Better for Your Wallet Interested in saving money at the pump? Get rid of the pump!
By charging your EV at home instead of filling up on gasoline, you could save $800 to $1,000 annually. And for those who charge up away from home, the financial savings are typically less, but some vehicle and charging companies offer attractive discounts or even opportunities for free charging. Additionally, battery EVs are about 40% less costly to maintain, with less money needed to replace parts and for tune-ups.
These benefits make EVs a great long-term investment, saving you thousands of dollars over the years.
And that’s not all: Thanks to President Biden’s Investing in America agenda, you may be eligible for a $7,500 tax credit on the purchase of a qualified NEW clean vehicle, or up to a $4,000 tax credit on the purchase of a qualified USED clean vehicle. As mentioned above, credits also exist for purchases or upgrades for your home charger/outlet to facilitate faster charging.
Our Investment in America On top of making EVs more affordable for drivers, the Department of Energy and the Department of Transportation are working together to making EV ownership more practical and more accessible by building a nationwide EV charging network across all 50 states, the District of Columbia, and Puerto Rico. This venture is prioritizing rural and urban communities that have been previously underserved by EV charging infrastructure. Learn more about the Joint Office of Energy and Transportation and see how this collaboration is working to make clean vehicles an accessible option for all Americans. n
27
November 2023 | The Business Review
Made with FlippingBook - professional solution for displaying marketing and sales documents online