| Why Wait For Detroit? Drive a Converted Electric Vehicle Today |
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| Steve's Beemer |
| Why would anyone spend $15,000 for a second vehicle that goes only 40
miles on a charge?
* Economic patriotism: Part of the money spent on gasoline leaves the country. Money spent on a domestic fuel (coal and natural gas to produce electricity) circulates longer in the USA. * Prepare the market: If 100,000 vehicles are using standard batteries in 2007, then battery companies could start building a better battery for those vehicles. * Guilt: As a taxpayer, I pay for soldiers to protect oil pipelines. If I use electricity, I’m not creating demand for more gasoline, so fewer soldiers might be needed. If those soldiers are sweating in the desert, why shouldn’t I as a consumer sacrifice a bit and pay more for my fuel? What are the economics? Does the cheaper fuel actually pay for itself? What are the actual costs of owning an EV? |
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Let’s say that it costs $15,000 to buy a car chassis, jettison the engine and put in an electric motor and batteries. Most conversions will cost less, but let’s start with that assumption. Assume 8% as the cost of borrowing the money. $15,000 x 8% = $1200 per year or $100 a month to buy an EV. >>>> See comment >>> Travel needs: 30 miles per day x 30 days = 900 miles per month Insurance: An extra $400 per year or $34 a month to add a car to my insurance policy Gasoline at 25 mpg 900/25 = 36 gallons per month Cost at $2 per gallon = $72 per month >> 8 cents per mile Cost at $3 per gallon = $108 per month>> 12 cents per mile Cost of electricity 10 cents per kilowatt-hour Three Miles per kilowatt-hour --- 900/3 = 300 kilowatt-hours per month 3.3 cents per mile for electricity. 300 KWHr x 12 cents per KWHr = $36 per month for fuel ============================================== Gasoline at Gasoline at $2 per gallon $3 per gallon Miles driven in a month 900 900 Fuel use 25 mpg 25 mpg Cost per mile 8 cents per mile 12 cents per mile Amount of fuel 36 gallons 36 gallons Cost $72 $108 Maintenance $72 $72 Oil change etc. 8 cents per mile Amount spent per month $144 $180 Cost difference between gasoline and electric 170 – 144 = +$10 -$26 per month per month Analysis by S. McCrea, WhyWaitForDetroit.com September 28, 2006 globalcooling@comcast.net It’s worth $62 a month extra if gasoline falls to $2 a gallon. I don’t want to be responsible for the people who is defending those pipelines. I want to help reduce demand for foreign oil so we don’t have to defend the supply line. -- Steve Comments by Shari Prange Maintenance seems low. The number I use is one from Scott Cornell, although it is some years old now, but the cost of gas has only gone up, so it's probably still pretty valid. He had a gas Rabbit and an electric Rabbit. He ran costs for both of them, including normal wear and replacment items and battery pack, amortized over 10 years. He found OPERATING expenses to be about 1/3 of those for the ICE. So the 2/3 saved would more than cover the cost of conversion to begin with. But here's something else: money isn't the only issue. If people only bought cars based on costs, we'd all be driving Hyundai Accents and Toyota Yaris and Kia Rios. Put it another way: why would people spend much MORE than $15,000 for a big SUV that only gets 15 miles to the gallon and has tires that cost $200 each - and they only drive it 25 miles a day? Which one makes less sense? What possible NEED is there for a Hummer, or a Rolls Royce, or a Ferrari? Or even a Crossfire, or most of the big-wheel jacked-up pickup trucks that never ever go offroad? In addition to cost and functionality, people spend extra money for cars that make them feel sexy, or macho, or elite, or trendy, or whatever. People get conversions to feel good about themselves, or because they like having something really unusual, or they are intrigued by the technology. The conversion cost/range ratio is not relevant. -- Shari Prange, ElectroAuto.com |
| Comment by Shari: Not sure about this one. The true cost of the EV would include the principal AND interest. However, $15,000 would also be a reasonable price for a new gas second car. Shari Electro Automotive POB 1113 Felton CA 95018-1113 Telephone 831-429-1989 http://www.electroauto.com electro@cruzio.com Electric Car Conversion Kits * Components * Books * Videos * Since 1979 Richard Minner has a loan payment calculator on his web site Installment Loan Payment Calculator Payment formula from mathforum.org. Loan amount 15,000 Annual interest rate 8% Payments per year 12 Term in years 10 Monthly payment $181.99 Total payment $21,838.96 Total interest $6,838.96 In the calculation, I'm assuming that the loan is maintained when I buy the next vehicle. In other words, when I sell this EV, I will take out another loan and I might never pay back the principal. |
| Electric Electricity at 12 cents per KWHr 900 miles per month Fuel use 3 miles per KWHr Cost per mile 3.4 cents per mile Amount of fuel 300 KWHr Cost $36 Insurance for Electric car $34 Maintenance No oil to change, no tune-ups Amount spent per month $170* including the $100 per month to buy the electric car |
| The Daily Use Vehicle = Electric The Weekend Travel Vehicle = Gasoline Most people currently use a gasoline vehicle to cover both functions. How much more will it cost to have an additional vehicle -- just for short trips? |