[msahin]

Cost of electricity is going up 60-100% in 2023 in New England (and rest of the country I suppose). With oil prices kept below 80$ for the foreseeable future, owning an EV isn't much of an economic decision. I love my Lightning fresh out of oven but am also having second thoughts about whether it will be no more than just a feel good thing. Curious how anyone else feels about the cost.

 

[laselvasurf]

Totally agree. Though I believe gas will rise over time as well at a similar rate to electricity. The average increase in most places in the US has been around 3% annually, so less than gas historically. That said, I watched my electric cost go for $0.12/Kwh when I first got an electric car 3 years ago to $0.24/Kwh now. That's off-peak, for peak hours we are at $.50/Kwh now, which is crazy high. For me it was convincing enough to spend money on a solar system for my home that will produce enough electricity during 8 months out of the year to power everything and charge my lighting. The other 4 months it'll still give enough power to cover most of my electric bill. That was my way of doing a "price protection" against the electric rates. Also with the tax credits for solar being 30%, it ended up being a pretty financially logical thing to do overall with the ROI happening in around 8-9 years.

 

[johnnycwat]

Where is all the extra electric going to come from to fill the EV demand? Many places struggle to provide enough electric now.

 

[ChasingCoral]

Where is all the extra electric going to come from to fill the EV demand? Many places struggle to provide enough electric now.

This is an old, anti-EV trope. Please provide documentation if you feel this is really true.

 

[ChasingCoral]

Cost of electricity is going up 60-100% in 2023 in New England (and rest of the country I suppose). With oil prices kept below 80$ for the foreseeable future, owning an EV isn't much of an economic decision. I love my Lightning fresh out of oven but am also having second thoughts about whether it will be no more than just a feel good thing. Curious how anyone else feels about the cost.

Have you considered going solar or changing your energy supplier?

 

[msahin]

Have you considered going solar or changing your energy supplier?

I have. Changing supplier is like changing your cable company. You have a great first six months then it gets worse than your current provider. Going solar sounds great and may pay off - particularly if your average bill is high, say 400$ a month or more. In my case, it's a HOA community and can't do it without HOA approving it for the whole community. Most people not driving EV or nor having huge electricity bills (average bill is around ~150$ a month for 2022), it is perceived as an unnecessary cost. Frankly, I was in that camp until recently. Electricity cost skyrocketing can change the HOA view and make it happen.

 

[ChasingCoral]

I have. Changing supplier is like changing your cable company. You have a great first six months then it gets worse than your current provider. Going solar sounds great and may pay off - particularly if your average bill is high, say 400$ a month or more. In my case, it's a HOA community and can't do it without HOA approving it for the whole community. Most people not driving EV or nor having huge electricity bills (average bill is around ~150$ a month for 2022), it is perceived as an unnecessary cost. Frankly, I was in that camp until recently. Electricity cost skyrocketing can change the HOA view and make it happen.

Some states have now passed laws that protect the ability of homeowners to install solar, disallowing that control by HOAs. You should check your state laws if you are considering solar.

 

[Voltz]

I don't notice charging costs as much as I notice the quiet in the cab. I'd happily pay more in energy costs for the quiet and lack of fumes.

I feel for ratepayers in high electric rate areas. If my 13¢/kWh home electric TOU rate doubled, it would still leave my energy cost for 260 miles range at parity, or slightly less, than petrol @ $3/gal-22 mpg. This is a big vehicle that's going to use a lot of energy no matter where it comes from.

 

[Leaf to Lightning : )]

Where is all the extra electric going to come from to fill the EV demand? Many places struggle to provide enough electric now.

what do you mean by 'where' is all the electricity going to come from? it's coming 'from' the same place it's always come from: power generating plants. If your question is really a concern of 'if' the utility grid can 'handle' the supposed 'additional' power EV owners use to fuel their vehicles, well, that's not a concern, either.
Here's why: for every gallon of 'gas', it takes a LOT of electricity power to produce it. When you don't need gas power any more, you are replacing the need to provide power to produce it, to then provide power to charge your truck. There is little difference in the offset.
Also, as for the 'grid' being able to handle the supposed 'extra' power needed by EVs, think of it this way. Electric providers give HUGE discounts for nightime electrical usage - meaning that their greatest 'demand' on the grid is during the DAY, not during the overnight when we EV owners are mostly charging. If the grid can already handle the 'daytime' industrial and manufacturing and retail usage of power, it can certainly already handle the growing EV charging requirements during the very LOW usage overnight hours. There is no worry about the grid.

and, I think the notion of the statement that 'many places struggle to provide...' is fake news. You are buying into the big C's constant liberal news outlets commenting on how the 'world is coming to an end', and 'global warming, by Humans, is destroying the earth', supposed 'truths', that are not.
Like anything, power companies grow over time to meet demand.

