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Local News

Report examines long-term savings for Nevada EV drivers

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Alex Gonzalez, Public News Service

new analysis found Nevada drivers can save thousands of dollars by making the switch from a gas-powered car to an electric vehicle.

The Environmental Defense Fund and Climate Power examined the EV costs using Nevada-specific data, and found savings of up to almost $28,000 over 10 years.

Paul Bordenkircher, secretary of the Nevada Electric Vehicle Association, said after crunching some numbers, it made sense for him to purchase a used EV in 2019. While some new models have come down in price and others qualify for tax rebates, Bordenkircher emphasized it is important to not forget about used EVs.

“One of my little soapboxes is not only just electric vehicles, but used electrics in particular,” Bordenkircher explained. “Because of the potential savings that I am seeing, and certainly hope that others would see the same thing.”

He added in 2022, the Inflation Reduction Act made a tax credit of up to $7,500 available for qualifying buyers on certain EVs, although there are restrictions, like a buyer’s income and where the car parts are manufactured. Leasing companies don’t have to abide by those same rules, which Bordenkircher pointed out will mean more new EVs are eligible for the tax credit. In addition, as those cars complete their lease cycle, it’ll cause even more used EVs to become available. He also noted EVs aren’t a great option for everyone in large, primarily rural states like Nevada.

Leasing companies do not have to abide by those same rules, which Bordenkircher pointed out will mean more used EVs will become available as people trade in their cars. He also noted EVs are not great for everyone in large, primarily rural states like Nevada.

Alex Wall, senior clean energy economy adviser for the group Climate Power, said there are many EV options for different lifestyles in today’s market. In the analysis, he stressed they aimed to show a wide range of vehicle types to meet the needs of workers, families and individuals.

“Whether that’s a truck, whether that’s an SUV, whether that’s a family sedan,” Wall outlined. “Cars at all sorts of levels of the auto industry are saving folks significant money, both when it comes to fueling up versus charging, and also just significantly lower maintenance costs.”

While some people remain on the fence about EVs, with concerns about range and lack of charging infrastructure, the report found EVs are bringing good-paying jobs to the Silver State. Since January 2021, an estimated 12,400 Nevada jobs have been created.

This article originally appeared on Public News Service and is republished here under a Creative Commons license.