- Why Should I Learn about the Pros and Cons of Electric Cars?
- Pros of Owning an Electric Vehicle In 2022
- Downsides of Electric Cars
- Is Owning An EV Right For You?
- Frequently Asked Questions about the Pros and Cons of Electric Cars
The popularity of Electric Vehicles (EVs) is rapidly growing within the U.S., especially since the government considers this the main way to achieve the Zero-Emission Vehicle (ZEV) goal. Some states are even banning sales of new Internal Combustion Engine (ICE) vehicles in the future.
Considering the increasing importance of EVs, you should know about the biggest pros and cons of electric vehicles. In this article, we bring you a complete list of the advantages and disadvantages of using electric cars.
As EVs continue to gain popularity, they will be widely used across the country. Actually, they could even fully replace ICE vehicles sooner than expected. This is why you should learn about the pros and cons of electric vehicles, as soon you will probably need to purchase one.
EVs can save you money, can give you the same or similar performance to your traditional gas vehicle and you may also avoid the need to go to the gas station to fill up your vehicle. In the near future, some EVs might also be entirely charged with renewable energy, highly reducing the carbon footprint of many drivers in the country.
Eventually, everyone will have an electric car. However, having a better understanding of the benefits and downsides of electric vehicles will help you decide whether purchasing an EV now is a good choice for you.
Driving an EV saves money and gives you many other benefits in the process. Here we list some of the potential benefits from our list of pros and cons of EV cars in 2022.
1. Driving an EV Is 50% or More Cheaper Than ICE Vehicles
One of the major advantages of owning an electric car is the inexpensive cost per mileage compared to ICE vehicles. According to the U.S. Department of Energy, driving an EV for 100 miles costs on average $3.00. On the other hand, driving an ICE vehicle for the same 100 miles costs $14.75 (considering a 25 MPG ICE vehicle and the cost for gas at $3.689). This means that driving expenses of EVs are nearly 80% cheaper than ICE vehicles.
2. You Can Optimize Your Routine by Charging EVs at Home
There are many gas stations to fill up the tank of ICE vehicles, but in some cases, you have to go out of your way to find the nearest station. On a good day, this takes no time, but there are days with traffic and crowded stations. An advantage of EVs is that you can charge the battery overnight at home or the office with the right charger, this means you can go straight home from work and have your battery charged at 100% the next day.
3. EVs Are Energy Efficient
One of the main advantages is the energy efficiency of electric cars. ICE vehicles are highly inefficient, producing losses of 70% up to 88% during the combustion process, using only 12% to 30% of the burned gas to power the vehicle. EVs are more energy efficient, using around 77% of the energy they consume from the grid.
4. EVs Allow You to Have Zero-Emission Drives with Renewable Energy
EVs generate zero tailpipe emissions, but they are not always entirely emissions-free. The carbon footprint for an EV highly depends on the origin of the energy used to charge it. Charging an EV with electricity coming from fossil fuels generates a carbon footprint, but if using clean renewable energy you can reduce your carbon footprint to a minimum, far less than with an ICE vehicle.
5. Obtain Incentives and Rebates on Tax Credit When Buying an EV
One of the most financially lucrative advantages of an EV is that you can apply for a great incentive. To incentivize U.S. citizens to acquire EVs, the government has set in place an incentive plan offering rebates for around $7,500 on taxes for new EV owners.
Electric vehicles have a few cons attached to them. In this section, we explain the most important ones.
1. High Upfront Investment
One of the most negative aspects of electric cars is their cost. Buying an EV represents a high upfront investment that most families cannot afford. The average cost in 2022 was estimated at $67,000. It has been estimated that EVs will be more affordable in the future, but we have to wait a few years for that.
2. The U.S. Charging Infrastructure Still Has a Long Way to Go
One of the drawbacks to electric cars is that the U.S. EV charging infrastructure requires work to supply the demand of EV drivers around the country. Indeed, EVs can easily be charged overnight with a Level 2 EV charger, but some EV owners may not be able install one of these chargers, which is why they can only charge EVs in public charging stations. While the charging infrastructure expands, this could be an issue.
3. Battery Packs Are Expensive to Replace
One of the cons of having an electric car is the replacement costs for an EV battery pack. While the replacement costs for the gas tank of an ICE vehicle are relatively cheap, this is not the case for an EV battery pack, which can have a replacement cost that can go up to $20,000. According to Federal Laws, warranties for EV battery packs are covered for at least 8 years or 100,000 miles.
Learning about the advantages and disadvantages of electric cars can help you understand more about EVs, but it is equally important to determine if an EV is the right fit for you. EVs will likely be used by everyone in the future, but currently, there may be some considerations to keep in mind to know if you should get one.
EV owners should be people who have an important concern for the environment and want to reduce their GHG emissions, while at the same time, want to get ahead of the curve by purchasing a sophisticated vehicle. Budget is also another consideration. Since the average cost of an EV is about $67,000 as of 2022, many people may not be able to afford one.
While the costs for EVs go down, another important thing to keep in mind is whether you will have access to a level 2 EV charger installation at home or at your workplace. Even if you live in an apartment complex, level 2 charging stations for a condominium can be installed. This is important as it is the best option for an EV owner to have their charging source in a place they visit daily.
After learning all the pros and cons of an electric vehicle, you now have a better understanding of whether they are the right fit for you. Below you can find further information on the subject to answer some questions you may have.
1. Will the EV Financial Incentives Be Available Permanently?
The incentive for EVs delivering tax rebates is one of the main advantages of owning an electric car. The first tax rebate for EVs ended in 2021 and was renewed in 2022 with the Alternative Fuel Refueling Property Tax Credit, this incentive is available until the end of 2032. We recommend you acquire an EV before that time since we do not know if it will be renewed again or reduce its amount.
2. Will the U.S. EV Charging Infrastructure Be Enough For All EVs in the Future?
The limited U.S. EV charging infrastructure will not be one of the negative aspects of electric cars for long. Aside from entrepreneurs making a business out of EV charging stations, the U.S. government is working towards the future National Electric Vehicle Infrastructure (NEVI) that all American EV drivers deserve. The U.S. government has already destined $5 billion towards this goal.
3. Are EVs Truly Going to be Affordable in the Future?
The cost of EVs is one of the most concerning cons on our list of benefits and drawbacks of electric cars, but EVs will become affordable in the future. A study performed in Germany showed that costs for small EVs declined by 23% and costs for medium-sized ones declined by 29%. Additionally, a team of financial analysts from Morgan Stanley deduced that EVs might get to cost $5,000 – $3,000 in the future, so you can be sure that costs will indeed go down as time goes by.