Like any vehicle purchase, an EV represents a significant financial investment. Even with so many advantages – including lower maintenance and operating costs, fuel savings, financial incentives, reduced pollution, additional convenience and unique features – an EV is not right for everyone.
Questions to ask yourself as you consider an EV purchase or lease, courtesy of Consumer Reports and CORE:
How many miles do I drive each day? And how often do I take long road trips?
Most late-model, all-electric EVs have ranges between 300 and 500 miles on a full charge – more than enough for a week’s commute for an average driver, and typically enough for a full day of driving. Even a multi-day road trip is possible with minimal planning.
Do I have regular access to charging at home and/or work?
Most EV drivers need a charger at either their home or workplace. Employers continue to install onsite chargers as EV ownership grows among employees. If you don’t have access to a charger at your workplace, consider installing one at your home through COREV, our upcoming residential charger program.
How much will it cost to charge my electrical vehicle?
This varies by where and when you charge your EV. A home charger typically is the cheapest option. An average residential CORE member pays less than $0.12 per kWh to charge during the off-peak hours after 8 p.m. and before 4 p.m. Most public chargers, on the other hand, cost between $0.30 and $0.50 per kWh. At any of CORE’s public chargers, members enrolled in our discount driver group pay just $0.15 per kWh; the general public pays $0.40 per kWh.
Do I need a faster charging option, or can I charge overnight at home?
This depends on your vehicle, lifestyle and personal preferences. Most EV drivers find it convenient to “set it and forget it” when they arrive home, and set their vehicle to charge overnight. If you don’t have a home charger – and assuming you drive a battery-only electric vehicle – you can expect to wait up to an hour to fully charge at a public Level 3 station, and between four and 10 hours at a Level 2 station.
Are there public charging stations in my immediate area and/or travel corridors?
Colorado currently has more than 1,800 publicly accessible electric charging stations – most of which are along the Front Range – and the Colorado Energy Office has partnered with local governments, utilities and private companies to further expand the state’s EV charging infrastructure and allow Coloradans to drive anywhere in the state in an EV.
As your trusted energy adviser, CORE is here to help as you consider the purchase or lease of an electric vehicle. Visit our online electric vehicle hub to access additional EV resources.