Electric vehicle refueling one-tenth the cost of filling up the tank, study shows

You already knew electric cars were gorgeous and incredibly innovative. But now there’s proof of how good they are for your pocketbook:

Under current utility electric vehicle (EV) tariffs, it is always cheaper to recharge an EV than to fuel a conventional gas-powered vehicle, according to a new study released today by Northeast Group, LLC. The study benchmarked and analyzed the first wave of EV-specific tariffs launched by electric utilities across the United States.

“In all scenarios we studied, the costs to recharge an electric vehicle were cheaper than fueling a gasoline-powered car. In the most likely EV charging scenarios, costs were approximately one-tenth to half the costs of fueling a conventional vehicle with gasoline,” according to Northeast Group, LLC. The cost analysis looked specifically at “fueling” expenses, and did not consider other operating costs of vehicles.

The study, titled “United States Smart Grid: Utility Electric Vehicle Tariffs,” can be purchased from Northeast Group.

prnewswire.com