Electric Vehicles: Cost Considerations and Savings Opportunities

Electric vehicles (EVs) offer advantages and challenges compared to gas-powered vehicles. While the upfront costs may be higher, EVs can significantly reduce maintenance and fuel expenses. Mary Brazell from the Oregon Department of Transportation highlights the superior energy efficiency of electric motors, resulting in greater mileage compared to gas-powered vehicles. Most EV owners conveniently charge their vehicles at home, leading to substantial savings. Common maintenance costs for EVs are limited to tires, wipers, and air filters, eliminating expenses like oil changes.

The Oregon Clean Vehicle Rebates program offers incentives for leasing or buying qualifying EVs. This program has been highly successful, with increased demand each year. As of April 22, 2024, over $7 million in funding is available for this program, which expires on June 4th. Currently, about 114 makes and models of battery electric and plug-in, hybrid EVs are available, ranging from sedans to utility vehicles and pick-up trucks. Even used EVs may qualify for state and federal discounts, further reducing the cost of ownership.

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