A PhD student at the University of British Colombia decided to conduct a study on the price to operate an EV compared to a gas car.
The student was travelling a long way daily and wanted to know whether his trips would be cheaper if he invested in an EV.
His research revealed that the cost-effectiveness was heavily affected by location.
Let’s break it down.
DISCOVER SBX CARS: The global premium car auction platform powered by Supercar Blondie
Is owning an EV actually cheaper?
PhD student, Bassam Javed at the University of British Colombia, realized that he was spending an extortionate amount of money on travelling 100km everyday.
He thought about investing in an EV, but decided to conduct a study in his university town to see if it would be more financially efficient than his current gas guzzler.
His study was conducted in Canada and his results showed that location played a really huge part in a potential buyer’s decision.
Location, location, location
Javed’s study revealed that there was a big rural/urban divide when it came to how cost-effective EVs were.
For example, in a high population area like Quebec, an EV made the most sense having high subsidies and low electricity costs.
To break even with a gas car, EV drivers in Quebec must drive 46 km per day for seven years, in British Colombia 64 km per day, in Ontario 88 km per day, and in Northern Canada, 181 km per day.
His study highlighted that it’s massively financially inefficient to get an EV if you live in a remote or rural area, even with the cost inefficiency of owning one, there are less public places to charge an EV.
This study has left economists to suggest that EV policies should take into account how rural an area is and how easy it is to charge an EV.
Despite all his research, Javed ultimately went for a plug-in hybrid car, making the best of both worlds.
The post Canadian crunches the numbers, breaks down whether owning an EV is cheaper than a gas car appeared first on Supercar Blondie.