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What Is the Value Of Electric Car Convenience?

It turns out that we are willing to pay big bucks for substantial improvement in the usability of electric cars. Well, at least as far as charging is concerned.

As the charge time for a 50 mile range electric car drops from 10 to 5 hours, consumers were found to be offering about $427 per hour that is gained. Between a time of 5 to 2 hours, consumers offer $930 per hour and a staggering $3250 per hour when the required time drops from 1 hour to 10 minutes.

Each mile of the total driving range between 0 and 200 miles is generally valued at $75 per mile and at $35 between 200 and 300 miles. However, that number does not necessarily indicate the acceptable price tag of an electric car - it relates to the discount people are expecting when compared to a regular gasoline gar. For example, if they are comparing a gasoline-driven car with a 300 mile range to an electric car with a 200 mile range, consumers are currently expecting a $3500 lower price for the electric version (if everything else is the same.)

In a recently published University of Delaware study, researchers found that 9% of about 500 monitored cars never exceeded a distance of 100 miles per day. The number would increase to 32%, if drivers who exceed the 100 mile range up to six times a year are willing to borrow a gasoline car for those instances.