CL-August 2024 - 17

CLOSER LOOK
Plugging Into
Knowledge
A guide to electric vehicle
ownership
by Jennah Denney, Contributing Columnist
T
he automotive industry is
undergoing a transformative
shift as some consumers are
making the switch to electric vehicles.
At first glance, electric vehicles offer
numerous benefits, from environmental
sustainability to cost savings. However,
transitioning to an EV requires careful
consideration of multiple factors.
The following list overviews key
aspects of EV ownership and can
help you make an informed decision
based on your specific needs:
EV KNOWLEDGE: Familiarize
yourself with EV basics. Understand
the differences between battery
electric vehicles, plug-in hybrid electric
vehicles and fuel cell electric vehicles.
Consider your daily, monthly and
annual driving needs and evaluate
each option.
DRIVING RANGE: Evaluate the
EV's driving range when fully charged
to ensure it aligns with your daily
commute. We often think about a
summer road trip for our maximum
driving needs, but it's important to
remember there may be other options
for infrequent, long-distance travel.
HOME CHARGING: Determine
if you will need to install a Level 2
charger and if your home's electrical
system is compatible. By evaluating
your whole home's energy use, you
can determine if electrical panel
upgrades are necessary for a Level 2
system. Level 1 chargers typically
do not require upgrades.
PUBLIC CHARGING
OPTIONS: Research the availability
co-opliving.com
Electric vehicles may offer numerous
benefits from environmental sustainability
to cost savings, but transitioning to an
EV requires careful consideration of
multiple factors.
If you're considering an EV, explore
federal, state and local incentives.
Your electric co-op may offer incentives
or special rates for EVs.
Determine if you will need to install
a Level 2 charger and if your home's
electrical system is compatible.
of public charging stations along your
typical routes.
COST COMPARISONS: Compare
EV prices from multiple dealerships.
Sticker prices are higher upfront, but
EVs may be more cost-effective in the
long run due to reduced maintenance
and fuel costs. Then again, they may not.
Do your research.
FINANCIAL INCENTIVES:
Explore federal, state and local incentives
available for EV purchases. Check with
your electric co-op to see if they offer
incentives or special rates for EVs.
BATTERY WARRANTY:
Ensure the EV battery includes a
substantial warranty. Most manufacturers
offer eight-year warranties (or up to
100,000 miles).
Jennah Denney writes on consumer and
cooperative affairs for the National Rural
Electric Cooperative Association.
August 2024 * Cooperative Living * 15
Research the availability of public
charging stations along your typical
routes.
INSURANCE IMPLICATIONS:
Consult with your insurance provider
to review potential changes to your
policy when owning an EV.
FEES: Some plug-in electric
vehicles are subject to additional
fees to compensate for road tax
revenue that is typically collected
from gasoline taxes. Additionally,
you may have to pay a higher vehicle
registration fee for EVs and hybrid
vehicles. It's important to be
aware of these potential fees when
considering the total cost of ownership
for an EV.
*
PHOTO COURTESY FORD
PHOTO COURTESY HONDA
PHOTO COURTESY FORD
http://www.co-opliving.com
CL-August 2024

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