NEVP - Cost Savings
Electric cars save money since they are much more efficient than a conventional gasoline vehicle. By using local electricity and gas rates, we can find exactly how much money is being saved in this project. Electricity price is dependent on the utility serving the cities in the study. Four companies distribute power for the cities in this study, each with their own pricing, including:
- Omaha Public Power District (OPPD)
- Nebraska Public Power District (NPPD)
- Northeast Nebraska Public Power District (NeNPPD)
- Lincoln Electric System (LES)
OPPD, NPPD, and LES also have their own energy makeup. The energy distributed by NeNPPD is generated from NPPD, so the energy makeup of NeNPPD is the same.
The following table shows the costs for driving one mile for each fuel type. The cost of fuel for a BEV is based on the price per kWh for OPPD, NPPD, NeNPPD, and LES calculated by averaging the data based on the service providers. Hastings and Nebraska City are not included in this calculation as these cities generate their own power.
Click here for detailed calculations and sources
The average american drives around 12,000 miles per year. Using that value we predict that each electric car in this project would save the cities between $996 and $1,092 per year.
Electric cars can save quite a bit of money. However the amount you save depends on a variety of factors: how far you drive in a year, how aggressive your driving style is, how often you use the AC or heater, and even the terrain of the area you live in. Using data from the cars and charging stations we found exactly how much money each city is saving.
Click on one of the cities above to learn more.