Electric vehicles could save drivers up to 60 percent on travel, Consumers Energy says

According to new data released by Consumers Energy, use of electric vehicles in Michigan could cut drivers’ costs by as much as 60 percent, thanks to charging costs as low as 16 cents per kW hour.

Comparatively, the average price per gallon of gas in Michigan right now, amid surging inflation, is about $3.18 per gallon. That means for a 50-mile trip undertaken by an EV, the costs would work out to approximately $2.63, while for the average gas-fueled sedan or light-duty vehicle, costs would be more than double that, at about $6.36, give or take. Further aiding the use of EVs are rebates provided by Consumers and others for home charging system installations and reduced EV charging rates.

“Consumers Energy wants to help EV drivers feel confident about their ability to travel the state with plenty of charging options available,” said Lauren Youngdahl Snyder, vice president of customer experience at Consumers Energy. “Today, an EV driver can travel from Bronson all the way to Traverse City – or from Flint to Grand Rapids – with the public charging network currently in place.”

So far, more than 1,200 Michigan homes have utilized the home rebate offers. At the same time, Consumers has installed 34 fast charging stations and nearly 200 public Level 2 charging stations around the state. More than 200 charging stations are currently planned to enter service over the next two years to help the approximately 13,000 registered EVs operating in Consumers’ service area.

Annually, Consumers calculated that EV sales have grown by more than 20 percent, with greater acceleration expected due to accumulating EV commitments and sales pledges made by U.S. automakers. As a result, Consumers intends to be able to power 1 million EVs in Michigan by 2030, to position for a market where as much as 50 percent of new auto sales could be electric.