alt Hacker NewsDepends on where you live. In states like Connecticut, or certain areas of California (PG&E Bay Area customers), the ROI is very long or simply doesn't pencil out at all. I think for Connecticut, which has high electricity prices but low gas prices, it's just net negative. For me in SF, despite high gas prices the ROI is just too long (5-10 years?), and that's before factoring in the ~$5000+ required for updating my electrical box, which is a conservative estimate because now the city requires the meter to be outside the house, whereas it's currently in the garage.
Replies
This used to be true, but gas is $6.30/gallon in California now with no particular reason to think it is coming back down. I haven't actually re-done the numbers, but I have to imagine the ~40% increase in gas prices over the last year have significantly moved the needle in CA.
Until your current car dies, ges old or whatever happens, you decide you need a new one anyway. At that point the ROI is not the total cost of the car but the difference compared to your alternatives.
Connecticut has more expensive gas than either New York or New Jersey too!
I drive an EV because in every dimension I care about it’s a superior vehicle. They drive better, sound better, and use a fundamental force rather than flintstone fire smoke stink. It’s time to move on from pouring distilled dinosaur juice into your explosion mobile and join the Maxwell equation crowd. The upgrade of your electric is a one time cost that will enable you to use an EV until you move, and improves your home value, so hard to count it into the cost of the car.
Plus they last basically forever and require almost no maintenance. I like being able to never change oil, tune up, belts, whatever every few months. Every few years I get the cabin filter changed and that’s it. In 10 years the battery might be reduced by 20%, and I might replace the batteries around 15-20 years out, but I expect to literally drive it into the ground. (Mine is a Tesla with unlimited super charging for life, and I live next to a super charger)
I have family overseas and will likely buy them one of these EV Camrys. If they’re good, I might get one for my daughter. At $30k it’s fairly affordable.