By Kris McDowell
The purchase of a vehicle is a big decision. If you’ve been considering buying an EV (electric vehicle), before jumping in it’s a good idea to consider the costs of doing so—the up front costs, the ongoing costs and the potential “lifestyle” costs.
Usually when considering the purchase of a vehicle, the first thing that comes to mind is the up front cost to purchase the vehicle. Portland General Electric (PGE) has an EV Costs & Savings Calculator () that shows a wide variety of models with details on cost, range, charging, environmental benefits and how much you can save by driving electric. There are all-electric vehicles that don’t use any gas, as well as plug-in hybrids that run like an EV, using battery power, but then are able to switch over to gas power when the battery is depleted, and extended range electric cars that have a small gas generator that kicks in to charge the battery when it’s depleted.
With the rise in EVs, there are a number of rebates and tax credits that may be available to help offset the cost to purchase one. Rebates and incentives vary depending on model, purchase date and personal income. Forth, a local nonprofit whose mission is to electrify transportation, has a list of incentives, rebates and savings broken down into federal tax incentives (up to a $7,500 tax credit), state rebates, county incentives (up to $5,000 for Multnomah, Clackamas and Clark County drivers) and charging infrastructure rebates and credits. Explore the savings available to you at forthmobility.org/why-electric/incentives-rebates.
All vehicles require periodic maintenance, however EVs do not require as much maintenance as gas-powered ones since they don’t need oil changes or air-filter replacements and their regenerative braking (recovering the energy normally lost to braking) saves on brake pad replacements. Maintenance like service checks and tire rotations will still be needed however. According to AAA, if maintained according to the automakers’ recommendations, EV’s annual maintenance cost is $949 less than gas-powered ones.
The cost to charge electric vehicles depends on both the vehicle and your driving habits. EVs vary on the range they can go, many going 100-300 miles on a full charge. Most EV owners charge them at home, which can be done by using a standard wall outlet (Level 1) or a faster home charger (Level 2) that uses a 240-volt outlet. Level 1 chargers are great for overnight charging as it will take eight hours for a full charge. Level 2 chargers can fully charge in four hours, making them ideal for charging at home, work or on the road. PGE’s Smart Charging program offers savings up to $300-$6,000 with rebates on Level 2 chargers and electrical panel upgrades as well as ongoing bill credits available. Similarly, Pacific Power offers savings up to $500-$1,500 for Level 2 chargers.
Another cost to consider, especially if this will be your first EV, are any potential lifestyle costs. Traditional gas stations are relatively easy to find. But depending on where you’re driving, EV fueling stations can be more challenging to find. Think about what your average driving range is, as well as how often you take longer trips.
If you’re on the go and need to “gas up,” there are nearly 1,250 public charging stations available with more popping up all the time. Level 2 chargers take longer but typically have a lower charging session price while fast chargers (Level 3) get the job done more quickly (up to 240 miles per charging hour), albeit at a more expensive price. There are a number of apps available to help you locate a charging system near you.
As with any vehicle purchase, you’ll want to take a test drive to find the right model. If this is your first EV, a longer evaluation may be helpful. Forth offers multi-day rentals; visit forthmobility.org for details.