Basic Math Shows EVs Are More Affordable to Drive for 100 Miles

In a recent article, Jalopnik claimed that driving 100 miles in an EV is now more expensive than in an ICE. If this is accurate, then it would be a fascinating update. Is it truly cheaper to drive 100 miles in an electric vehicle than in a gas vehicle? It is, indeed. InsideEVs did the math to support it.

The following variables can serve as a starting point for setting levels in Boston, a city in the United States with higher energy costs than the rest of the country.

• An electric vehicle’s 3 kWh (or 33.3 kWh for a 100-mile trip) efficiency is about average.
• Boston’s typical electricity cost is 26 cents per kilowatt-hour.

The simplest and also most typical option for charging a vehicle is to charge from home; InsideEVs therefore made that assumption, which put the price at $8.66 for a 100-mile drive based on the electric rates in Boston.

However, the group also included starting points from different parts of the country so that the calculation is more representative. For example, in Winston-Salem, a 100-mile drive costs $3.67 at 11 cents per kWh. In Des Moines, 100 miles at 13 cents per kWh cost $4.32. In Seattle, a 100-mile drive costs $4.45 at 13.37 cents per kWh. In Dallas, a 100-mile drive costs $4.92 at 14.77 cents per kWh, and in Cleveland, a 100-mile drive costs $5.07 at 15.25 cents per kWh.

To set a baseline for the gas-car factors, InsideEVs selected a Toyota Corolla with a combined fuel efficiency of 35 miles/gallon; for the sake of simplicity, the group avoided hybrids. For 100 miles at 35 miles per gallon, 2.86 gallons would be required by the fossil-fueled Toyota Corolla.

Currently Boston’s average gas price is $3.43 dollars. With an internal combustion engine vehicle, it would cost $9.82 for every 100 miles, as opposed to $8.66 for an electric vehicle. Though close, driving an electric vehicle is still less expensive.

The Jalopnik piece also contains some strange accounting. Local greenhouse gas reduction efforts are significantly impacted by electrification. A paragraph in the article is devoted to the externalities of using a public charger. The article emphasizes the uneven distribution of EV charging facilities throughout the United States.

In addition, while there is technically a “cost” associated with waiting for a charger, there are other distinct, quantifiable expenses associated with gas vehicles, such as pollution in the air, the extraction and refinement of oil and the effects of climate change on society. InsideEVs argues that one cannot include bigger issues related to charging EVs without taking into account the complete picture of gas-fueled vehicles.

As the calculations above show, owning an EV from any of the existing manufacturers, including Rivian Automotive Inc. (NASDAQ: RIVN), is still a pocket-friendly decision on a day-by-day basis, just as it was before the energy crisis skyrocketed more than a year ago.

About Green Car Stocks

Green Car Stocks (GCS) is a specialized communications platform with a focus on electric vehicles (EV), as well as other emerging market opportunities in the green sector. The company provides (1) access to a network of wire services via NetworkWire to reach all target markets, industries and demographics in the most effective manner possible, (2) article and editorial syndication to 5,000+ news outlets (3), enhanced press release services to ensure maximum impact, (4) social media distribution via the Investor Brand Network (IBN) to millions of social media followers, and (5) a full array of corporate communications solutions. As a multifaceted organization with an extensive team of contributing journalists and writers, GCS is uniquely positioned to best serve private and public companies that desire to reach a wide audience of investors, consumers, journalists and the general public. By cutting through the overload of information in today’s market, GCS brings its clients unparalleled visibility, recognition and brand awareness. GCS is where news, content and information converge.

To receive SMS text alerts from Green Car Stocks, text “Green” to 888-902-4192 (U.S. Mobile Phones Only)

For more information, please visit https://www.greencarstocks.com

Please see full terms of use and disclaimers on the Green Car Stocks website applicable to all content provided by GCS, wherever published or re-published: https://www.greencarstocks.com/Disclaimer

Green Car Stocks
Los Angeles, CA
www.greencarstocks.com
415.949.5050 Office
Editor@GreenCarStocks.com

Green Car Stocks is part of the InvestorBrandNetwork.