While the United States is investing heavily in electric vehicles, Kentucky is falling behind. Northern Kentucky alone has only two charging stations.
One is at the Covington Hotel, 638 Madison Ave., and the other is at the Meijer parking lot in Florence, 4990 Houston Road.
In Kentucky, 0.26% of vehicles are electric. For 10,000 vehicles, there is an alternative fuel station and three electric charging stations.
Looking at the number of electric vehicles, charging stations, alternative fuel stations and incentives for electric vehicles in each state, it was found that California leads the way with 40% of all electric vehicles on the road, 33% of all charging stations and almost three times more. more electric vehicles than any other state.
The lowest ranked states in terms of adopting electric vehicle trends were Louisiana, Kentucky, Alabama and other southern states.
Some of the concerns that make consumers shy away from electric vehicles are things like insurance.
The average cost of car insurance for a new electric car is $240 per month. Prices range from $189 per month for a Nissan Leaf S to $388 per month for an Audi Q4 e-tron.
While vehicle price or value is important to insurance companies, they also analyze accident frequency or repair costs for each model to determine which cars are riskier or more expensive to insure.
The Audi Q4 e-tron, with a manufacturer’s suggested retail price (MSRP) of $48,800, is the most expensive electric car to buy and insure. Even though the Hyundai Kona is the cheapest to insure, its MSRP of $39,900 makes it more expensive than the Nissan Leaf, $27,800, and the Chevy Bolt, $32,495.
Most insurance companies that sell auto insurance for gas-powered vehicles also offer insurance for electric vehicles.
Tesla Insurance is also available to Tesla owners by accessing information about how you drive right from your vehicle and giving you a discount if you achieve or maintain a high enough “safety score.”
Progressive costs an average of $185 per month to insure an electric car and GEICO $190 per month.
So, do electric vehicles cost more to insure?
As more and more people drive an electric vehicle, the numbers become more comparable to those of a gas-powered vehicle. If all other rate factors are the same, a vehicle’s value plays a bigger role in determining its cost of insurance than its fuel score.
For a Hyundai Kona SEL, the annual insurance rate for the electric vehicle was $2,269 while its comparable gasoline-powered counterpart was $2,265. For a Kia Niro EV EX, the annual insurance rate was $2,334 and its comparable counterpart was $2,295.
The exception is the Audi Q4 e-tron which costs around $1,200 more per year to insure than an Audi Q5, its closest sibling in the automaker’s family.
There are currently 47 federal incentives for buying electric cars, including grants, tax breaks, loans and leases, rebates, credits, exemptions and other programs across the country.
States that offer more incentives for electric vehicles generally have better adoption rates.