How EVs Can Save You Money During Your Summer Road Trip
Greetings, fellow travelers and eco-conscious enthusiasts! Summer is just around the corner, and many of us are eagerly planning our road trips. If you're anything like me, you're looking for ways to enjoy your summer travels while also keeping costs low.
But did you know your summer road trip can be cost-effective, environmentally friendly, and fun if you switch to an Electric Vehicle (EV)?
Here's how...
Cost-Efficiency of EVs
The first major cost-saving advantage of EVs is their incredibly low running costs. With an EV, you can say goodbye to expensive trips to the gas station. Instead, you'll be "fueling up" your vehicle with electricity. According to the U.S. Department of Energy, on average, it can be more than twice as cheap to travel by EV than a conventional gas-powered car.
Additionally, EVs have fewer moving parts than conventional vehicles, which translates to lower maintenance costs. With no engine oil to change, no transmission fluid to replace, and no exhaust system to maintain, you can save hundreds of dollars annually on upkeep.
Charging Stations: Cost and Availability
When planning a road trip, the availability and cost of charging stations are important considerations. Thankfully, the U.S has an ever-expanding network of charging stations. Many of these are fast-charging stations that can get your vehicle road-ready in under an hour. Compared to traditional gas stations, the convenience of fast charging can significantly reduce downtime during your journey. Additionally, for businesses looking to support this growing demand, partnering with an EV charging station distributor for businesses can be a strategic move. This not only caters to eco-conscious travelers but also enhances the overall travel experience by providing a more sustainable and efficient option.
While some charging stations charge fees, others are completely free to use. It's also common for hotels, resorts, and other accommodations to provide charging stations to guests at no additional cost.
Apps like PlugShare can help you locate charging stations along your planned route, and inform you of their costs (if any).
Installing an EV Charger at Home
One key step towards embracing the EV lifestyle and preparing for your summer road trip is having an EV charger installed at your home. This gives you the convenience of charging your vehicle overnight, ensuring you're always ready for the next day's adventure.
Professional services like EV Charger Installation can guide you through the process of selecting and installing the right charger for your home and vehicle. The cost of installation can often be offset by federal, state, or local incentives, which further enhances the affordability of owning an EV.
Incentives and Subsidies
Governments worldwide are encouraging the adoption of EVs through a range of incentives and subsidies designed to make EV ownership more appealing and financially feasible.
In the United States, for example, the federal government offers the Federal Electric Vehicle Tax Credit. This provides a tax credit of up to $7,500 for new EVs, effectively reducing the purchase price. The exact amount of this credit depends on the battery capacity of the vehicle and the manufacturer's total EV production.
In addition to federal incentives, many states offer their own incentives. California, for example, provides the Clean Vehicle Rebate Project (CVRP) offering rebates for the purchase or lease of qualifying vehicles.
Utilities also play their part. Many electricity providers offer time-of-use rates that provide cheaper electricity during off-peak hours, typically overnight. This makes it less expensive to charge your EV at home, and can be an excellent cost-saving strategy.
Other subsidies can include grants for home charging equipment, reduced vehicle registration fees, free parking in city centers, and the use of carpool lanes even with a single occupant.
Resale Value
The resale value of EVs is another important financial aspect to consider. In the past, concerns about battery longevity affected the resale values of used electric cars. However, as battery technology has improved, these concerns have largely dissipated.
As EVs continue to become more mainstream and the demand for used EVs rises, resale values are improving. Certain models, such as the Tesla Model 3, have proven to hold their value exceptionally well. According to a 2020 study by Autolist, the Model 3 was found to depreciate much less than the industry average for all vehicles, including gasoline-powered counterparts.
Furthermore, as the infrastructure supporting EVs grows and more people become aware of the economic and environmental benefits of EVs, the demand for both new and used EVs will likely continue to increase, thereby supporting strong resale values.
A couple of factors contribute to this trend. First, the lower total cost of ownership for EVs (considering factors like fuel costs and maintenance expenses) makes used EVs appealing to budget-conscious buyers. Second, the public’s growing awareness and acceptance of EVs are expanding the market for used electric cars.
Eco-friendly Destinations: A Perfect Match for EVs
An additional advantage of EV road tripping is the ability to visit eco-friendly destinations that support electric vehicles. These destinations often have extensive charging networks, allowing you to explore to your heart's content without the anxiety of range limits.
One such destination is California, home to a multitude of national parks, beautiful coastlines, and bustling cities, all easily accessible thanks to the state's robust charging infrastructure. In fact, California has the most charging stations of any state, making it a perfect destination for your summer EV road trip.
As well as providing practical benefits, these destinations often share a commitment to sustainability. From hotels that utilize renewable energy to restaurants that source locally-grown organic produce, these locations allow you to align your trip with your environmental values. You'll be able to enjoy your vacation knowing you're contributing to local economies that prioritize sustainability.
Portland, Oregon, for instance, is renowned for its sustainability efforts, boasting numerous EV charging stations and a commitment to renewable energy. Here, you can explore the city's vibrant arts scene, unique food carts, and stunning rose gardens, all while minimizing your carbon footprint.
The Future of Travel is Green
As the adoption of EVs accelerates, more destinations are recognizing the importance of catering to this growing demographic. Countries across Europe are also investing heavily in EV infrastructure. Norway, for instance, has the highest per-capita number of electric cars in the world and offers a vast network of charging stations across the country. The nation's breathtaking fjords, aurora borealis, and rich Viking history can be comfortably explored in an EV.
The shift towards eco-tourism and sustainable travel practices is only set to increase in the coming years. By choosing to travel in an EV, you are not only saving money but also joining the forefront of a greener, more sustainable travel revolution.
It's clear that EVs present a myriad of benefits for cost-conscious, eco-friendly summer road trippers. Lower running costs, maintenance savings, access to charging stations, incentives and subsidies, and a strong resale value all contribute to making EVs a smart choice for your summer adventures.
Author: Jennifer Bell is an eco-conscious person, mother of two, and writer for electric services providers in New England.
Disclosure: This is a collaborative post.