Moaz Uddin Answers WCCO’s Good Question: “Does Getting an Electric Vehicle Make Financial Sense?”

July 13, 2022 | | Education

This post originally appeared on the Great Plains Institute’s website, the facilitator of Drive Electric Minnesota.

GPI Electric Vehicle Policy Specialist Moaz Uddin recently answered WCCO 4 News’s question, “Does getting an electric vehicle make financial sense?” Part of the CBS station’s “Good Question” series, the show helped answer this common question for people looking at electric vehicles in the face of high gas prices. Uddin breaks down the numbers for how electric vehicles can save consumers money over time.

A few key takeaways from Uddin’s conversation with WCCO’s Heather Brown:

  • Over time, owning an electric vehicle is cheaper than an internal combustion vehicle.
  • The savings from switching to an electric vehicle depend on your current vehicle, which vehicle you’re switching to, and your driving habits.
  • Electric vehicles have higher upfront costs on average, lower maintenance costs, and lower fuel costs than internal combustion vehicles.

Uddin walks through how to calculate those costs when considering the switch to an electric vehicle. He highlights three important consumer costs: upfront purchase price, maintenance, and fuel costs.

Some people will also need to include costs for installing a charger at home if they need to charge their cars quickly. For people who don’t need fast charging, an electric vehicle can plug into a regular outlet to bring it to a full charge overnight. Additionally, workplaces, local governments, and businesses are adding fast chargers so people can access charging while away from home.

Also featured is Diana McKeown, who talks about her personal experience as an electric vehicle owner (McKeown is the Metro Clean Energy Resource Team director at GPI).

Considering an electric vehicle? Watch the video with Uddin and Brown where they walk through calculating the finances of going electric.