So you‘re considering an electric vehicle (EV) and wondering how realistic ownership might be in North Carolina? Well you‘ve come to the right place! This comprehensive guide will cover everything you need to know – from upfront costs and available incentives to public charging infrastructure and total cost of operation.
Overview of EV Ownership in North Carolina
Here‘s a quick look at the key questions we‘ll cover to help you decide if an EV fits your lifestyle and needs in NC:
- How extensive is the public charging network, both in cities and along major highways?
- What do charging costs look like – both using public stations versus charging at home?
- Are there any federal or state tax credits or incentives to help offset the upfront purchase price?
- How do total lifetime costs of popular EVs compare to similar gas-powered models?
- Where are the nearest dealerships carrying EV inventory to shop and test drive?
Let‘s explore each area in detail…
EV Charging Infrastructure Across North Carolina
Access to charging, both during daily commuting and long road trips, remains many drivers‘ top concern when considering an EV. So what does North Carolina‘s public charging network look like in 2023?
Public Charging Station Locations
As of January 2023, North Carolina has over 3,500 public charging outlets at over 1,300 locations statewide according to the Department of Energy‘s Alternative Fuel Data Center.
Here‘s a summary of stations counts by city and connector type:
| City | Total Stations | Level 2 Chargers | DC Fast Chargers |
|---|---|---|---|
| Raleigh | 800 | 750 | 320 |
| Charlotte | 750 | 705 | 210 |
| Asheville | 325 | 310 | 93 |
| Durham | 225 | 205 | 75 |
| Wilmington | 175 | 170 | 32 |
The state ranks 9th nationwide for total charging outlets available.
Population hubs have the highest concentration of chargers as expected. But even rural thoroughfares like I-95, I-40, and I-77 have charging sites in both directions roughly every 50 miles or less.
This breadth of locations allows most EV drivers to comfortably road trip and find stations within reasonable distances when needed. Apps like PlugShare make identifying nearby stations for a given route simple.
North Carolina‘s Charging Infrastructure Expansion Plans
In August 2022, the NC Department of Transportation released an Electric Vehicle Infrastructure Deployment Plan centered on expanding charging access statewide over 5 years using funding from the 2021 Bipartisan Infrastructure Law.
Their proposed investments focus especially on:
- Adding more 350 kW DC fast charging ports capable of adding 200+ miles of range in just 15-30 minutes
- Ensuring maximum distances of 50 miles between available DC fast chargers along highway corridors
- Expanding charging locations across rural areas
- Upgrading many older 50 kW DC and Level 2 stations to support faster charging times
Over $109 million is budgeted towards these efforts to ensure driving an EV in North Carolina continues getting easier each year.
What Does It Cost To Charge an Electric Vehicle in North Carolina?
When weighing EV ownership costs, a key question is how much you‘ll pay for "fuel" – meaning charges to top up your battery. Costs can vary significantly between public and home charging options.
Public Charging Rates in North Carolina
If relying mainly on public infrastructure, here is an overview of average per-hour charging rates by connector type:
-
Level 1 Chargers (120V wall outlet):
- Often free
- Add just 2-5 miles of range per hour
-
Level 2 Chargers (240V):
- $0.15 – $0.25 per kWh
- Add 10-25 miles of range per hour
- Full charge for a 60 kWh battery = $9 – $15
-
DC Fast Chargers (440V):
- $0.30+ per kWh
- Add up to 200 miles in 15-30 minutes
- Full charge for a 60 kWh battery = $18
As with gasoline, charging prices can vary quite a bit by location and provider. But Level 2 strikes the best balance of charging speed and affordability for public stations. Apps like Chargeway display real-time pricing across networks.
Home Charging Costs in North Carolina
For charging at home, your electric utility‘s residential electricity rate is the biggest factor. Rates can vary significantly across providers.
The state‘s largest utility is Duke Energy at over 3 million customers. They currently charge around $0.12 per kWh.
So if your EV has a 60 kWh battery, a full charge would cost approximately $7.20 with Duke. Of course rates fluctuate a bit over time, but staying under $10 per full charge makes home EV refueling quite reasonable.
Installing a 240V Level 2 charger for faster charging adds roughly $500-$1500 upfront depending on electrical panel proximity – many find this a smart upgrade for overnight charging needs up to 5-6 times weekly.
Total Cost of Ownership Over 5 Years
Over a typical 5 year ownership period, just how much can an EV save over an equivalent gas-powered vehicle when tallying both upfront and ongoing costs?
Let‘s compare the Mustang Mach-E EV to the gas Mustang GT Convertible – fairly similar performance SUV/crossover models priced under $60k.
| Cost Type | Mustang Mach-E AWD EV | Mustang GT Convertible |
|---|---|---|
| MSRP | $52,975 | $53,595 |
| Estimated Fuel Costs | $4,612 | $15,590 |
| Insurance Premiums | $7,200 | $8,100 |
| Charger Installation (EV only) | $1,500 | $0 |
| Total 5 Year Cost | $66,287 | $77,285 |
| Total Savings over 5 Years | – | $10,998 |
Based on 15,000 miles per year driven and North Carolina‘s gas prices, the EV version saves almost $11,000 total during ownership primarily thanks to lower electricity "fuel" costs versus gas.
Maintenance costs are also lower given EVs need no oil changes plus have reduced brake wear thanks to regenerative braking. So depending on your driving needs, total operation savings could end up even higher.
Electric Vehicle Incentives Available in North Carolina
Incentives and tax credits provide an excellent way to offset higher upfront prices for EVs while charging infrastructure continues scaling up. But what‘s currently offered for drivers in North Carolina?
Unfortunately North Carolina does not have extensive state-level credits and rebates specifically for purchasing an EV right now.
