Electric Vehicles – the times are changing fast and things are getting interesting.

The upfront cost for the EV, the charging station, and the incentives being offered.  The EV costs more, even after vehicle and charging station incentives.  It is estimated the additional cost at $7,400 for a Nissan Leaf versus a basic Toyota Camry.

And then the annual cost.  A Nissan Leaf, is estimated to get about 3 miles per kWh.  So what matters is how much a driver drives and the cost of electricity.  The average driver drives 15,000 miles per year, or 41 miles per day, which should be reasonably feasible in an EV. That’s 5000 kWh per year. At 5 cent/kWh (night rate) that’s $150 per year, compared to about $1440 per year paid for gas.  Seems to start adding up in favour of the plug-ins.  Should crunch a few more numbers…