IE 11 Not Supported

For optimal browsing, we recommend Chrome, Firefox or Safari browsers.

Report: High Gas Prices Fuel Interest in Electric Vehicles

On Wednesday, AAA released the results of its latest consumer survey, which found that 25 percent of respondents said that they would likely buy a fully electric car for their next vehicle purchase.

electric vehicles
(TNS) — With gas prices across the country nearly 50% higher than they were last year, more and more Americans are considering a switch to electric vehicles.

On Wednesday, AAA released the results of its latest consumer survey, finding that 25% of respondents said that they would likely buy a fully electric car for their next vehicle purchase.

Millennials were the most likely of any age group to say that they would purchase a fully electric vehicle at 30%.

High gas prices are the driving force in most consumers wanting to go electric, with 77% of those intending to switch citing saving on fuel as the primary reason for their decision.

"The increase in gas prices over the last six months has pushed consumers to consider going electric, especially for younger generations," said Greg Brannon, AAA's director of Automotive Engineering and Industry Relations. "They are looking for ways to save, and automakers continue to incorporate cool styling and the latest cutting-edge technology into electric vehicles, which appeal to this group."

As of Wednesday, the national average price for a gallon of gas is $4.63, which is $1.49 more than it was a year ago, according to AAA.

Though many are enthused about the prospect of switching to an electric vehicle to save money on fuel, there are still widespread concerns regarding charging accessibility and vehicle travel range.

Roughly 60% of survey respondents said they were concerned about an insufficient amount of places to charge, with 58% saying they feared running out of charge during the middle of a trip.

"The deeper issue with range anxiety is that it's going to take more than just improving how far an electric vehicle can go to convince people to make the switch," continued Brannon.

Higher purchase price (60%) and high cost of battery repair or replacement (55%) were also cited as major concerns by more than half of all survey respondents.

ELECTRIFICATION EFFORTS IN NYC

In an effort to address residents' concerns regarding charging availability, New York City is making a push to enhance the city's electric vehicle charging network.

In September, former Department of Transportation (DOT) Commissioner Hank Gutman released a new plan, titled Electrifying New York: An Electric Vehicle Vision Plan for New York City, which would drastically expand the city's electric vehicle charging network in the coming years.

The city's new plan calls for the installation of 40,000 public Level 2 (L2) chargers and 6,000 Direct Current (DC) fast chargers citywide by 2030.

The plan outlines eight initiatives being undertaken by the city to help achieve the ambitious charging infrastructure expansion.

NYC will expand its network of city-operated DC fast chargers by over 80 plugs by 2025. Currently, there are 117 fast chargers located throughout the city. These fast chargers are capable of producing an 80% charge in 30 to 60 minutes, depending on the vehicle.

All city municipal parking lots and garages will have 20% of their parking spots equipped with L2 chargers by 2025, and 40% by 2030.

The DOT will also install 1,000 curbside charging stations throughout the five boroughs by 2025, with that number increasing to 10,000 curbside charging stations by 2030.

City officials will develop a plan for Level 2 and Level 1 user-supplied cord charging systems that integrate with existing street infrastructure and will advocate for federal funding to support its electrification initiatives.

Additionally, the city will launch electric vehicle public awareness campaigns through PlugNYC, engage electric vehicle stakeholders to better understand the needs of the market and work with regulators and utility companies to help facilitate the installation of charging infrastructure.

SWITCH AND SAVE

The investment in charging stations comes at a time when both the state and federal governments are offering financial incentives for drivers to make the switch to electric vehicles.

Through the Drive Clean Rebate program, which is administered by the N.Y. State Energy Research and Development Authority (NYSERDA), consumers purchasing or leasing an electric vehicle can receive a point-of-sale rebate ranging from $500 to $2,000. Rebates will be on the higher end for longer range, all-electric vehicles.

The rebate is available for more than 60 models of vehicles and offered by car dealers in all 62 counties of New York.

Consumers can also benefit from a federal income tax credit of up to $7,500 for the purchase of a new all-electric or plug-in hybrid vehicle.

Like the Drive Clean Rebate program, the federal income tax credit amount will vary based on the vehicle's battery capacity.

© 2022 Staten Island Advance, N.Y. Distributed by Tribune Content Agency, LLC.


IIJA & ARP Broadband Funding

Cisco is helping communities like yours bridge the digital divide to power a more inclusive future for all. Our experts in mass scale infrastructure, community broadband, and security can help you get started today at www.cisco.com/go/digitaldivide.