By Michael P. Tremoglie NEW YORK ( MainStreet) -- The U.S. Department of Energy (DOE) announced last month the launching of the "eGallon" - a tool that will compare the costs of fueling electric vehicles (EVs) to fueling gasoline-powered ones. According to the report, the national average eGallon price is about $1.14. This means that an EV can travel as far on $1.14 worth of electricity as a conventional vehicle on a gallon of gasoline. The tool also does state by state comparisons as well. So while everyone can currently calculate how much it costs to go to work with a conventional vehicle - now EV drivers will be able to calculate their costs.
Since there is some fluctuation in electricity prices from state to state, the eGallon tool calculates costs in each state compared to the cost of gasoline. The DOE claims that "fueling your car with gasoline costs roughly three times more than fueling with electricity."
- (1) Higher vehicle purchase price
- (2) Limited range
- (3) The inconvenience of waiting hours to refuel.
"Therefore, they argue, government must intervene with tax breaks and other subsidies to overcome these market 'barriers,' he said. But Lewis said that the Israelis tried it, "and it was a Solyndra-like flop."