The cost of Plug-in Electric Vehicles (PEVs) has been touted as ‘the 800lb gorilla in the room’ when it comes to the viable adoption of this new technology. High estimated sticker prices come as a shock to consumers, but what does the total cost of owning a PEV look like? The PGR Calculator allows you to consider the purchase cost (including financing) and the fuel cost of a PEV compared to a Prius or a regular Internal Combustion Engine vehicle over a lifetime of fifteen years. Purchase price and fuel costs are two of the biggest cost drivers, but should be taken as only an estimate of the actual lifetime cost of a vehicle. Consumers should also consider driving habits, maintenance costs, insurance, resale value, and for PEVs- potential battery and charging infrastructure costs.