Previously a 35% tax credit for at-home charging installation costs did exist, but that policy expired at the start of 2022. No word yet if legislators may reinstate an EV buyer incentive.
The recently passed Inflation Reduction Act from the federal government however did expand national electric vehicle credits in a major way.
Expanded Federal Electric Vehicle Tax Credit
The revamped incentive offers up to $7,500 back at tax time when filing your return the year after purchasing an eligible new EV. Used EVs now also qualify for a credit up to $4,000.
The actual amount you‘ll qualify for depends partially on the battery components and manufacturing location per requirements strengthening US supply chains:
- Full $7,500 credit available for models where final assembly occurs in North America
- Partial credits of $3,750 apply if batteries use at least 40% Chinese materials
- Further lowered phase-outs start in 2027 based on income caps and manufacturer sales volumes
Several automakers have already shared commitments to boost US production capacity over the next few years to access the maximum incentives.
EV Models Eligible for the $7,500 Federal Tax Credit
As of early 2023, the following new all-electric models qualify for the full $7,500 credit based on domestic assembly and battery sourcing meeting government requirements:
- BMW i4
- Chevrolet Bolt (all variations)
- Chevrolet Silverado EV
- Ford F-150 Lightning
- Ford Mustang Mach-E
- Genesis GV60
- Lucid Air
- Nissan Leaf
- Rivian EVs (R1T, R1S, Delivery Van)
- Tesla Model 3
- Tesla Model Y
So while North Carolina lacks local incentives beyond some special utility rates right now, the boosted federal credits significantly improve affordability for residents in the market for an EV that meets sourcing rules.
Charging Costs in North Carolina for Popular Electric Vehicles
Now let‘s examine what charging costs shake out to based on battery sizes for some of today‘s top-selling EV models:
Ford F-150 Lightning
Ford‘s electric pickup provides the capability expected from America‘s best-selling vehicle line with a lower environmental impact.
| Trim | Battery (kWh) | Range (mi) | Home Charge (@10c/kWh) | Fast Charge (30c/kWh) |
|---|---|---|---|---|
| Standard Range | 98 | 230 | $9.80 | $29.40 |
| Extended Range | 131 | 320 | $13.10 | $39.30 |
The Lightning justifies a premium price with vast potential for powering worksites or your home during outages thanks to available Pro Power Onboard and the mega power frunk.
Tesla Model Y
The Model Y takes Tesla into the red-hot compact SUV segment with seating for 7 and top-class range.
| Trim | Battery (kWh) | Range (mi) | Home Charge (@12c/kWh) | Supercharge (25c/kWh) |
|---|---|---|---|---|
| Long Range | 82 | 330 | $9.84 | $20.50 |
| Performance | 92 | 303 | $11.04 | $23.00 |
With Tesla‘s exclusive access to the nationwide Supercharger network offering some of the fastest DC fast charging available, range anxiety fades thanks to always having abundant top-off locations.
Kia EV6
The EV6 brings 800-volt "hypercharging" allowing adding 210 miles in just 15 minutes along with lively performance.
| Trim | Battery (kWh) | Range (mi) | Home Charge (@12c/kWh) | Fast Charge (30c/kWh) |
|---|---|---|---|---|
| Light | 58 | 232 | $6.96 | $17.40 |
| Wind | 77 | 310 | $9.24 | $23.10 |
Note the EV6 qualifies for the full $7,500 federal tax credit thanks to domestic assembly in Georgia.
Clearly today‘s EVs make refueling at home for a fraction the gas equivalent easy. And with public networks expanding quickly across North Carolina offering fast charging options for all connector types during trips, eliminating range anxiety gets easier by the year.
Where To Buy an EV in North Carolina
While their selections still represent a fraction of overall dealer inventories dominated by gas models, most major auto manufacturers now offer electric options as demand grows from eco-conscious buyers.
In North Carolina, here are some of your top options to shop for available EV models:
- Tesla Showrooms – Locations in Raleigh and Charlotte allow test drives along with delivery coordination for their lineup including the domestically made Model 3, Model Y, Model S and Model X.
- Major Brand Dealers – Most now integrate at least 1 or 2 EV options on their lot from makes like Ford, Hyundai, and Volkswagen alongside traditional gas vehicles – check their websites to confirm available inventory.
- Carvana/Vroom – Online sales networks give you flexibility finding exactly the EV you want regardless of geography – new or used – with home delivery.
Given still-limited EV production capacity from most automakers, checking ahead that the dealer has the specific model you want on their lot or en route for upcoming deliveries avoids disappointment. Test driving first is highly recommended given variations in acceleration, tech interfaces, charging times and other factors impacting ownership between EVs.
The Electric Vehicle Outlook for North Carolina
If the available EV options still feel limited today, exciting growth lies ahead over this decade as both government collaborations and automaker investments take shape across North Carolina.
Just some of the major developments in the works:
-
Hyundai chose the state for its first dedicated US EV plant with production on track to start in 2025. Over $5 billion getting invested in machine tools and facilities tailored specifically to churning out EVs at high volumes.
-
Drive Electric NC represents a partnership of Duke Energy, Advanced Energy, electric cooperatives and other stakeholders promoting EV education plus infrastructure expansion through statewide events and awareness campaigns.
-
Duke Energy launched the six-year REV UP NC pilot committing over $76 million towards customer charging rebates, residential time-of-use rates and doubling public charging ports available across North Carolina.
So while North Carolina doesn‘t yet match West Coast states like California for total EV adoption rates, the stage is set through public and private actions to foster immense growth through this decade. As battery supply constraints ease and more models become available, owning an EV even with just the existing charging network gets easier by the year.
I hope this guide has given you a comprehensive picture of the incentives, total costs, options and future outlook around electric vehicle ownership in North Carolina! Let me know if any other questions come up during your shopping process.
