But electric cars aren’t new. In fact, they’ve been around for more than a century. So why are they gaining in popularity now?
The Tesla Effect
Tesla wasn’t the first electric car to come to market, and it’s certainly not the car that most people can afford. But Tesla has something going for it: it’s sexy. The company has shown that electric cars can be both nice to look at and fun to drive.
While Tesla makes some of the fastest cars around, electric vehicles in general benefit from the near-instant torque of their electric motor. Having driven an electric vehicle, I can attest to just how fun they are to drive. I wasn’t sure what to expect when stepping into one for the first time, but the thrill of being pushed back in the seat as the car jumps into motion is hard to replicate without getting behind the wheel of a muscle car.
Battery technology has come a long way in recent years. The latest batteries can give you the peace of mind that comes with a longer range. And more batteries being manufactured means lower costs. Charging stations are also becoming more common, making it easier for you to top off a charge while you’re out and about.
But don’t they cost a lot?
More manufacturers than ever are ramping up electric car production and driving prices down.
How much do you think you’d pay for the most popular electric car, the Nissan Leaf? You might be surprised to learn it can now be yours for under $22,000 after federal tax credits! That’s way below the average $32,000 price sticker for gas-powered cars.
Filling up that Nissan Leaf is also much cheaper than filling up your gas tank. The U.S. Department of Energy has come up with a direct comparison that they call the eGallon — the cost of fueling a vehicle with electricity compared to a similar vehicle that runs on gasoline. Based on this, you can expect anywhere from a 50% discount to as much as 75% off on your fuel. Want to save even more? Add solar power to your home and you’ll get an even cheaper charge.
You’ll also save on maintenance, thanks to electric motors being so much simpler than gasoline engines. But if you’re worried about your mechanic getting lonely, then an electric car may not be for you.
Is an electric vehicle right for me?
The truth is, whether an electric car is right for you is a complicated question. Electric vehicles have their benefits, but they don’t make sense — yet — for everyone. What do you plan to use your car for? How far you will be driving between charges? Do you have a place to charge an electric vehicle? You’ll need to ask yourself these questions to really know if you’re ready for an electric car.
Domino can help simplify the process for you. Our experienced Energy Advisors will go over your situation with you to determine if an electric vehicle is best for you. Domino can help you decide if you want that Leaf or if a Chevy Volt is the better choice. Maybe a hybrid like the Toyota Prius makes more sense for your commute. We can even help you with financing. The only thing you’ll need to figure out on your own is which color you’d like.