There are many benefits to electric vehicles (EVs). Since making a vehicle purchase decision isn’t an easy task, there are important items to consider if you’re planning to go electric. An EV can be a great fit for some.
Did you know that when you purchase a new EV, you could be eligible for a federal tax credit of up to $7,500? To learn more about this tax credit and other incentives that you may be eligible for, visit the Department of Energy.
When you drive a fully electric vehicle, there’s no need for oil changes, fuel filters, new spark plugs, yearly emissions tests and other costly maintenance.
With an EV you will no longer have to fuel up at the gas station, but instead, you can charge at home or at one of many public charging stations across the country. While an efficient gas-powered vehicle can run for about 10-15 cents per mile, the average electric vehicle can run for just 3-5 cents per mile. Pennies per mile add up to big savings over the lifetime of the vehicle!
Today’s EVs feature advanced battery design that makes EVs more efficient, with enough power to take you to work and back again. Your car spends 90 percent of its time parked. And since you can recharge your battery each time you return home and park your car, it’s far more convenient than having to get gas.
Local Economy Boost
If 30,000 people in the BEC service territory switched to EVs, $13.5 million would be saved in fuel costs and around $7.5 million in power costs would go back to your member-owned cooperative instead of to international oil companies. This means more money stays locally.
You might ask what the impacts of EVs are on the electric grid. Most EVs are charged at night, like you would with your cellphone. The current demand of EVs on the grid is not significant enough according to the Electric Reliability Council of Texas. BEC recommends charging EVs during off-peak hours and even provides special time-based usage rates for EVs as an incentive.
EV Tools & Resources
EV FACTS & MYTHS
EV Time-Based Usage Rates
Example of Savings
*Reflected price in savings example is the energy cost only and does not include delivery fee, fuel cost adjustment, availability charge or other taxes and fees that may apply. All TBU rates listed reflect Summer TBU rates effective as of June 1, 2022. EV Charger must have Apolloware installed for EV TBU rates. Actual billed energy amounts depend on season and time of day usage and savings are not guaranteed.