Most people assume that driving a PEV is too expensive for the average Californian, but when you factor in fuel savings, lower maintenance costs, incentives and all the other perks and benefits you get from driving a PEV, these cars really make sense - not just for the environment but for your pocketbook.
- What incentives are available to reduce the up-front cost of the vehicle?
- How much will I save each month on fueling with electricity?
- How much will it cost to buy and install charging equipment and are there any incentives to help with this?
- Will I get any other benefits like free parking or HOV lane access that will save me more money or time each month?
Electric vehicles are a good deal for California consumers and the environment - a fact outlined in Environment California's 2016 report: Drive Clean and Save. How much a PEV costs is not as simple as looking at the Manufacturers Suggested Retail Price. The true cost of owning a PEV must consider Federal, State and Local incentives that may bring down the upfront cost, and also how you can save on fuel, parking, maintenance and other monthly expenses. The PEV Resource Center provides you with the information and resources you need to find out how much a PEV will cost you.
Programs for Disadvantaged Communities & Low Income Drivers
We know that "low-income communities and communities of color disproportionately feel the impacts of vehicle pollution and can benefit the most from the clean air and cost-saving benefits of EVs" as the Greenlining Institute addresses in their EVs for all Equity Toolkit. For this reason, California has spearheaded a variety of initiatives over the past few years to dramatically increase the number of zero emission vehicles (ZEVs) on our roads, and particularly aimed to support lower-income households in communities most impacted by air pollution. SB 1275 (2014) modified and created programs to extend benefits of electric transportation for disadvantaged and low- and moderate-income communities, and established the Charge Ahead Campaign. Programs and incentives that assist these audiences can be found in our incentives search.
Buying and Installing Charging Equipment
The cost of buying and installing charging equipment will vary depending on what type of charger you want to buy, where you live, and the configuration of your home. We will provide you with some guidelines and resources for learning more about this process and the costs involved.
Driving on electricity can be cheaper than driving on gasoline. Check out our resources and information to help you understand how much it will cost you to charge your car and questions to ask to get the best rates for your electricity.
Calculate your Costs
There are many factors to consider when calculating your costs to own and drive a PEV. We've pulled together some great tools and calculators to help you determine your costs.