Ameren Missouri EV Newsletter - Summer 2024
Ameren Missouri EV Newsletter - Summer 2024
A More Budget-Friendly "Fuel"
Gas prices can be unpredictable because they depend on the cost of crude oil, which is influenced by many factors. These factors are beyond our control and can greatly impact our finances. We often have no choice but to pay the price at the pump because we need to drive to work, school, the grocery store, and other places.
Many Americans can remember when gas used to be cheaper. The cost of gas has gone up a lot over the years, and it can even change a lot from month to month. Did you know that gas prices have already risen by 50 cents since January 2024 according to the U.S. Energy Information Administration? These big price changes can make it hard for families to plan how much they'll spend on gas each week, month, or year.
Electric vehicles (EVs) offer a way to avoid the ups and downs of gas prices. Electricity costs and availability are more predictable than gas. According to a study by the Edison Electric Institute, electricity prices have stayed relatively steady over the years, unlike gas prices. While the cost of oil and natural gas can change a lot, electricity is a reliable fuel option.
Driving an EV gives you more control over your fuel costs. Charging your car at home costs about the same as $1 per gallon of gas, and using a public fast charger costs about $10-$14 for an 80% charge – a lot less than filling up a gas tank. Signing up for a special rate and charging your vehicle overnight can save even more money. The savings stack even further by opting-in to one of Ameren Missouri’s rate options and scheduling the vehicle to charge between 10 p.m. and 7 a.m. When did you last pay less than $30 for a full tank?
EV Insights
Simple & Convenient: Charging Your Vehicle at Home
Charging your electric vehicle (EV) at home has transformed the driving experience, providing convenience and efficiency. With home charging, you have the ability to power up your vehicle while you sleep, saving you time and making the transition to driving electric smooth and convenient.
Imagine that every morning as you leave for work, your vehicle always has a full ‘tank’, eliminating the rushed gas station stops and morning panic. Charging your EV overnight allows drivers to ‘set it and forget it.’ By utilizing new tech features, you can automate when your vehicle is set to stop charging, preserving your vehicle's battery life and eliminating extra costs on your utility bill. Furthermore, Ameren Missouri is partnering with Rainforest Automation to provide a guided charging program. This new platform will provide users with a mobile app to access real-time information and control over their vehicle as it’s charging, ensuring vehicles are charged when needed while minimizing the impact on the grid!
In addition to convenience, home charging also offers significant cost savings. Charging at home is equivalent to paying only $1 per gallon of gas, compared to the average $3.20 per gallon of traditional fuel. Moreover, EV drivers can save even more by signing up for one of Ameren Missouri’s rate options and charging overnight, allowing drivers to pay even less.
All of these benefits are available to all EV drivers at no extra cost with the Level 1 charger that comes standard with every EV. Level 1 chargers provide about 4 miles of range per hour and plug directly into a standard wall outlet. Depending on your lifestyle and driving habits, this may be sufficient for you and is a great option for many PHEV owners.
If you need a faster charge, consider upgrading to a Level 2 charger which provides about 25 miles of range per hour and is eligible for the Federal Tax Credit of up to $1,000. Ameren Missouri offers a wide range of resources to help guide you through the process, including connecting you with qualified contractors and electricians through our Electric Vehicle Partner (EVP) Network.
The simplicity and convenience of charging at home is just one of the many benefits of driving an EV.
Missouri Charging Installation Update
In recent years, Missouri has witnessed a significant surge in the installation of Electric Vehicle (EV) charging infrastructure, reflecting the state's commitment to the transition of electricity as fuel.
Although 80-90% of EV charging occurs overnight at the driver’s residence, providing more public ‘on route’ chargers makes it more convenient for EV drivers to use their vehicles beyond the day-to-day commute and errand trips. The more public fast chargers, the easier it will be to use your EV for all of life’s scenarios.
Currently, there are over 2,600 public charging ports statewide and that number will only continue to increase as the state allocates the $98.9 million in funding awarded through the National Electric Vehicle Infrastructure (NEVI) program to deploy EV charging infrastructure. The five-year plan will first focus on filling gaps along interstate highways and then local and state corridors. These funds cover up to 80% of eligible project costs to install DC Fast Chargers which will make long-distance driving across the state and beyond even easier and more accessible! The Missouri Department of Transportation recently released a request for information (RFI) as the first step in allocating funds.
Whether on the road or driving around town, finding a public charging station is simple with in-vehicle navigation or using apps like PlugShare or Google Maps. With new charging infrastructure being built throughout the country, it’s becoming easier and easier for all types of drivers to consider switching to an EV.
Ask the Ameren EV Expert
Which vehicles qualify for tax credits, and how do I get that credit?
Answer: Several plug-in hybrid and battery electric vehicles are eligible for the federal tax credit, saving EV drivers up to $7,500. As the EV market continues to grow, more models will become available for the tax credit.
And with the credit now available at the point of sale with participating dealerships, it’s easier than ever to take advantage of the Federal Tax Credit. If your dealership doesn’t offer the credit at point of sale, you can always redeem it when you file for your taxes.
The following vehicles qualify for a full $7,500 tax credit:
- Acura ZDX EV
- Cadillac Lyriq
- Chevrolet Blazer EV
- Chevrolet Bolt and Bolt EUV
- Chevrolet Equinox EV
- Chrysler Pacifica Hybrid PHE
- Ford F-150 Lightning
- Honda Prologue
- Tesla Model 3 Performance
- Tesla Model X All-Wheel Drive
- Tesla Model Y Long Range
- Volkswagen ID.4
- Audi Q5 PHEV
- Ford Escape Plug-In Hybrid
- Jeep Grand Cherokee 4xe
- Jeep Wrangler 4xe
- Lincoln Corsair Grand Touring
- Nissan Leaf
- Rivian R1S and R1T
To learn more information about the eligible vehicles and how you can benefit from the tax credit, visit the Fuel Economy website.
Ameren Missouri's Charge Ahead Program
Do you, or someone you know, own a multi-family unit? There’s still some time left to take advantage of the Charge Ahead Incentive program. Apply before September 30th to save up to 50% of eligible charging installation and equipment costs covered.
EV Myths
Debunking EV Myths with KSDK
Upcoming Events
Ford's Unlimited Car Show
September 7th
Join us at the Ford's Unlimited Car Club's annual car show! All brands and models are welcome.
EV Display | Saturday, September 7th | 8:00 a.m. - 5:00 p.m.
212 Utz Lane Hazelwood, MO 63123
National Drive Electric Week
Wings-N-Wheels Fly-In Car Show
National Drive Electric Week
Wings-N-Wheels Fly-In Car Show
September 28-29th
Join us at the St. Louis Regional Airport for a weekend of excitement at the Annual Fly-In & Car Show.
EV Ride & Drive | Saturday, September 28 | 9:00 a.m. - 2:00 p.m.
EV Display | Sunday, September 29 | 9:00 a.m. - 2:00 p.m.
St. Louis Regional Airport: 8 Terminal Drive, East Alton, IL, 62024