environmental impact: a grid-powered car

Are Electric Vehicles Better for the Environment?

It’s true that a grid-powered car, more commonly known as an electric vehicle (EV), runs entirely on electricity; however, it still has an impact on the environment. This is especially true if the energy used from the grid to charge the EV is created using fossil fuels like coal and natural gas, as opposed to non-polluting renewable sources such as solar and wind. Nonetheless, data shows that an EV produces significantly lower tailpipe emissions compared to gasoline- or diesel-powered vehicles. Tailpipe emissions affect the quality of local air and contribute to global warming.

Main Differences between a Gas Car and an Electric Car

You might think that the electric car is a modern invention, but the first small-scale EV (which looked like a chariot) was created in 1828 with a top speed of 14 miles per hour. It’s remarkable how the electric car has evolved since then. Today, EVs have become more common, and they come in all shapes, sizes, and prices.

In fact, as of 2020, there were more than 1.4 million plug-in electric vehicles on U.S. roads, with Tesla, General Motors, Nissan, and Audi being the most popular brands. The Edison Electric Institute (EEI) projects we’ll see more than 18 million EVs on U.S. roads by 2030.

Curious about leasing or buying an electric car to reduce your greenhouse gas emissions (GHG) or save money on fuel? The comparison chart below could help you discover if adding an EV to your garage is the right choice for your lifestyle.

An EV Is a Win for Your Wallet and the Planet

When you lease or own an electric car, you benefit your finances and the environment. As electric vehicles become more popular, the price gap when compared to gas-powered vehicles has narrowed. Electric car battery prices have plummeted as well while offering longer mile ranges and faster charging capabilities. There are now 26,000 charging stations across the U.S., and with this number growing each year, you can worry less about where to charge your EV if you’re on the road.

If you prefer to own your electric car, you’ll be happy to know that purchased all-electric and plug-in hybrid electric vehicles may qualify for a federal income tax credit of up to $7,500 along with other state and local incentives. This means an EV with the average price tag of $55,600 could end up costing you $48,100 or less after federal, state, and local tax credits.

Regardless of what you decide, research shows that electric vehicles are better for the environment than gas-powered cars. EVs produce very little CO₂ emissions. This makes the air we breathe cleaner and safer while helping you save money and our beautiful planet.