Though it’s not always inexpensive, charging an EV will probably be less expensive than buying petrol.
You’ve probably heard that, while EVs are pricey, they will save you money in the long run due to cheaper gasoline and maintenance costs. That’s debatably accurate in the majority of situations, but there are lots other factors. Ben Sullins, a youtuber, breaks down the cost of charging the Ford F-150 Lightning E-pickup truck.
The F-150 Lightning, a Ford pickup truck is one of the largest and heaviest EVs currently on the US market. It is also not particularly efficient due to its bulk, boxiness, and requirement to transport a sizable, heavy battery pack. Owners will probably discover that charging the electric truck is significantly less expensive than filling up a conventional F-150 gas guzzler.
If Sullins is unfamiliar to you, he is a strong proponent of EVs and sustainable green energy sources. He has a Rivian R1T E-pickup truck and has owned several Tesla models, but it appears he would rather have an F-150 Lightning. He, in contrast, also operates a gas-powered F-150.
According on what customers have stated, Sullins estimates that the F-150 Lightning has an average range of roughly 2.1 miles per kWh. The computed average cost per kWh was 22 cents, and the average number of kilometres travelled was 1,400. For the full month, this equates to 666 kWh of power used, with the 1,400 miles of travel costing $147.
About 20 mpg is the fuel economy of an equivalent gas-powered F-150 pickup truck. For Sullins, filling up the vehicle would cost around $342 per month at the current petrol price of $4.88 per gallon.
Sullins claims that charging the F-150 Lightning as opposed to filling up a standard F-150 could save you roughly $12,000 over the course of five years. Since his electricity is $0.15 instead of $0.22 per kWh, he would save a lot more money by doing this.
Keep in mind that gas and electricity prices vary widely and are always changing. The cost savings in an EV over an equal petrol vehicle can be significant for persons who obtain a decent power rate and conduct the majority of their EV charging while at home (where it’s normally lowest) overnight (when it’s generally cheapest).
For those who reside in regions where gas is less expensive, let’s say $3.50 per gallon, it would nevertheless cost about $250 per month to refuel the gas-powered F-150, that is about $100 more expensive compared to charging the F-150 Lightning at the price of 22 cents per kWh, which is actually high in comparison to the cost of electricity in some regions. Whilst charging at home overnight, we are charged 11 cents per kWh.
Your savings will be significantly less if you reside in a region with generally low petrol prices and charge your EV mostly at public DC fast charging stations. Since most individuals don’t really need fast charging, particularly on road trips, it isn’t inexpensive to use at a public station. In some places and at particular times of the day, it may even be more expensive than usual.
To learn more about Sullins’ insightful advice, watch the little video.
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