WASHINGTON (dpa-AFX) - Here's a good news for Americans who are thinking about switching to an electric vehicle to save money spent on fuel.
The Energy Department has introduced a new tool that enables drivers to calculate how much they can save on fuel costs by driving a fully electric or plug-in hybrid electric vehicle.
Drivers can enter their ZIP code or state, as well as any additional information including vehicle size, model year, fuel tank size, fuel economy, and annual mileage into the calculator. The tool then generates estimates of how much drivers can save. Results show savings of up to $2,200 a year for a fully electric vehicle, and $1,500 for a hybrid electric vehicle, claims the U.S. Department of Energy.
Created by Argonne National Laboratory, researchers found that no matter where you live in the country, you will save driving an electric vehicle. Plug-in hybrid electric vehicles saved drivers in more than 99 percent of U.S. ZIP codes.
The largest savings were found in areas with high gasoline prices, low electricity prices, and where drivers drove longer distances, and used older, less fuel-efficient vehicles.
The savings calculator is based on Argonne's recently published technical report, 'Adoption of Plug-In Electric Vehicles: Local Fuel Use and Greenhouse Gas Emissions Reductions Across the U.S.'
Notably, drivers in these states can expect large savings at the pump by choosing more fuel-efficient pickup trucks and SUVs: South Dakota - up to $1,700 per year, Nebraska - up to $1,700 per year, Montana - up to $1,700 per year, West Virginia - up to $1,800 per year, Arkansas - up to $1,500 per year, and Louisiana - up to $1,300 per year.
The report also examines the impact of greenhouse gas emissions, which considers the entire life cycle of a vehicle's energy consumption. The researchers found that battery EV drivers can save close to 1 lb. of carbon dioxide per mile driven. This represents a greenhouse gas emission reduction of 75% compared to a conventional vehicle.
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