Duke Energy introduces tool to help drivers determine how much they will save using EVs

Duke Energy has released a new tool that lets drivers calculate how much money they will save by driving an electric vehicle (EV).

Duke’s Electric Vehicle Savings Calculator allows drivers to make cost comparisons between driving their current vehicle and driving an EV.

“Drivers want specific information about the operational savings they can see if they switch to an electric vehicle,” Brita Formato, Duke Energy’s managing director, Electrification Transportation, said. “We designed this online tool so drivers can make an apples-to-apples comparison with good information about the benefits of driving electric.”

To use the tool, drivers will have to have a rough of how many miles per gallon their car gets, know how much they are paying for a gallon of gas, and estimate how many miles they drive on a typical day. The tool will then look at the price of additional electricity drivers use when charging at home – since 80 percent of EV charging takes place at home.

Duke Energy has launched several programs to expand EV charging internally at Duke Energy locations and externally through several utility pilot programs. For example, in Florida, the company’s Park and Plug pilot has installed more than 570 EV public charging stations throughout the state. In North Carolina, a $25 million pilot program will lead to the installation of 200 public Level 2 and fast-charging stations. In South Carolina, Duke will provide up to a total of $1,000 for 400 residential Duke Energy Carolinas customers who install a Level 2 charging station, provide access to their charging data, and manage EV charging load to occur during off-peak periods.

Currently, there are more than 1.7 million EVs in the United States. According to the Edison Electric Institute and the Institute for Electric Innovation, that number is expected to grow to 18 million EVs by 2030.