Courtesy of NV Energy

How NV Energy Helps You Get the Most Value from Your Electric Vehicle

Compare prices and fuel costs with NV Energy's Electric Vehicle Comparison Tool

June 5, 2019

Despite having recovered from the recession of the late 2000s/early 2010s, Nevadans are still paying some of the highest gas prices in the nation. According to the Automobile Association of America, only California, Hawaii, Washington, and Alaska drivers are paying more to get from here to there.

The “pain at the pump,” as it’s been referred to, is just one reason why drivers are considering the switch to electric vehicles. The U.S. Department of Energy’s eGallon calculator estimates that Nevada EV drivers, in particular, will pay an average eGallon (the cost of fueling a vehicle with electricity compared to a gas-powered vehicle) price of $1.12, far less than a regular gallon of gasoline. 

Saving Money and the Environment

“There can be significant cost savings on both gas and maintenance for the customer by going electric,” explains NV Energy Director of Renewable Energy Programs Sarah Chatterjee. “There are immediate benefits such as lower fuel and maintenance cost, but the long-term environmental benefits are something that no one can ignore.” 

Those environmental benefits include a significant reduction in greenhouse gases that trap heat and make the planet warmer. The burning of fossil fuels for electricity, heat, and transportation are a major source of human-caused greenhouse gas emissions. 

Which Electric Vehicle Is Right for Me?

During a May 25 “Electric Vehicle Guest Drive” event hosted by NV Energy, nearly 45 percent of participants said they would consider an EV for their next car. But if you’re thinking about investing in an EV, it’s important to do your research in advance, not just so you know what you’re buying, but so you know how to maximize the value of your vehicle. 

Las Vegans who took part in the “guest drive” got to experience several of the most advanced electric vehicles on the road, including the Tesla Model 3, Model S and Model X, Hyundai Kona, BMW i3 REX, and Mitsubishi Outlander. All come with benefits that outweigh those of a traditional gas-powered car or truck, but those incentives – maintenance cost among them -- can change depending on several factors.

“Maintenance cost of electric vehicles is significantly lower than regular vehicles,” Chatterjee says. “Although the maintenance cost highly varies depending on the vehicle and driving habits, the maintenance cost for EVs half of that for a regular internal combustion gas engine.”

To help you find the right EV for you, NV Energy offers an “Electric Vehicle Comparison Tool” on its website, which allows you to compare prices and fuel costs of electric and hybrid vehicles with traditional ones. The tool will use information including you’re the length of your commute and monthly energy bill to estimate your potential savings. When you receive your estimate, you’ll not only see the monetary savings but also how much you can reduce your carbon footprint by making the switch to EV.

Why Timing Matters

After choosing the right EV, you’ve got to decide when to keep it charged. Having your electric vehicle plugged in during the day, when air conditioners are often running full-blast, is going to impact your power bill far more than if you charged it during off-peak hours.

NV Energy offers customers a discounted “Time of Use” rate if they charge their vehicles between 10:01 p.m. and 8 a.m. That rate applies to all energy used in the home, not just what’s used to charge a vehicle. Customers can sign up for the discounted rate via the NV Energy website

Workplace Charging Pays Off

While drivers are encouraged to charge their electric vehicles during those off-peak overnight hours, that doesn’t mean they have to go without a charge during the day.
NV Energy offers businesses incentives to install charging stations in their parking areas. The charging stations can be installed in less than four months – sometimes in a couple of weeks – depending on the particular business. In each case, NV Energy will provide an installation incentive for Level 2 chargers or Direct Current (DC) chargers.

Having chargers on site not only benefits employees, but also allows employers to obtain valuable LEED points.  

“Obtaining LEED certification benefits business through providing healthier indoor spaces, establishing recognition as a leader in green building, and lower use and operational costs associated with energy, water, and other resources,” Chatterjee says.