EV Owners Saving Just $100 Per Year Over Regular Vehicles: Consumer Group

Electric vehicles (EV) are currently saving motorists $100 compared to buying a regular vehicle, says a consumer body. Brian Spak, director at Energy Consumers Australia, said EVs were likely to represent the “single greatest opportunity” for households and small businesses to participate in, and benefit from, the renewable energy transition. But he conceded current gains were “relatively modest.” The director cited a report by his organisation, which indicated that EV owners only saved around $100 (US$65) a year compared to conventional vehicles, when factoring in purchase price. However, Mr. Spak noted that the cost-saving benefit would rise when EV prices dropped. “As electric vehicle prices decline, the CSIRO [Commonwealth Scientific and Industrial Research Organisation] found that the savings for every driver ballooned to more than $1,400 per year by 2030,” he told a parliamentary committee on July 25....