The market for electric cars, or EVs has never been higher, which means more and more people have been making the switch. The question for you is: is now the right time? Or is there still some value in sticking with a good old fashioned gas powered car? This article is here to help you decide. 

Economic Factors

There are many economic reasons that people have been switching to electric cars, the most obvious of which is not having to pay for gas. While there will be an increase on your electricity bill, all sources show that the amount paid will still be significantly less (around 5x less) than for the equivalent amount of fuel. 

This is slightly balanced by the increased initial cost of EVs however that can also be countered with Tax incentives provided by the federal government. Depending on the make and model of the car, it can be a significant savings, however unfortunately there is currently no provincial incentive in Ontario. 

Environmental Factors

Another reason people are switching to EVs is concerns about the environment, and with good reason, EVs are significantly more environmentally friendly compared to traditional cars. While they are not completely carbon neutral they are emission free, so they do not generate any Co2 directly.

Indirectly there is still Co2 emitted during the production of the cars, as well as the power that is generated to power the car. The power for your house and by extension your electric car comes from the local grid, and how the grid gets that power will determine the car’s carbon footprint. 

Range Concerns

A common fear about switching to an electric is the range of the car, Since you can’t take an electric car to a station and refuel it, and instead have to power it at home, or rely on public access charging stations that are few and far between.

This concern was certainly true 5-10 years ago but every year the range of electric cars gets larger and more and more charging stations have been added all across Ontario. While a long road trip with an electric car is certainly a different experience it’s now a more realistic experience than it’s ever been before. 

Lack Of Noise

Another concern that has gained popularity along with electric cars is that the lack of engine noise produced by electric cars will lead to an increase in road accidents. Fortunately these concerns seem to have no basis in fact as of yet, so you can drive worry free. Well, drive safely of course! but you’re not at a greater risk than usual of causing an accident.