of charging an EV is still in the single digits. For a car with a range of around 100 miles and that is charged in a urban or suburban area, the charging cost could be just a few dollars. Hawaii has some of the most expensive electricity rates. At these rates and current gas prices, a gas car would need to get around 40mpg to match the cost of electricity for an EV (Lachnit). Overall, the BEV is superior in cost efficiency in almost every case when compared to gas vehicles; the only drawback is range and charging time. The cost of ownership of EVs has been going down as the technology advances. One of the key things that keeps costs down is that batteries do not have to be replaced as much as they used too, and since batteries are expensive, it cuts cost significantly Figure 3: Top 5 EV data from (“Monthly”) and corresponding automotive manufacturer websites Tesla makes the best electric vehicle in virtually all aspects; you get what you pay for. They have a much better range than any other EVs currently on the road. The tesla models also are much more luxurious as to be expected and have the most comfort and safety features. The Nissan leaf is the most popular EV because of its practicality and lower price.
Charging costs are just as important as charging speed. Charging cost can vary greatly, much more so than gasoline. While gasoline may fluctuate more over a long term, electricity rates fluctuate daily by pretty high percentages. Different locations will also have different electricity rates. This has a lot to due with how rural an area is. Rural or remote areas often have more expensive electricity (Lachnit). Even with fluctuations, the cost of charging an EV is still in the single digits. For a car with a range of around 100 miles and that is charged in a urban or suburban area, the charging cost could be just a few dollars. Hawaii has some of the most expensive electricity rates. At these rates and current gas prices, a gas car would need to get around 40mpg to match the cost of electricity for an EV (Lachnit). Overall, the BEV is superior in cost efficiency in almost every case when compared to gas vehicles; the only drawback is range and charging time. The cost of ownership of EVs has been going down as the technology advances. One of the key things that keeps costs down is that batteries do not have to be replaced as much as they used too, and since batteries are expensive, it cuts cost significantly Figure 3: Top 5 EV data from (“Monthly”) and corresponding automotive manufacturer websites Tesla makes the best electric vehicle in virtually all aspects; you get what you pay for. They have a much better range than any other EVs currently on the road. The tesla models also are much more luxurious as to be expected and have the most comfort and safety features. The Nissan leaf is the most popular EV because of its practicality and lower price.