Why drive an Electric Vehicle?
Over 500k American people already made the switch! Electric vehicles are the future of vehicle transportation. Plug-in electric vehicles are now feasible for most lifestyles and budgets. EV prices will continue to decrease while their range will continue to increase.
Besides the current financial savings on fueling a vehicle with electricity (which equates to approximately the same as gas at $1/gallon), electricity prices are much more stable than volatile gasoline prices and this allows EV owners to avoid the risk of future price surges of gasoline. For an average person that drives 12,000 miles/year – a gasoline powered vehicle driver will spend around $1,600 in gasoline verse an EV driver who would spend around $450 for electricity… or $5,750 in five years!
Externalities, or the side effect of pollution, resulting from emissions is a public health concern. EV’s have no tailpipe emissions such as carbon dioxide (CO2), carbon monoxide, (CO), oxides of nitrogen (NOx), particulate matter (PM), formaldehyde (HCHO), non-methane organic gases (NMOG), or non-methane hydrocarbons (NMHC), and therefore provide a real benefit to improving air quality for you, your family, and your community.
EV’s are more convenient than petroleum-powered vehicles and require less maintenance. Besides that fact that EV’s never require a trip to the gas station, charging can be done when you are sleeping at night, or during the day while at work, shopping or dining. EV’s are relatively simple machines and have much less moving parts than gasoline cars. There are a lot of fewer things to break which results in maintenance costs being less.
EV’s will improve our society, the environment, and our economy. EV’s have a smaller environmental impact than gasoline powered vehicles. EV’s put fewer greenhouse gases into our atmosphere compared to vehicles powered by gasoline. Greenhouse gases are associated with climate change and driving an EV will substantially reduce your carbon footprint.
What is a plug-in electric vehicle?
Almost all manufacturers sell EV’s and new electric models will continue to be built. EV’s are vehicles that can simply be plugged in with a cord that can get energy from electricity as opposed to gasoline. There are two main types of EV’s: all-electric and plug-in hybrid electric (PHEV). All-electric vehicles have a rechargeable electric battery and rely solely on electricity as their main power train. For example, a 2017 Chevrolet Bolt.
The PHEV setup would combine a plug-in battery strong enough to serve as the car’s main power train, plus a motor with a small gas engine that would work as a generator, creating electricity to keep the vehicle going when the battery was depleted. For example, a 2017 Chevrolet Volt.
EV’s are quiet, smooth and quick! It only takes one ride in an EV to understand their exhilarating driving experience.
Federal Purchase Incentive:
The federal government allows up to $7,500 as a federal income tax credit on an EV purchase. The credit amount will vary based on the capacity of the battery used to power the vehicle.
Federal Charging Infrastructure Tax Credit
The Fixing America’s Surface Transportation Act reauthorized the tax credit for EV charging supply equipment until 12/31/16. If the charging station is considered personal property, the tax credit is the smaller of 30% of the station’s cost or $1k; if the charging station is considered business property, the credit is worth the smaller of 30% of the station’s cost or $30k.
The Massachusetts Offers Rebates for Electric Vehicles (MOR-EV) program offers rebates up to $2,500 for the purchase or lease of PEVs.
The Massachusetts EV Incentive Program provides grants to businesses with 15 or more employees for the installation of Level 1 or Level 2 EV charging stations. The program will provide 50% of the funding (up to $25,000) for the hardware costs.
Drive Electric Vermont offers a rebate of up to $1,000 for the first 200 applicants who purchase a PEV. Incentive varies based on battery size.
The VT EV Charging Station Loan Program offers loans up to $100,000 for EVSE through the State Infrastructure Bank. There is a 1% fixed interest rate and a 2% commitment fee.
DRIVE offers a rebate up to $2,500 for the purchase or lease of a new PEV. Funding is limited.
The Connecticut Hydrogen and Electric Automobile Purchase Rebate (CHEAPR) offers a rebate for PHEVs and BEVs between $750 and $3,000 depending on the size of the battery.