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The Benefits of Electric Vehicles

It’s a big change to switch from fueling at the pump to fueling at an outlet, but drivers across the country are seeing the benefits of making this change.

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The Benefits

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    Cost Savings

    If you drove 12,000 miles in a year, an all-electric vehicle could save you about $1,000 in fuel savings alone!

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    Energy Independence

    Electric vehicles are fueled with locally generated electricity, not imported oil. Conventional transportation is wholly dependent on petroleum and results in the U.S. spending over $1 billion per day on foreign oil. Electricity generation in the U.S. uses a diverse mix of domestic sources, and only 1 percent comes from oil.

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    Power Sustainability

    Electric vehicles can help encourage sustainability through renewable energy, grid reliability and power outage response. They support greater integration of renewable generation, help manage peak loads, optimize energy effciency, and enable future potential for vehicle-to-grid energy storage and power supply.

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    Environmental Improvements

    Electric vehicles do not produce vehicle emissions while in all-electric mode, and they are cleaner even when considering the emissions from generating electricity to charge. In cases where electricity is generated with renewable, hydro or nuclear resources, electric vehicles are truly emission and pollution free.

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    Economic Development

    As the demand for electric vehicles increases, more opportunities will be created for research and development, manufacturing, electrical contracting and green tourism. In North Carolina, there has been an increase in battery and charging equipment manufacturing, lithium mining and battery recycling.

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    Driving Performance

    Electric vehicles are fun to drive! They have instant torque and offer a very smooth ride. All-electric models have no gasoline engine to cause vibrations and noise.

How Much Can You Save?

Annual Fuel Cost savings*
Miles Per Year Avg. Miles Per Day Gasoline Cost Per Year Electric Cost Per Year Annual Savings
10,000 27 $917 $333 $584
12,000 33 $1,100 $400 $700
15,000 41 $1,375 $500 $875
20,000 55 $1,833 $667 $1,166
25,000 68 $2,292 $833 $1,459

*Assumptions: Cost per gallon gasoline: $2.75, 30 MPG; Cost per kWh: $0.10