Author: Ryan Waite, CRM, CIC

When most people think of electric vehicles (EVs), they think of Tesla. Tesla is a marketing machine similar to what Apple has accomplished with their phones. But did you know there are currently over 40 different models of EVs and plug-in hybrid electric vehicles (PHEVs) on the market today?

I knew very little about these vehicles until the end of 2017. Since then I’ve done a large amount of research and have become a bit of an EV and PHEV junkie! The information in this beginner’s guide may not make you want to buy one, but it may help you understand why EV owners can’t stop talking about them.

What is an EV?

Unlike standard vehicles that use a gas or diesel-powered engine, EVs use an electric motor powered by electricity from batteries or a fuel cell. You can plug your car into the wall just like you plug in your phone to charge it. There are different charging speeds depending upon the power of the charger. A cross-country trek may not be as convenient in an EV but commuting is a breeze. EVs have drastically different ranges depending on the vehicle, and the technology continues to advance each year. Currently, there are options ranging from 68 miles per charge all the way up to 335 miles per charge. I recently heard from Sean Weckerly, a client advisor at Zimbrick BMW in Madison, that the BMW i4 coming out in 2020 will give over 400 miles per charge.

What is a PHEV?

A PHEV offers a range of miles you can drive completely electric but saves people from “range anxiety” by including a backup gas tank. For example, a Chevy Volt provides 53 all-electric miles per charge. The backup gas tank will give an additional 367 miles per tank for a grand total range of 420 miles. Not bad! Sean Weckerly of Zimbrick BMW has a longer-than-average commute so his BMW 530e PHEV is a great fit. It provides 16 electric miles and has a backup gas tank. Since he’s able to plug in at home and then plug in at the charging station offered at Zimbrick BMW, he’s able to get around 70-75 miles per gallon. With roughly 32 electric miles per day, he only needs to fill up his gas tank every 800 miles.

Are they more expensive than regular cars?

It depends. As you can see on this map, states offer various incentives to purchase an EV or PHEV. These state incentives are in addition to the Federal incentive you can qualify for.

Some states are much more focused on EV technology than others. For example, Arizona allows these vehicles (as well as all fully electric vehicles) to drive in the high-occupancy vehicle (HOV) lane. A friend of mine in Scottsdale cuts off 20 minutes of his commute per day! He is able to drive in the HOV lane because his Chevy Volt qualifies him for the ‘Clean Air Blue Skies’ license plate. When you’re thinking of cost, do you think of the time you might save in traffic or at the gas station?

You’ll also want to think about the savings in gas over the years. Electricity isn’t free when you’re plugging your vehicle in at home, but it’s a minimal cost. The cost is typically around $3-$5 per charge. That’s much lower than what it costs to fill up my standard gas tank!

What is “range anxiety”?

“Range anxiety” is a term people used in the past when there were fewer charging stations and battery technology didn’t produce as many miles in an electric vehicle. Nowadays you’ll see charging stations at grocery stores, retail shops, parking garages, parks, and even some employers offer charging stations to their employees. When you’re in an unfamiliar location you have many options for apps and websites to find charging stations. As more charging stations are added, this term will become non-existent.

Are they slow and boring to drive?

That’s a BIG “no”! EVs offer instant torque which means instant acceleration off the line. For you gearheads, here’s an article on why electric motors are faster off the line than good old internal combustion. A Japanese EV just clocked in at 1.9 seconds going 0 to 60mph, beating Tesla’s Model 3 at 2.28 seconds. For comparison, a Porsche 918 Spyder has done it in 2.2 seconds and a Lamborghini Huracan Performante has done it in 2.3 seconds.

Electricity typically comes from coal. Can you truly say that EVs give off zero emissions?

You bring up a good point, Ryan. To give off close to zero emissions you need to contact your energy company. Clean energy is available through MG&E’s Green Power Tomorrow program where wind and solar power can be purchased. Alliant Energy offers a similar program called Second Nature. Both programs offer you the ability to choose what percentage (1%-100%) of your energy consumption is coming from renewables. If you choose to go 100% renewable it will roughly be around $10 more per month for your energy bill. You can even sign up for Arcadia Power to get 50% renewable energy and it’s completely free. They even offer you the ability to adopt a solar panel instead of installing them on your roof. If you move, the energy savings moves with you! Insider tip: If you go 100% renewable it’s cheaper by a few pennies to go through your local company than through Arcadia Power.

I’m intrigued. Where can I learn more?

Plug In America is a non-profit helping consumers, policy-makers, auto manufacturers and others understand the benefits of driving electric.

EV Rider is MG&E’s one-stop-shop to get your questions answered about EVs and PHEVs.

About Ryan Waite

A native of Madison, Ryan graduated from the University of Wisconsin-Madison with a degree in Psychology and minors in Business and Criminal Justice. He started his career as a retirement plan manager at Kelly Financial in Madison.

Ryan joined Neckerman Insurance Services in 2010, specializing in business and personal insurance. He has earned the Certified Risk Manager (CRM) and Certified Insurance Counselor (CIC) designations which are nationally recognized as important credentials for insurance agents, benefiting his agency and clients. He is now pursuing the new Certified Personal Risk Manager (CPRM) designation to further serve his high net worth personal insurance clients.

Ryan is an active part of the Madison community, currently serving on the Board of Directors of CATCH (Community Around The Children’s Hospital). In addition, he has sat on committees with the Middleton Chamber of Commerce, 4 years on the Board of Dane Buy Local, and is also a member of Downtown Madison, Inc., Wisconsin Technology Council, Atlas Providers and Madison Area Connectors.

In his free time, Ryan enjoys spending time with his family (wife and two young daughters), attending Wisconsin sporting events, traveling and playing sports. Ryan ran his first—and only, according to him—marathon in October of 2013, the Chicago Marathon.