Electric Cars Cost Less!
Cost Less to Drive
- Electricity is much cheaper than gasoline or diesel. The electricity cost for a typical electric car driven 1000 miles per month is roughly $30 per month if the car is charged at night on the EV rate.
Special electricity rates for households with EVs are also available. These non-tiered rates apply to the entire electric bill and can result in a significant savings for EV drivers. These EV rates are time of use rates with the cost per kilowatt hour varrying based on when the electricity is being used. For example, it costs much less to charge your car between 11:00 PM and 7:AM. Sign up for this lower cost EV rate at: https://www.pge.com/en_US/residential/rate-plans/rate-plan-options/electric-vehicle-base-plan/electric-vehicle-base-plan.page
Cost Less to Maintain
- Much less maintenance than internal combustion engine vehicles. No oil changes, oil filters, and much less brake maintenance.
- No smog checks ever needed.
Cost Less to Buy or Lease
$2500.00 or more - The State of California offers rebates for the lease or purchase of a new electric car. There are also rebates for electric motorcycles and scooters. These rebates are not related to your taxes. The current rebate amount is $2500 and may be up to $4500 for lower income drivers. Go to the Clean Vehicle Project website for details.
$500.00 - A Clean Fuel Rebate funded by the State of California Low Carbon Fuel Standard Program is also available for PG&E customers who drive electric vehicles. The current amount is $500. Go to Clean Fuel Rebate for details and to apply.
$7500.00 - Federal Tax Credits of up to $7500 for purchasing plug-in vehicles are available and credits for installing wiring for charging vehicles may be available . Consult your CPA for details on how these credits will apply to your situation.
These rebates and tax credits can dramatically reduce the cost of leasing or purchasing an EV.