July 17, 2024

The 10 things to know before buying an electric car

CPO Powy electric car columns

Index

  • Charging network
  • Battery autonomy
  • Charging time
  • Home Charging and Smart Home
  • Incentives and facilities
  • Costs
  • Battery life
  • Driving experience
  • Environmental impact
  • Resale value

Opting for an electric car marks a key step toward a more sustainable future. However, before making the purchase of an electric vehicle, it is essential to carefully consider several aspects to ensure that this choice is the right one for you. 

We at Powy have created a guide with 10 key points to consider before buying an electric car.  

1. Charging network

The availability of charging stations is a crucial factor when considering the purchase of an electric car. Therefore, before you buy, check for charging points in your area, and especially along the routes you travel most frequently. Even in cases where you have a home charging infrastructure, in several cases you may have to rely on the public charging network.

The network of public charging stations is growing rapidly, with an increase in fast-charging points along highways and in urban centers, throughout Europe. However, in some rural areas, availability is more limited. Powy has installed several charging stations in strategic locations, in Italy and Spain, making it easier for electric car drivers to plan for charging.

2. Battery autonomy.

An essential aspect to consider before choosing electric is thecar's range: the decision must be made by assessing one's needs. To get an idea, a 2022 survey (U.S. Department of Energy: "Median and maximum range of electric vehicles offered for sale in the United States, Model Years 2011-2022") of 46,000 vehicles in 17 countries found that 86 percent of electric cars on the market meet more than 98 percent of European trips without recharging.

It also found an increase in average range from 211 km in 2015 to 350 km in 2021: a 65 percent increase. Often, many people, tend to underestimate the range of cars, as this study showed; in Italy, for example, there is an average daily range of only 37 km: far below the range of most electric cars on the market today.

If you have no special needs, a vehicle with a range of 200 to 350 kilometers is ideal for city use: this will allow you to recharge the car every two or three days. Also, if you live in the city it may be convenient to opt for a small electric car. If, on the other hand, you anticipate greater use and to reach even 400 kilometers per day, we recommend buying a car with a larger battery capacity, despite the fact that to date there are not many models that can guarantee high guaranteed autonomy.

3. Charging time

The time it takes to recharge an electric car can vary greatly depending on several factors, the most important among them being the power of the charging point, the maximum power the accumulator is capable of absorbing, and the capacity of the battery. 

To approximate, according to Motus-E, the charging time can be estimated by dividing the battery capacity by the available charging power, assuming the infrastructure is capable of delivering the maximum power supported by the vehicle.

Theoretically, a 50 kWh battery could be fully charged in 30 minutes at 100 kW and in 20 minutes at 150 kW. However, in practice, charging power depends on other variations, such as battery temperature and percentage of charge remaining. For example, for an average car with a range of about 450 km, capable of charging at 150 kW on direct current, it is possible to go from 20% to 80% charge in about 20-25 minutes.

Currently in Italy, the most powerful public columns reach a power output of 350 kW, enabling the latest generation of electric cars to charge about 200 km of range every 10 minutes. Until a few years ago, the maximum charging power did not exceed 50 kW.

In contrast, at home charging stations, which have less power, compact cars take about 9-10 hours for a full charge, while medium-large cars take about 12 hours. So consider how much time you can spend charging your vehicle and how it fits into your daily lifestyle.  

Powy offers a full range of charging infrastructure to meet different needs and usage scenarios. Proposed solutions include "Slow" charging up to 7.4 kW, ideal for long-stay parking lots and residential areas; "Quick" charging up to 22 kW, perfect for hotels and shopping malls; "Fast" charging up to 100 kW, suitable for highway service stations and corporate fleets; "Super-fast" charging up to 150 kW, ideal for high-traffic transport nodes; and finally "Ultra-fast" charging above 150 kW, which minimizes waiting time and is perfect for long trips and high-traffic areas.

4. Smart Home Charging

Modern electric cars can be easily integrated with smart home management systems, offering numerous advantages in convenience, energy efficiency and safety.

Electric cars can be programmed to recharge during off-peak hours, when electricity is cheapest, using home energy management systems. Through smartphone apps, owners can remotely monitor and control charging, climate control, and other vehicle functions and integrate them with other smart home devices.

Smart home systems can monitor car energy consumption and optimize overall energy use in the home, contributing to more efficient and sustainable management. In addition, electric cars can be recharged using solar energy produced by home solar panels, further reducing environmental impact and energy costs.

Exploring integration with the smart home can offer significant added value to future electric car owners by showing how these vehicles can become a central part of a smart and sustainable home.

