My Experience Using the Pixel 9 Pro XL for Ultimate EV Savings Cheat Sheet
As summer comes to an end, I couldn't help but notice the fluctuation in gas prices and the potential long-term savings involved in owning an Electric Vehicle (EV). With gas prices still hovering around $3.50/gallon nationally, the idea of switching to an EV seems more appealing than ever. According to the U.S. Energy Information Administration, gas prices this year have been lower than in 2023.
The Ultimate EV Savings Cheat Sheet
One of the main factors that deter consumers from switching to EVs is the perceived high cost. The average price of EVs in July 2024 was $56,520, according to Kelly Blue Book. However, after test driving various EVs, I found the Hyundai Kona Electric to be a cost-effective option at $32,875 for the base model SE trim.
Using my Google Pixel 9 Pro XL, I asked Google Gemini to create a savings cheat sheet comparing the costs of owning a gas-powered vehicle versus an EV over a span of 10 years, assuming a monthly mileage of 1,000 miles. The results were eye-opening.
The total cost of ownership formula included factors such as initial cost, fuel cost, maintenance & repairs, insurance, registration & taxes, and depreciation. Google Gemini's detailed breakdown highlighted the significant savings potential of owning an EV like the Hyundai Kona Electric.
Long-Term Savings and Considerations
Despite the higher upfront cost of EVs, the long-term savings can be substantial. Google Gemini's calculations showed that the Hyundai Kona Electric could save $42,688.87 over 10 years compared to $51,473 for the gas-powered Kona.
Factors such as annual increases in gas and electricity rates, charging costs at stations versus home, and decreased vehicle efficiency over time need to be considered. However, EVs still offer greater savings in the long run, especially with the availability of free EV charging options and sustainable charging solutions like solar power.
Ultimately, while EVs may have higher initial costs, the potential for long-term savings and environmental benefits make them a compelling choice for environmentally-conscious consumers.
