All-electric vehicles use only an electric motor and rechargeable battery pack to power the vehicle. A plug-in hybrid (PHEV) has both an electric motor and an internal combustion engine, along with a rechargeable battery pack and gas tank. Most, if not all, major car manufacturers offer an all-electric and a plug-in hybrid vehicle. Today there are about 300,000 EVs on the road and more than 9,300 public chargers in the U.S.
Less Cost, Less Environmental Impact
Because electric vehicles have no tailpipe emissions, they have the potential to reduce emissions of carbon,nitrogen oxide and particulate matter. They also cost less over time to operate. Although they have higher uprfont costs, there is a federal tax credit of up to $7,500 available, depending on the size of the battery. PNM supports the growth of this new business segment in our community by helping to install charging stations, which providers greater range confidence for drivers.
Modeling helps us prioritize work on the grid to ensure it is ready as the number of electric vehicles continues to increase, as well as understand the potential effects electric vehicles might have on the grid. For example, as the number of electric vehicles increases, we must ensure that the increase electrical usage does not affect electricity reliability.
Because these vehicles plug in to the grid, you will use more electricity so you can expect to see an increase in your electricity bill. However, that increased bill could be more than offset by savings at the gas pump.