- In a 2018 study, Crescent Electric Supply Company (CESCO) looked at which US cities would allow drivers to save the most money if they switch over to an electric car.
- The study analysed average commute length as well as gas prices and electricity rates in each major city in America.
- The study found that Seattle offers the highest annual savings for an electric vehicle commute, at $US212.87 annually. New York saved commuters the least at just $US55.
Electric cars are going to be a major part of our automotive future.
However, the financial benefit of driving an electric car can is different based on where you live. This is mainly due to varying commute times among cities, as well as differences in the cost of gasoline and the cost of electricity, which is different for every city.
In 2018, Crescent Electric Supply Company (CESCO) published a study to find out which American cities offered the most financial savings for commuters who went electric. The study analysed average commute length as well as gas prices and electricity rates in each major city in America. From there, CESCO used this data to calculate annual commute costs for electric and gas vehicles with an EV that used 34 kWh of electricity per 100 miles and a traditional gas-powered car that obtained 30 mpg of fuel economy.
According to the study, commuters in New York would save $US55 a year by switching to an electric car. That pales in comparison to the whopping $US212.87 folks in Seattle, Washington would save.
Much of this difference can be attributed to the price of electricity. Seattle has the cheapest electricity rates, at only $US0.08 cents per kilowatt-hour, while New York has the highest prices, at a cost of $US0.23 cents per kWh.
“Overall, drivers in every city would save money on their commute if they switched to an electric vehicle, but it was surprising to see how much different cities could save or how little they would spend,” said Alex Lucas, a researcher who works for Crescent Electric, in a statement.
However, it should be noted that charging infrastructure around the nation is still lacking and the cost of long-range electric cars remain unaffordable to a large number of consumers.
Here’s a closer look at the 10 cities where switching to an electric car will save you the least money.