If you’ve been considering getting a hybrid or electric car, you’re not alone. In 2015, hybrids made up just 2.2 percent of overall new car sales, while sales of electric vehicles (EV), powered by batteries stalled at one percent. One of the big reasons for this is that hybrids can cost close to 20 percent more than traditional gas-fueled vehicles. EVs, on the other hand, can go up to 70 percent more than a regular car before incentives. Yet, if you’ve still got your heart set on the greener choice, here are some key things to consider.
The Cost of Running It
Hybrids can seem like a costly bet when the price of gas is low. But, if you follow the path of the average American and keep your car for about 11 years or so, you’ll have had your car long enough to see several shifts in the price of gas and making it worthwhile in the long run.
If you drive enough, the fuel savings of a hybrid may even cover the extra cost of the car. The math is even more attractive in the case of EVs.
Think About Batteries
One of the biggest things that drive up the price of EVs is the expensive batteries they require for the course of their lives. Industry experts say lithium-ion batteries make up a whopping one-third of the cost of the vehicle. This is because batteries are pricey to replace and can set you back close to $29,000. But, with more companies investing in research and battery engineering, EVs of the future might become cheaper than traditional cars sooner than you think.
The Environmental Impact
Experts say a number of popular hybrid and EV models produce about the same amount of greenhouse gas pollution, 200 grams per mile as regular cars. In parts of the country where coal-fired power plants create electricity, driving an EV could actually be the less green option than a gas-powered vehicle. However, if you’re living in parts of the country that have embraced renewable sources of energy, your eco-impact can be as low as 100 grams per mile.