Electric vehicles can be more expensive to fuel than their internal combustion engine counterparts.
Fueling comparisons between EVs and ICE vehicles must account for all costs. The cost of fueling EVs and ICE vehicles include the cost of fuel (or electricity), as well as the cost of pump or charger, and road taxes levied on drivers. Most of these are bundled into the retail price of gasoline for ICE vehicles. The comparable cost of fueling an EV include the following five categories:
1. Commercial and residential electric power costs: Commercial chargers often impose per kWh fees that are double or triple
that of residential electric power costs.2. EV registration taxes: In many states, EV drivers need to pay additional auto registration taxes for the construction and maintenance of roads.
3. Cost of chargers and their installation: EV buyers typically receive a Level 1 (L1) charger along with their auto purchase. These typically use a standard home electrical outlet and pro- vide only a trickle charge for an EV. Sellers of EVs typically encourage the purchase of an optional Level 2 (L2) charger. Many owners that rely primarily on home-charging, purchas and install an L2 charger that uses a special electrical circuit.
4. Deadhead miles: EV drivers incur costs of driving miles to a commercial charger for the sole purpose of charging. By com- parison, there are over 100,000 gas stations in the US.
5. Time costs of charging: EV drivers also spend significant time finding and driving to a commercial charger, setting up the charger, and waiting for the charging process to complete. By comparison, finding a gas station and refueling the vehicle is relatively quick.
Lots to chew on in this study but the main takeaway is that it’s hard to apply caveat emptor when authorities tip the scales with tax incentives, mandates, and phase-outs.
h/t SG