Why Holiday 2023 is the Right Time to Buy an EV

November 21st, 2023 by

The holidays are on our doorstep and car buyers are asking “Is now the right time to buy an Electric Vehicle?” The advancements in EV technology and state incentives are improving every year. For residents in South Carolina asking this question, the answer is an easy one. Yes, now IS the right time to enter the world of EVs.  Let’s break down some of the reasons why becoming an EV owner going into 2024 is a great idea.

South Carolina is making an investment and a strong commitment to becoming and EV-friendly state. Things like increased charging signage and parking exclusivity, workplace incentivization for using fleet EVs, and a locator app for public charging stations make taking an EV around the Palmetto state much easier than it was a year ago.

PLUGinSC is the state initiative to support the adoption of EV charging stations publicly around South Carolina. This comes primarily from increased signage and parking designation efforts. Signage must follow federal guidelines, ensuring drivers can learn and understand a universal language indicating where they can take their EV to access parking spots with chargers. Green pavement markings will also be used to outline EV charging spaces. EV charging spots will also be marked with “no parking except electric vehicles” signage to ensure owners aren’t blocked from accessing proper parking.

Finally, the initiative aims to provide labels for parking garages that indicate which level EV charging is located. This should lead to an excellent user experience for EV owners traveling throughout the state.

Making the shift to a vehicle that runs exclusively on a very large, heavy, and powerful battery has been a daunting prospect for many buyers in past years. Many people have wondered if it’s worth investing in a vehicle that will have such an expensive battery replacement if the battery itself only lasts around 5 years.

Luckily, EV battery technology has been advancing rapidly. Predictive modeling by the National Renewable Energy Lab shows that today’s EV batteries last between 12 to 15 years in moderate climates. This is a key improvement that shows that Electric Vehicle technology has moved out of the “early-adopter” phase where the tech is ready for average consumers, not just enthusiasts.

One hurdle that people have faced in deciding to purchase an EV has been the availability of charging stations on road trips. This is also something that has improved greatly recently. Additionally, it is now easier to locate and identify charging stations while on the go.

The U.S. Department of Energy hosts an alternative fuels data center web page where users can plug in their location or view a nationwide map of charging stations. Additionally, you can view specific fuel corridors to plan your most effective route based on charge station availability.

The Department of Energy has also released a mobile app, available on iOS and Android that provides the same functionality.

For customers looking for special incentives to buy into the EV world, Santee Cooper is providing rebates to residents who purchase and install an EV charging station. Purchases of a level 2 charging station from a wide variety of qualifying brands will get you a $250 rebate from Santee Cooper, after submitting a rebate application.

The IRS is also offering credits to buyers of Electric Vehicles, provided the car meets certain guidelines. Owners will need to file a specific form (8936) when submitting their tax returns. The credit amount ranges from $2,500 to $7,500 based on how many required criteria the vehicle meets. All of the qualifications and requirements can be found here.

Kia Country of Charleston is currently taking reservations of the upcoming 3-row electric SUV, the EV9. If you make a reservation request during the eligible period, ending next week (Nov 27), you will be eligible to receive an EV Home Charger when you make the final purchase or lease of your EV9. You will also receive a 1,000 kilowatt-hours EV charging credit valid at participating Electrify America stations, which can be used on all 2024 Kia EV model vehicles.