 

[jimfigler]

Cost of electricity is going up 60-100% in 2023 in New England (and rest of the country I suppose). With oil prices kept below 80$ for the foreseeable future, owning an EV isn't much of an economic decision. I love my Lightning fresh out of oven but am also having second thoughts about whether it will be no more than just a feel good thing. Curious how anyone else feels about the cost.

Damn in NY i'm only paying $0.127 and in process of switching to time of us plan so nights will be $0.072

 

[btreece]

In SW Wisconsin I am paying $.1096 all day. Though the Electric Coop can add a surcharge limited to $.0125 if their acquisition costs exceed a certain price. But still that is a big savings over gas prices.

 

[Quinnjim]

This is an old, anti-EV trope. Please provide documentation if you feel this is really true.

You’ve got to be kidding.

Somebody is living in denial.

 

[Kawartha Lightning]

Our ToU rate off peak is $0.072 kWh which sounds great, but is a misrepresentation because there are delivery and other regulatory charges that get added to everyone’s bill meaning my true cost is more than double that… when everyone’s quoting these rates, are you including those additional costs or just the TOU rate on your bill or posted on the utility website?

 

[Leaf-clarity]

In response to where the energy will come from?

Ideally in the future, all electric cars will be plugged into the grid at all times when parked. Thus BEVs become the electric company’s energy storage when solar panels produce excess energy during super off peak hours (8am to 4pm). During peak consumption hours the BEVs not in use can be used by the electric company to help deal with grid during the 4pm to 9pm hours. Maybe there is an agreement between users getting better rates in exchange of the power company using a percentage of the BEVs battery when they need it.
Electric Vehicle Batteries Will ‘Dwarf’ The Grid’s Energy-Storage Needs

As for energy cost.
My energy cost per kWh has been the same since I started driving BEVs four years ago. Gas prices has almost doubled during that time. I live in California. I know electricity will follow gas’ increase as energy demand increases. But the time I save never visiting a gas station is worth the change from ICE to BEV. Our cars are always full at the beginning of the day.

 

[Voltz]

You’ve got to be kidding.

V2G will provide huge storage and grid balancing opportunities.

I won't cite YouTube as a source, but this is sound reasoning behind the statement that there's enough generation to meet increasing demand.

 

[HellBoy]

Cost of electricity is going up 60-100% in 2023 in New England (and rest of the country I suppose). With oil prices kept below 80$ for the foreseeable future, owning an EV isn't much of an economic decision. I love my Lightning fresh out of oven but am also having second thoughts about whether it will be no more than just a feel good thing. Curious how anyone else feels about the cost.

100% increase in energy?!?! Wholessss

 

[HellBoy]

In response to where the energy will come from?

Ideally in the future, all electric cars will be plugged into the grid at all times when parked. Thus BEVs become the electric company’s energy storage when solar panels produce excess energy during super off peak hours (8am to 4pm). During peak consumption hours the BEVs not in use can be used by the electric company to help deal with grid during the 4pm to 9pm hours. Maybe there is an agreement between users getting better rates in exchange of the power company using a percentage of the BEVs battery when they need it.
Electric Vehicle Batteries Will ‘Dwarf’ The Grid’s Energy-Storage Needs

As for energy cost.
My energy cost per kWh has been the same since I started driving BEVs four years ago. Gas prices has almost doubled during that time. I live in California. I know electricity will follow gas’ increase as energy demand increases. But the time I save never visiting a gas station is worth the change from ICE to BEV. Our cars are always full at the beginning of the day.

Yeah I don’t wanna be part of this lol…there could be unintended consequences and I want no part in it

 

[btreece]

In SW Wisconsin I am paying $.1096 all day. Though the Electric Coop can add a surcharge limited to $.0125 if their acquisition costs exceed a certain price. But still that is a big savings over gas prices.

My Electric Co-op charges $1.27 per day Fixed Charge plus state tax.

 

[Quinnjim]

Yeah I don’t wanna be part of this lol…there could be unintended consequences and I want no part in it

Can you even imagine?? The grid is in such bad shape that they see our vehicles as a source of power. Don’t plan on driving very far….you may show up in your own garage only to find your battery depleted!

 

[THEsocalledfan]

Every reputable non biased expert I've seen say we need a massive increase in nuclear power plants.