Is it worth buying an electric car in 2024? Facts and misconceptions
May 28, 2024
Many believe that buying an electric car is not worth it – as its price is so high that it will never pay off. However, in our opinion, the question is much more complex than that. In our article, we examine when it makes sense to buy an electric or hybrid car today!
It's worth buying an electric car if…
…you would drive at least 15-20 thousand kilometers a year, and you have a charging option at home. The prices of street charging stations are increasingly high. They are almost constantly changing, so there might still be instances where we have to charge at an exorbitant rate, especially if we are talking about a less populated area.
However, with the option to charge at home, you can still benefit greatly: the average electricity price is still far lower than that of gasoline. Therefore, if we fit into the residential rate of 70 Ft according to the article from Kiszámoló, we will pay 210 thousand Forints a year for home charging (18 kWh/100 km, calculated with a 5-8% charging loss) – compared to the annual gasoline cost of 585 thousand Forints (with an annual consumption of 975 liters and a consumption of 6.5 liters per 100 km). Thus, you could save up to 1.8 million Forints on fuel costs over five years. Therefore, it cannot fundamentally be said that electric driving is more expensive today than traditional driving.
The Hybrid Car and Its Advantages
The other big question is whether it is worth buying a hybrid car? It also depends on what type we choose for what purpose: the full, the mild, or the plug-in type. The full hybrid is the oldest, "self-charging" version: its battery charges automatically during braking and in engine brake mode, perfect for distances of 3-6 kilometers. The mild hybrid is the most cost-effective and greenest type, but its electric motor has low power. The plug-in can cover greater distances of 25-50 km with electric power – making it perfect for everyday travel and several longer trips throughout the year.
We benefit from hybrids when we need a vehicle that can drive conventionally on the highway and electrically in urban environments. Their consumption, servicing, and maintenance costs are also relatively low.
Cost-effective charging with Voltie
When considering the return on investment, the current electricity cost is also a key factor. The Voltie chargers offer numerous advantages from this perspective as well. On one hand, they can be perfectly harmonized with your home solar panel system: your car starts charging when there is already enough green energy surplus in your home. Through the dynamic mode, the device adjusts the maximum charging power according to your home's energy consumption.
However, our chargers can do even more. If you're curious about more, get in touch with us!