5. Incentives and facilities

Incentives and concessions for electric vehicles are not just limited to rebates and tax credits, but offer significant benefits that make buying an electric car especially affordable.

In many cities, electric vehicles have free access to restricted traffic zones, helping to avoid traffic congestion and improve urban air quality. They also enjoy full exemptions for the first 5 years after first registration or partial exemptions from subsequent years for annual car tax payments, reducing operating costs.

Insurance companies tend to offer lower rates for electric vehicles, recognizing their lower emission of pollutants and lower risk of accidents than conventional vehicles. 

In several countries, including Italy, governments are actively promoting the adoption of electric vehicles through targeted incentives. However, it is important to carefully assess the requirements needed to qualify for such incentives and to consider the overall impact on the cost of the vehicle in the long run.

6. Costs

The cost of an electric car goes far beyond the initial purchase price. Although the latter may be higher than for an internal combustion model, the total cost of ownership, considering the entire life cycle of the vehicle, may prove more affordable.

Charging costs, generally lower than for fuel, vary depending on the rates charged by operators and government policies in place. In Italy, the average cost to recharge an electric car at home is about €0.36/kWh, while in Spain it is about €0.22/kWh.

This translates into an annual cost of about €500 for an electric hatchback used mostly in the city, compared to more than €1,000 for a gasoline car. In addition, the charging network in both countries is expanding rapidly, offering various home and public charging options at competitive prices.

In terms of maintenance, electric cars require fewer mechanical components and thus have lower maintenance costs than conventional vehicles. The average annual maintenance expense for an electric car is about €182, compared with €314 for gasoline cars.

However, battery replacement, while a less frequent operation than changing an internal combustion engine, can entail a significant expense in the long run. Despite this, electric cars benefit from tax breaks and lower insurance costs, making them a cost-effective choice in the long run.

[Sources: elaborations based on data from ARERA, Red Eléctrica de España, ADAC (Allgemeiner Deutscher Automobil-Club) and International Council on Clean Transportation (ICCT). Please note that estimates may contain errors].

7. Battery life

The battery is one of the most expensive components of an electric car. Most modern batteries last between 150,000 and 300,000 kilometers, but their capacity can decrease over time.

Check the battery warranty and the manufacturer's policy on battery replacement. Many manufacturers offer warranties of 8 years or more on the battery, which may cover replacement or repair in the event of significant degradation. Also inquire about the battery management technologies used in the vehicle, which can affect its longevity and overall performance.

8. Electric car driving experience

Electric cars offer a different driving experience than conventional vehicles. They are generally quieter, due to the lack of an internal combustion engine, and they offer instant torque, which can make acceleration smoother and faster.

This makes driving - in the opinion of many - more pleasant and responsive, especially in the city. In addition, many electric cars are equipped with advanced driver assistance technologies, further enhancing the driving experience. It is advisable to take a test drive to see if you like the driving sensation and if the vehicle meets your expectations.

9. Environmental impact

To assess the environmental impact of a vehicle, it is essential to consider the entire life cycle through Life Cycle Assessment (LCA), which includes emissions generated during production, use and disposal (or battery recycling). 

According to data reported by Motus-E, in the U.S. and Europe, electric cars emit less CO₂ overall than gasoline cars, despite more impactful initial production. In Europe, electric cars emit between 10 and 21 tons, while internal combustion cars reach at least 44 tons. On average, an electric car emits 60 percent less CO₂ than a gasoline car, with reductions of up to 77 percent in Europe and 88 percent in the US.

With the rise of renewable energy and technological advances, emissions from battery production, which currently account for about 60 percent of an electric car's total emissions, will be further reduced.

10. Resale value of the electric car

The market for electric cars is changing rapidly, and resale value can vary. Newer models with greater range tend to hold their value better. Consider buying a car with a good reputation and warranty to protect your investment.

It is also useful to research models that have proven to have good resale value over time. Also, keep in mind that the evolution of technology can affect resale value: models with outdated technology may depreciate more quickly.

Conclusion

Buying an electric car is an important decision, not to be taken lightly, but it is important to make some considerations. As the choice of an electric car becomes increasingly attractive, it is critical to consider not only the features of the vehicle but also the supporting ecosystem.

Powy works every day to meet charging needs by offering a network of charging stations in strategic locations and also with fast and ultra-rapid charging options. This allows users to be able to plan even long trips, making the purchase of electric cars more attractive.

At Powy we believe that carefully evaluating these 10 aspects will help you make an informed decision that will allow you to take full advantage of the benefits of an electric vehicle. With this knowledge you can contribute to a more sustainable future and make the best choice for you.