Where do I start?
You might be a good candidate for saving money with an electric vehicle if you:
- drive 20 or more miles a day
- can buy or lease a new or used electric vehicle
- want to limit your use of gasoline or reduce air pollution
What incentives are available?
A federal tax credit of up to $7,500 may be available for a new, qualified, plug-in electric vehicle. Dealers and manufacturers can roll the tax credit into lease packages, which might be an affordable means to experience what electric vehicles have to offer without a long term commitment.
Rate plans that complement electric vehicles
If you are considering an electric vehicle, ask yourself if you tend not to use a lot of electricity during the day on weekdays. If you can shift 60% of your electricity usage to essentially a nights and weekends time period, you could charge your car at night, at home, very economically.
On standard residential Alliant Energy rates, an all-electric vehicle will be able to run on less than $1.25/gallon equivalent cost of electricity. If you change to our Time of Day rates, which charge less on nights and weekends, and charge the car at night, that cost could drop further.
What types of electric vehicles are there?
Hybrid vehicles are powered by an internal combustion engine, assisted by a battery and electric motor. Hybrids are not plug-in electric vehicles.
Plug-in hybrid vehicles are powered by an internal combustion engine and electric motor. They have a larger battery pack than hybrid vehicles, and can be recharged by plugging them into an outlet.
Battery electric vehicles are powered by an electric motor and battery alone. Battery electric vehicles can travel farther on electricity alone than plug-in hybrids, but their range depends on the size of the batteries. They do not use gasoline.