Henrietta Burroughs of East Palo Alto bought a 2017 all-electric Chevy Bolt to replace her 1991 Dodge Dynasty. Her son and daughter also own electric vehicles. “We’re an EV family,” she said. Henrietta Burroughs was so deeply devoted to her 1991 Dodge Dynasty that she saved its floor mats to honor the car’s two decades of service.
But a price war is sweeping the EV industry, led by Tesla, causing a surge in the supply of used electric vehicles — so prices have plummeted.“Stacked” incentives, as well as lower maintenance, help reduce the cost still further. Electricity is cheaper than gas. And income-qualified residents can drive solo in carpool lanes and get discounts at tolls.
Max Perez was only 23 years old, fresh out of UC Santa Cruz, when he bought his blue 2017 Chevy Bolt. He made a down-payment using his college savings, then applied for Alameda Municipal Power’s $1,800 rebate to install a charger at his rental home. His main motivation was to fight climate change, said Perez, who works as a consultant for a solid waste management business. “But it was a great value.”
In addition to the car, there’s the cost of an at-home EV charger that starts at about $500, and installation, which may cost an additional $1,000 to $2,000. Many electric utilities and cities provide rebates for this equipment.
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