Purchasing an electric car is a great way to conserve energy, be environmentally friendly, and reduce your carbon footprint. It's cheaper to run, quiet, and has tax incentives. In addition, you'll save money on maintenance, and you'll get the peace of mind that comes with knowing that your car isn't polluting the air.
Tax incentives
Whether you are a new or used car buyer, there are tax incentives for buying an electric car. The amount of the credit varies depending on the price of the vehicle. However, the maximum credit is $7,500.
There are a few requirements to qualify for the tax incentive. The buyer must have a modified adjusted gross income of less than or equal to $225,000 for an individual or $150,000 for a joint household. The tax credit will be fully refundable. The amount you receive will depend on the price of the vehicle and the capacity of the battery.
The tax credit is available to buyers of new, pre-owned, and leased EVs. A purchaser can claim only one credit per three years. If you buy a used vehicle, the credit will be worth $4,000.
A qualified EV dealer must disclose the value of the allowed credit. The credit can be claimed upfront or can be transferred to the dealer at the time of sale. The credit will last until 2032, and will be phased out after 200,000 qualifying vehicles are sold.
The new tax incentive will help millions more Americans benefit from clean transportation. The new rules are also designed to create homegrown jobs for decades.
The new EV program also includes strict sourcing requirements. Materials must come from countries that have free trade agreements with the U.S., and critical minerals cannot be sourced from foreign countries of concern. This should help create a robust American supply chain. Automakers will have a hard time building supply chains that meet the new requirements.
The new EV program also ensures that vehicles and components are built in North America. Manufacturers outside of North America can't import pickups, cargo vans, and EV battery parts. The European Union has indicated that it plans to challenge these new rules.
There are some exemptions to the federal EV tax incentive. The lead time for manufacturers to build an EV supply chain that meets the new requirements can be long. Some automakers have started building EVs in the U.S., including Volkswagen and Volvo.
Cheaper to maintain
Buying and maintaining an electric car can save you a lot of money over the lifetime of your vehicle. In fact, you could potentially save half of your total maintenance costs by going electric. This is because these vehicles have fewer moving parts than a conventional internal combustion engine (ICE) car. It also means there are fewer components that can break. This will save you money on maintenance, repairs, and replacement parts.
Consumer Reports recently published a study that looked at the real world costs of maintenance and repair for three types of vehicles. The results were based on data collected from hundreds of thousands of Consumer Reports members.
In their study, the researchers found that battery-electric vehicles (BEVs) and plug-in hybrids (PHEVs) cost half as much to maintain and repair as conventional ICE cars. They also estimated that EVs can save you an average of $600 per year on maintenance and repair.
These savings are not the only benefits of owning an EV. The batteries that power these vehicles degrade over time and will eventually need replacement. However, with newer models, these upgrades can lead to a lower lifetime maintenance cost.
The average gas-powered car owner spends around $30 on maintenance each year. The American Automobile Association collects data on the annual costs of maintenance for both gasoline and battery-powered vehicles. They found that the annual costs of electric cars are around $939, which is approximately 40 percent less than the average gasoline-powered car.
The average maintenance cost of a BEV is 6.1 cents per mile. This is considerably cheaper than the 10.1 cents per mile that a conventional ICE-powered vehicle needs to maintain. The batteries in these vehicles usually last about eight to ten years before they need to be replaced. The average cost of an EV's battery pack is $5,500.
A typical service visit in an EV includes tire rotations, diagnostics, and washer fluid topping off. The study also found that EVs require a larger number of labor hours to work on than a gas-powered car. EV technicians spent about 1.5 times as many hours on the job as technicians did on a conventional gas car. This may be because mechanics have additional certifications to work on EVs.
Environmentally-friendly
Buying an electric car is an excellent way to reduce greenhouse gas emissions and pollution. The electric motor is cleaner and quieter than a conventional engine. It also eliminates the need for antifreeze, brake fluid, and motor oil. Its main benefit is the reduction in air pollution.
However, even with all the benefits, there are still concerns over the environmental impact of electric vehicles. They are not 100% eco-friendly, though, as they depend on the power grid for energy.
The EPA calculates the CO2 emissions of an EV based on the region's electricity mix. In Norway, for instance, the electricity for wall sockets is produced from hydropower, and sometimes coal imported from abroad. In Germany, for instance, half of the electricity comes from gas and coal. In both countries, the emissions from driving an electric car are lower than the average new gasoline vehicle.
In the United States, transportation accounts for nearly 30% of greenhouse gas emissions. The environmental impact of an EV includes not only fueling and building it, but also emissions from mining metals and power plant smokestacks.
According to a recent report from the European Environment Agency, buying an electric car is better for air quality and climate change than using a traditional vehicle. In fact, in 95% of the world, an EV is more environmentally friendly than a traditional car.
For example, an electric vehicle generates about 75 percent fewer grams of carbon dioxide per mile than an average new gasoline car. An EV is also more efficient, and can be charged more than once, which reduces emissions.
It is also important to note that in most cases, the electricity grids in the United States and Europe are fueled by fossil fuels, and EVs depend on the power grid to charge. If a country's electricity mix is moving toward cleaner energy sources, the EV's lifetime carbon emissions will also decrease.
Some critics have argued that the best way to avoid emissions is to use public transport or cycling to work. Unfortunately, this isn't always an option for many. For example, in some communities of color, low-carbon transportation is limited.
Quiet
Those who have heard of electric vehicles are probably familiar with their reputation for being quiet. This is not only true for their drive trains, but also their noise levels. The lack of internal combustion engine noise means that electric cars are much quieter than their gas-powered counterparts.
Nevertheless, there is still a lot of work to be done in terms of reducing the noise produced by vehicles. Even the quietest electric cars are not as quiet as you might expect.
In fact, the average noise level of EVs is just one decibel, while the noise of gasoline cars can reach up to 40 dB. This means that while a quieter car might be safer for pedestrians, it may also be harder for people who are visually impaired to recognize it.
However, the new legislation that is being debated in Congress would require electric vehicles to make an audible alert when approaching a pedestrian. This could reduce the amount of accidents. And it might also help reduce noise pollution on our roads.
While quieter cars might be safer for pedestrians, there is also a danger that they can pose to children and animals. This is why the National Highway Traffic Safety Administration has introduced a "quiet care rule" that requires all electric cars to make sounds when they are at a speed of 19 miles per hour or more.
And in addition to being safer for pedestrians, it will also reduce the noise pollution on our roads. If we can create a cleaner solution, why not do it?
Fortunately, we are working on this problem. There are several companies that are working on creating quieter cars. The technology behind them is top-of-the-line. And with the increased popularity of EVs, it seems likely that we will see quieter highways and communities in the future.
Another solution to the problem is to add sound-deadening materials to internal combustion engines. These materials can be added to the cabin of a gas-powered car to mask the sound of the engine, but the overall effect of the added sound can be harmful.