Wednesday, August 27, 2008

Is converting to an Electric Car Cost Effective?

So, during EV (Electric Vehicle)my research, one question was bugging me; Can I really save any money?

At first glance - the outlay of cash upfront is intimidating. Looking at laying out

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about $12,000 -figure $10,500 for a kit delivered & $1500 for a donor - (this can be done much more cheaply,but as a beginner, I think I would start with a kit) to convert, for example, an old VW rabbit to run on electricity seems like an AWFUL lot of dough - especially because for that price, you can get a relatively new used car that will get 30 mpg.

So I did some math. (not my forte, corrections gladly accepted)



"Someone please tell me
that I am wrong!"

Lets say you get 30 mpg in your current vehicle. If you drive 10 miles to work each way, and gas costs $3.65 and you work 261 days a year (365-104 days for weekends)you spend... (20 miles X 261 days)/30mpg X $3.65 per gallon - your commute fuel cost is $635.10 per year. Figure $140 for quarterly oil changes and now you are talking $775.10/year. Assuming the batteries for your EV will last 3 years - your total fuel cost for this period is $2325.30.

So, if your commute is 10 miles each way, there is no savings. So much for sticking it to the man.

Where is the break even? You would need a commute of about 50 miles each way, by my math (requiring a place to recharge at work).

Now lets say you push your EV to the max - lets call that 60 miles per day, every day for a year. That's $8413.50 for gas & oil changes for 3 years. Still not enough.

Keep in mind, that this does not include weekend use, dropping the kids off at soccer practice and other short trips that may or may not impact your usage, therfore impacting the value to you. Conversion can also be completed for a lot less money if you are a knowledgeble mechanic or electrician, it just so happens that I am not - so my numbers to convert may be very high in comparison.

Someone please tell me that my math is wrong, hopefully completely wrong - so I can convince my wife that this is a worthwhile project!

Until then, I guess I'll work on an electric bike (that she already let me know I won't be able to ride on the street)

10 comments:

Bill said...

What about the value one puts on a zero emissions vehicle? I suppose there are 2 factors at work there: 1) actual harm and subsequent cost to the environment of a gasoline car, 2) how it makes you feel knowing you're decreasing your own carbon footprint driving an electric car. I imagine there's a way to measure and put actual data on number 1. But number 2 is a "touchy feel-good, inner peace" vibe without data to quantify it.

Then there's the fact that early adopters always pay a higher price. But when early adopters accept the monetary setback it paves the way for the technology to grow, get cheaper, and delivered to the masses. The value to that really depends on the technology involved. You have to ask yourself, "Is this something I'm willing to invest a little more money into in the hopes that it will become more widespread and thus, benefit me more down the road?"

Anonymous said...

I think converting your car is the right thing to do, with the current gas price plus the air pollution problem that we are facing today. There might come a day that we all will be forced to buy one in future, I am sure, unless the scientist come up with a way to stop air pollution and miraculously the gas prices go down. (Which is highly unlikely in both cases) Well, there are Electric Car Conversion Kits that comes affordable considering it is one time payment. I think it is worthwhile and that you should give it a shot.

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mycontractor said...

I feel like the electric car movement is overlooking one very important factor: Where are we going to get all this extra electricity needed to charge electric cars? America's electrical grids are already stressed and to date we have not developed clean, affordable electrical power plants on a large scale. If we use coal fired power plants to charge our electric cars; what have we achieved?
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Judz said...

I just convert my old car last year, Until now, I save money more than $1000 . I pay $300 for investment. You can convert it also. Very Simple like eating banana.

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J.D. Kennedy said...

If you're lucky enough to have a car that gets 30 MPG in rush-hour traffic (don't go by the mfg specs) and only commute 10 miles to work, then you're not feeling the kind of heat that others do when gas prices spike. At that point if all you care about is saving money, you can pat yourself on the back and proclaim "Miller time."
But if you're like most people who drive their cars an average of 12-15K miles a year and only get 20 MPG at best, the cost factor makes sense. Not to mention, no tailpipe emissions. Get a good battery pack and take care of it and it should last you 5 years.

JDK
CleanEnergySolutionZ.com

Unknown said...
This comment has been removed by the author.
Samuel said...

If you are using your car at average of 10-15miles per day, then it will not benefit you much in your annual fuel budget, but still it will save emissions to some extent.
If you are traveling more often then you can prefer hybrid vehicles.
If you go with hybrid vehicle then make sure that to produce some solar power to charge the vehicle which is far better way then depending upon the grid, this way you can save more money.

Joshua's Law

garry said...

Thanks for posting your insights and experiences.
Anybody looking for Gem Electric Vehicle