Why NOW is the Best Time to Buy an Electric Vehicle

As recently as a decade ago, electric vehicles were barely considered a viable option for drivers, but times have most certainly changed! With more stylish options than ever before, gas prices expect to continue rising throughout 2022, and the threat of climate change inspiring more individual action, electric vehicles are now at the forefront of the personal transportation conversation.

From constant increasing demand  to the beneficial long-term savings it can bring, here’s why you shouldn’t wait to buy an electric vehicle.

A Brief EV History

The United States Department of Energy reports that the concept of the electric vehicle, or EV, was first invented in the 1830s, but it wasn’t until the late nineteenth century that these types of cars even became feasible options for drivers.  They were still largely priced out of reach and Ford’s Model T made gas-powered vehicles were much more affordable for the average consumer.

Throughout the next century, demand for electric vehicles ebbed and flowed, largely because there were still significant drawbacks of these types of cars compared to  gas-powered vehicles. Limited range (often less than 60 miles per charge), high prices, and overall clunky designs kept people generally uninterested in sacrificing their personal comfort for the sake of lessened emissions.

Major Electric Vehicle Trends

Towards the end of the twentieth century, lawmakers passed legislation like the Clean Air Act, renewing manufacturers’ interest in EV production. GM’s EV1 started to gain traction, as did the first mass-produced hybrid vehicle: the Toyota Prius in 2000. It wasn’t until the mid-2000s that interest, style, and accessibility became top of mind. It took Tesla Motors coming onto the scene with a proposed 200-mile range vehicle in a sleek, new look to spark the next several decades of innovation across transportation giants.

During the 2010s and into the 2020s, EV charging stations became more widely available across the United States, including charging  at people’s homes, and the price of EV batteries decreased dramatically. That brings us to today, where demand for electric vehicles is higher than ever before. In fact, global sales of electric cars more than doubled from 2020 to 2021, tripling in worldwide market share, with no signs of slowing down in 2022.

Electric vehicles are already exploding in popularity in major markets like Europe and China, and adoption in the United States is already taking place.

Benefits of Electric Vehicles

Whether you’re in the market for a new car  now, or are simply exploring your options for the future, there’s no better time to begin researching the value an electric vehicle could  offer you and your family. Here are a few of our favorite benefits of going electric.

1. On average, it costs half as much to drive an electric vehicle as it does to drive a gas-powered vehicle.

It’s been reported that drivers save on average more than $700 a year by driving an electric vehicle. In fact, the Department of Energy even has an online calculator that can help you calculate your estimated savings per gallon by switching to electric in your state. For some, these savings alone are enough to make the switch.

 2. They dont have a tailpipe, and therefore do not release tailpipe emissions.

Gasoline and diesel-powered vehicles release carbon dioxide into the air through their tailpipes, the release of which is responsible for more than 60 percent of the greenhouse effect. While there are minimal outputs resulting from charging EVs with electricity, these cars do not release the emissions that gas-powered vehicles do. Public perception seems to align with this as well, with two-thirds of surveyed Americans reporting that electric-powered vehicles and trucks are better for the environment than gas-powered options.

3. Come tax season, you may be eligible for State and Federal Tax Credits.

Depending on the make and model of your electric vehicle, you can potentially be eligible for up to $7,500 in Federal tax credits at the end of the year, simply from going electric. New York State also offers incentives via their Drive Clean Rebate offer.

4. Electric vehicles are extremely fast, highly efficient, and require comparatively very little maintenance.

Check, check, and check! Car and Driver reports that some of the fastest-accelerating vehicles just happen to be electric, and it’s no surprise given the simplicity of their engines. With EVs, torque is also delivered instantly, making them feel faster and  very fun to drive.

As far as maintenance goes, the Department of Energy explains that there are many reasons why fully electric vehicles typically require less maintenance than conventional vehicles:

  • The battery, motor, and associated electronics require little to no regular maintenance
  • There are fewer fluids, such as engine oil, that require regular maintenance
  • Brake wear is significantly reduced due to regenerative braking
  • There are far fewer moving parts relative to a conventional gasoline engine.”

 

All in all, the combination of savings of time, money, and environmental resources makes going electric feel like a no-brainer.

Why Now is The Best Time to Buy an EV

When it comes to purchasing an electric vehicle, there are several factors that may inspire you to make the switch sooner rather than later.

The fact  that demand is rising faster than supply may be able to keep up is one of the major reasons to invest in an EV now rather than wait. In fact, Google reported that more people  are searching for information about EVs now along with  where to buy them. While this is a  universal trend, the interest is growing in New York and our own local communities as well. In fact, according to the Long Island Drive Electric Coalition, Long Island is a leader in electric vehicle adoption in the state.

As the price of oil continues to climb,  the State of New York is not exempt from the catastrophic inflation seen across the country. Even if gas prices stabilize over time, there’s no telling when (or how much) they could skyrocket again in the future. EVs eliminate the need for you to be at the mercy of the oil industry, allowing you to experience reliable energy at steady prices and even charge your vehicle from the comfort of your home.

While in the past, people may have viewed EVs as clunky, there are now more than 60 unique models of electric cars available from major vehicle manufacturers around the world, meaning there’s bound to be something out there that suits your style. There are even luxury electric SUVs nowadays!

 Eliminate the Hunt For Charging Stations with Home EV Charging

If the idea of having to find space at a local EV charging bank has you stressing out, keep in mind that home EV charging options make keeping your electric vehicle powered as easy and hassle-free as possible.

Level 2 chargers come with a 240-volt charger and offer about 37 miles of range per hour charged. EV chargers like ChargePoint and JuiceBox, sold and installed by SUNation Service, even come with free apps that allow you to track your vehicle’s charging status and more. Worried about the cost? In 2022, these chargers can be eligible for a $500 rebate from PSEGLI and a federal tax credit. Contact our team to learn more about current rates.

Charging Your Electric Vehicle with Solar Energy

For the most sustainable charge for your EV, look to the sun. With solar panels on your roof providing clean, renewable energy to your home and vehicle, you can simultaneously keep energy costs down while also decreasing carbon emissions. Homeowners with solar can expect to see a decrease in their monthly energy bill along with a decrease in reliance on the grid, resulting in less air and water pollution.

Like the EV chargers, tax credits can also be applied to solar installations. For 2022, you may qualify for a 26% federal tax credit and up to $5,000 in New York State tax credits. These savings opportunities are expected to decrease in 2023 so don’t wait!

Contact us for a quote today.

The future of electric vehicles is here and it’s more accessible than it’s ever been. If you have questions about available home EV chargers, chargers for your business, or combining your charger with solar energy, contact SUNation today at 631-750-9454.


The Sunation Blog

Why NOW is the Best Time to Buy an Electric Vehicle

As recently as a decade ago, electric vehicles were barely considered a viable option for drivers, but times have most …

READ MORE

Does Solar Increase My Home’s Value?

Whether you’re planning to stay in your home long-term or are thinking of moving in the future, adding solar panels …

READ MORE

5 Reasons We Love Working in Solar

If you’re interested in a rewarding and sustainable career, let us shine a light on the benefits of a career …

READ MORE