Cost &
Savings
“It’s a way to protect the environment and it’s cost effective. It’s the right choice to make.”
Electric Vehicle Cost and Savings
Just like with gas-powered vehicles, there are a few things to consider when shopping for an EV. We’ve gathered some information and tools to help you understand the costs involved, so you’re prepared to make a decision that fits your needs. With lower operating costs, state and federal rebates, and options like used or leased EVs, the overall lifetime costs of EVs can be surprisingly competitive. Plus, EVs have simpler parts, meaning lower maintenance costs compared to traditional cars – no more tune-ups, oil changes, or spark plug replacements.
The Cost of Owning an Electric Car
Learn more about the cost of owning an EV by exploring these resources:
Little to No Maintenance Costs
EV maintenance costs are lower than that of traditional vehicles because they have much simpler parts. You won’t have to pay for tune-ups, oil changes, spark plugs, drive belts, cooling system flushes, and beyond. There’s no fuel pump, no radiator, no engine gaskets that can leak. The most you’ll have to do is go in for brake checks every couple of years and keep your tires full. Check out more detailed information in this EV Maintenance Guide.
Lower Cost in of EV Lifetimes
Compare the general costs and prices of electric vehicle models and use the vehicle cost calculator to determine what numbers you’re looking at. There may be higher upfronts, but with lower maintenance costs, state and federal rebates, and used or lease options, EVs are more than worth it.
Fueling Costs & Charging on the Go
Ways to Save When Purchasing an Electric Car
Federal Tax Credit for Evs
Federal EV rebates typically come in the form of a tax credit that’s available with the purchase of a qualified plug-in EV or fuel cell electric vehicle (FCV). The minimum credit amount is $2,500 and can go all the way up to $7,500 based on the car’s traction battery capacity and the gross weight rating.
Specific requirements apply such as:
- The credit applies to vehicles purchased after December 21, 2009.
- Vehicle battery must have at least 7 kilowatt-hours (kWh) of capacity
- Vehicle must be a plug-in
- Vehicle must have a gross weight rating of up to 14,000 pounds and meet specified emission standards
For more information go to New Clean Vehicle Credits or use this Federal Clean Vehicle Tax Credit Checklist.
Additional Ways to Save:
Oregon offers great incentives that help make switching to electric cars easier. While they can be pricier upfront, various options can help offset the cost. Choosing a used or leased electric car can make the overall expense comparable to traditional gas-powered vehicles.
Oregon’s rebate programs, like the Oregon Clean Vehicle Rebate Program, offer cash incentives for EV purchases. Plus, federal tax credits add even more savings for EV buyers in the state.
Check out these resources to make sure you’re not leaving money on the table:
See What You Can Save with Oregon Rebates
Utility |
Charger Rebates |
Vehicle Rebates |
|---|---|---|
| Central Electric Co-op | $150 - $450 rebate for purchasing and installing a Level 2 EV charger | $50 per electric vehicle |
| Central Lincoln Pud | $250 rebate for purchasing and installing a Level 2 EV charger | -- |
| City of Ashland | -- | $1,500 rebate for registering a qualified new or used electric vehicle |
| Columbia River Pud | $250 rebate for purchasing and installing a Level 2 EV charger | -- |
| Consumers Power, Inc | $50 rebate for purchasing and installing a Level 2 EV charger | -- |
| Emerald Pud | -- | $100 reward for registering an electric vehicle |
| Eugene Water & Electric Board | $500 rebate for purchasing and installing a Level 2 EV charger | -- |
| Midstate Electric Cooperative | -- | $100 incentive for submitting a survey as an electric vehicle owner |
| Northern Wasco Country Pud | $250 rebate for purchasing and installing a Level 2 EV charger | -- |
| Portland General Electric | $500 rebate for purchasing and installing a Level 2 EV charger | -- |
| Springfield Utility Board | $500 rebate for purchasing and installing a Level 2 EV charger | -- |
| Tillamook Pud | $250 rebate for purchasing and installing a Level 2 EV charger | -- |
$150 - $450 rebate for purchasing and installing a Level 2 EV charger
$50 per electric vehicle
--
$100 incentive for submitting a survey as an electric vehicle owner
RESOURCES
