Mid-Ohio Valley Climate Corner (Photo Illustration/MetroCreativeConnection)
I like to consider myself a conservationist, or in other words, concerned about our environment and limited resources. However, if I am honest with myself, it is not always a top priority. Cost and convenience are more often a deciding factor for me than impact on the environment. I just do not have unlimited funds or unlimited time to always make the “green” decision.
Often, though, cost and conservation due coincide. My recent car purchase is a good example.
Before making a final decision on buying a car, I debated first between gasoline and electric vehicles. Being a math teacher and former actuary, I crunched the numbers. Based on driving an average amount of 1,000 miles per month and getting 30 miles per gallon at $3.50 per gallon, a gas-powered vehicle would cost $1,680 to fuel each year. An average electric car gets 4 miles per kilowatt hour, and an average West Virginia household pays $.12 per kilowatt hour for electricity. So, based on traveling the same 1,000 miles per month, an average Wet Virginian would pay $360 to fuel a fully electric vehicle. I have kept my previous cars for about 10 years. So, looking only at fuel, I would save $1,392 per year, or $13,020 over the 10 years that I plan to own the vehicle.
Next, I looked at sticker prices. For new 2024 vehicles, the average cost of cars, after taxes and fees was around $30,000. Looking at EVs, the average new car cost was $40,000, after taxes and fees. The initial sticker price of EVs was significantly higher, but the federal government is now offering a $7,500 rebate for buying new EVs assembled in the United States (https://www.energy.gov/save/electric-vehicles). The rebate combined with the $13,000 in fuel savings make a new EV $3,000 less.
So, a new EV would be less expensive, over time, than new gas vehicles. While I could afford a payment on a $30,000 or even $40,000, this just seemed too much for me to spend. Also, if I financed the EV, the interest on the bigger loan would eat up a lot of my savings. To me, cars are a mode of transportation, not a fancy item to show off to friends. My wife and kids will be the first ones to tell you that I can be quite a miser.
So, I considered used cars. After talking a lot with others, I found a neighbor looking to sell their 2017 Chevy Bolt (fully electric) for the same cost that I was finding gas and hybrid cars of similar age. Well, what about battery life? After a little more research, I found that EVs lose just 2.3% of their battery life each year (https://www.evconnect.com/). This would give me the 10 years of life that I was looking for. As a bonus, Chevrolet recalled the batteries on the 2017 vehicle. So, the one I purchased had a brand new battery installed in 2022. Even if I had not had the good fortune of getting a new battery, the low battery loss each year still makes used EVs an affordable and practical option. The federal government also provides tax rebates on used cars like this one, as well (see energy.gov for details).
If the battery has no issues, the cost of maintenance on an EV will be less. Like my battery powered mower (that I love and have had for 5 years), I never have to change the oil, replace a spark plug, or flush coolant. There is not even a transmission to have issues.
OK, so “the man” will get me on car insurance rates, right? Surprisingly, when I shopped for my car insurance, I found the same coverage that my wife has on her Subaru Forester for less cost (Chevy Bolt cost: $375 per year, Forester cost: $500 per year). The stories that I have heard about EV batteries “blowing up” are mostly just rumors and not affecting insurance costs.
Along with cost, convenience is important to me. Will buying an electric car keep me from driving long trips? My children each live about 120 miles away, well within the 300-mile radius of most EVs. So, I can visit either of my kids in an EV without having to charge until I get back home. My wife and I go on one to two big trips a year. While newer EVs can “super-charge” in less than an hour, my wife and I plan to still use her gas-powered Subaru Forester for these long trips. Having one gas vehicle gives us a lot of flexibility. I am helping the environment with an EV, and not sacrificing convenience much, by having a gas vehicle in our household.
In the end, looking at cost, convenience, and conserving natural resources like fossil fuels, buying an EV was the right decision for me. I hope that this helps you in making balanced decisions that protect our limited resources and your pocketbook.
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Dean Banziger, M.S. is a mathematics teacher at Williamstown High School.
