The not-so-great factors
If you’re going on a road trip like Granholm’s, you won’t be able to get through it on a one-time charge. EVs only last about 110 to 300 miles on a single charge, according to the Department of Energy.
And even though Granholm’s team had planned ahead, there’s no guarantee even if you have chargers mapped out along your route that you’ll get access to one — whether because they’re full or out of service. Unless you only drive small distances and can charge at home, EVs may prohibit your range.
Another issue is that the fastest EV charger on the market takes 20 minutes — and not all EVs are built to handle that speed, according to the Department of Transportation. Furthermore, not all charging stations offer the fast-charging option, which is why Granholm’s team was so protective of that particular charging spot.
While it may seem like every corner in America has a gas station, in comparison, EV chargers are a hot commodity. There are only 130,000 public chargers in the U.S., according to a recent Biden-Harris administration estimate.
While the Biden-Harris administration plans to increase the amount of chargers to 500,000 by 2030, drivers now are still risking running low on the road or having to resort to calling the cops to get someone to hand over the one, precious EV charger nearby.
… and the good
Despite the drawbacks of EVs, the cars can be a good investment.
Consumer Reports discovered that EV owners can save up to $1,000 on gas per year. This isn’t always the case, but with gas prices having increased by 10.6% in August’s Consumer Price Index, it may be nice to be free of the fuel fluctuations.
And keep in mind that the government is handing out incentives to buy EVs. With certain qualifications, you can receive a tax credit up to $7,500 after you purchase a brand new EV.
There’s also the argument that EVs may serve to help uplift the economy. The Biden-Harris administration announced this past February that all EV chargers must be built in the U.S. Because of mandates like these, the Inflation Reduction Act is expected to add 1.5 million jobs to the economy, according to a Labor Energy Partnership analysis. More jobs means more spending and a stronger economy — for everyone.
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