Top 5 Reasons Drivers Are Choosing EVs

Top Five Reasons That Drivers Are Contemplating the Switch to an EV

1. EV Charging Costs Less Than Filling Up Gas-Powered Vehicles

Reduced charging costs was selected by 33% of respondents, making it the highest-ranking reason for owning or leasing an EV. Gasoline and diesel prices are vulnerable to significant price fluctuations, whereas EV drivers pay $1.22 on average for the equivalent of one gallon of gasoline^[2].

Using NYSERDA’s Electric Vehicle Calculator to estimate the annual costs for driving a 2023 Chevrolet Bolt EV 2LT, the projected fuel/energy savings would be $611 for the first year of EV use.

This estimate assumes a gasoline price of $3.50/gallon and that an EV driver charges 90% of the time at home and drives 12,000 miles annually, which is slightly above the statewide average of 11,817 miles. EV drivers who can charge more frequently at home during off-peak hours can expect greater savings.

2. Lower Overall Costs Over the Lifetime of the Vehicle

Around 31% of respondents cited lower lifetime ownership costs for EVs as a leading reason for forgoing a gasoline-powered vehicle. The lifetime costs of an EV include the cost of the purchase or lease (minus rebates and tax credits), energy/fuel costs, and maintenance costs.

Although EVs are generally cheaper to power than vehicles that run on fossil fuels (e.g., gasoline or diesel), they have a higher sticker price. However, the Inflation Reduction Act provides tax credits up to $4,000 for used EVs and $7,500 for new EVs, helping close the price gap between electric and conventional models. In New York, many new EV models are also eligible for Drive Clean Rebates of up to $2,000, meaning a combined cost reduction of up to $9,500 on certain new EVs.

Battery-electric vehicles require less maintenance than vehicles with internal combustion engines, providing cost savings for EV drivers. We’ll expand on this below.

3. Lower Maintenance Costs Than Gas-Powered Vehicles

Cost savings comprise the top three reasons for driving an EV, with 28% of respondents selecting lower maintenance costs as their motivation for making the switch.

With a battery-electric vehicle, the motor has fewer moving parts and there’s no need to change the oil, resulting in less frequent and cheaper maintenance. EV brakes experience less wear due to regenerative braking, too. On average, EV drivers spend about 50% less on repairs and maintenance^[3].

4. Avoid Using Gasoline

Sustainability ranks among the top reasons for driving an EV. Around 27% of respondents selected avoiding the use of gasoline or other fossil fuels as a key reason for going electric.

When gasoline or other fossil fuels are burned to power vehicles, they release carbon dioxide, a potent greenhouse gas that contributes to climate change. In New York State, greenhouse gas emissions from the transportation sector account for approximately one-third of statewide emissions.

Driving an EV significantly reduces your transportation carbon footprint, generally 50-70% on average if switching from a gas-powered vehicle^[4]. Drivers can further curb their emissions by charging their EVs with electricity generated by renewable sources.

5. No Tailpipe Emissions or Exhaust Fumes

Eliminating tailpipe emissions from their personal vehicle was selected by 23% of respondents.

Tailpipe emissions contribute to local air pollution and global climate change alike. Using the example of the 2023 Chevrolet Bolt outlined above, drivers would save 5,612 lbs. of CO2 emissions a year (driving 12,000 miles) with this EV model in place of a gas-powered vehicle.