The long-term benefits of EV ownership

With around 20% of new cars in the ACT being electric vehicles, Canberrans are making the smart switch to lower local emissions. EV ownership has many benefits, however over time, it accumulates to create meaningful differences to your pocket and the environment.

Let’s delve into the enduring benefits of driving an EV and learn why it’s not just a trend yet a sustainable choice for the future.

The financial benefits of EV ownership

While it’s true that EVs may have a higher upfront cost, this is offset over time. Charging an EV is cheaper than filling up a petrol tank, and as EVs also have fewer moving parts, they require less maintenance.

How does that translate to what you’ll save?

Research by Evenergi found that over five years, there is a $5,000 gap in total ownership costs between EVs and ICE cars. Furthermore, data from a recent Drive survey revealed that driving an electric vehicle can save you between $1320 and $3070 every year on average compared to petrol, diesel and hybrid-powered cars.

Those figures don’t include the ACT Government EV incentives available. From stamp duty exemption and registration fee discounts to interest-free loans up to $15,000, generous financial benefits are available to aspiring EV owners.

The environmental benefits of EV ownership

Electric vehicle ownership offers a host of long-term environmental benefits that extend far beyond personal convenience. EVs produce no tailpipe emissions, reducing greenhouse gas emissions and improving air quality. According to a major MDPI sustainability study, electric vehicles in Australia emit, on average, 29-41% fewer emissions than a typical fossil-fuelled car for every kilometre driven.

Over the years, this reduction in carbon emissions significantly contributes to mitigating climate change. When EVs are charged with electricity powered by renewables such as solar or wind, their carbon footprint will be even less.

The social benefits of EV ownership

According to IQAir, exposure to air pollution is estimated to result in 4,880 premature deaths in Australia every year. Due to their emission-free nature, EVs can help curb the negative health effects associated with air pollution. One American study by the Keck School of Medicine of USC showed that at a postcode level, for every additional 20 ZEVs per 1,000 people, there was a 3.2% drop in the rate of asthma-related emergency visits and a reduction in NO2 levels.

It’s not just air pollution that EVs lower. Electric vehicles are quieter than their ICE counterparts, so this reduction in noise pollution can lead to quieter streets, peaceful neighbourhoods and a more harmonious urban environment.

What’s more, thanks to their cutting-edge technology, EVs can smooth traffic flow and halt exasperated honking. Features like regenerative braking and intelligent traffic management systems help reduce congestion and improve overall mobility.

When it comes to uplifting local businesses and communities, EV charging stations can boost economic activity. When local restaurants, hotels and shops install public EV charging points, they invite users to spend more time at their businesses and in the area when charging.

Summary

EVs are cheaper to run as they have a better fuel economy and fewer moving parts, so they require less maintenance.

Research shows EV owners could potentially save between $1320 and $3070 every year on average compared to petrol, diesel and hybrid-powered cars.

Electric vehicles in Australia emit, on average, 29-41% fewer emissions than a typical fossil-fuelled car for every kilometre driven.

EVs lower air and noise pollution which has positive health and neighbourhood benefits, and their public charging stations can help boost local businesses.

Are you considering making the switch to an electric vehicle? ActewAGL can help you effortlessly find, finance and charge your EV. Discover how ActewAGL can support your transition to sustainable driving today. Find out more here.