There are plenty of reasons why people are switching to electric cars, but one of the most popular is the amount of money you can save. For many drivers, the cost of running an electric vehicle (EV) is far less than what they would spend on gas for a traditional car.
The American Automobile Association (AAA) says that the average American driver spends about $3,000 a year on gasoline. By comparison, owning and running an electric car can cost much less. In fact, a study by Consumer Reports in 2020 showed that EV owners typically spend around 60% less on fuel every year than those who drive gas-powered cars.
It’s no surprise that more than 2.5 million electric cars are now being driven across the United States. As more people discover the benefits, this number is expected to grow even more.
Take YouTuber Mac from “Mac’s Tech Toy Box” and his wife as an example. They switched to electric cars two years ago, giving up their gas-powered vehicles for two Tesla Model Ys. Before making the switch, they were paying about $225 per month for electricity at home.
After getting their first Tesla, even though they were driving up to 500 miles a week, their electricity bill actually went down to $214. This was during the cooler months, so they didn’t use the car’s air conditioning much, which is known to drain battery power. #
Later, they purchased a second Tesla, which raised their electricity bill to $276 per month. Even with this increase, their monthly cost was far lower than what they used to spend on gas. Mac explained that when he drove a Mustang, he spent about $40 a week filling up the tank, which added up to $160 a month. If his wife had a similar car and used it as much, their combined gas cost would have been $320 each month. Switching to EVs helped them save hundreds of dollars every year.
One big reason for these savings is that they charge their cars at home instead of relying on public superchargers, which can be more expensive.
According to SolarReviews, the cost to charge a Tesla Model Y Performance at a supercharger can range from $7.84 to $42.75, depending on the location. Superchargers usually charge between $0.11 and $0.60 per kilowatt-hour, so costs can add up quickly.
Other Tesla owners have also shared how much they’ve saved. For example, one YouTuber calculated that it cost just $375 to charge their Tesla over an entire year, which worked out to only $0.023 per mile. When you compare this to the rising cost of gas, it’s clear that EVs are much more affordable to run over time.
In addition to saving money, electric cars are also better for the environment, quieter to drive, and often require less maintenance than gas-powered vehicles. It’s no wonder why so many people are jumping on the EV bandwagon.
