Why Convert?
Using petroleum as our sole transportation fuel
is not a sustainable. The summer of 2010
brought home very clearly the risks of drilling for
oil as the Deepwater Horizon blew it’s top. We
are experiencing increased weather activity and
patterns not seen in hundreds of years. Our
use of petroleum fuels and the industrial age
appears to be contributing to these weather
patterns. An increase in oil prices will motivate
the alternative energy markets. A recent study
indicated that people are holding onto their cars
longer and looking for ways to economize.
According to the Standards and Poors' Industry
Trends, the average age of cars in the US is
now 10.6 years. They attribute this aging trend
to the effect of the 2009 recession. It’s quite
likely the lower gasoline prices are because
OPEC is driving down the price of oil in hopes
of breaking the shale oil industry. North
Dakota’s Bakken oil formation region is
suffering from
unemployment
and excess
housing as the
hydrualic
fracking is
coming to a halt.
$50 a barrel is
the price needed
to make fracking
profitable.
Cost savings of conversions comes from the
difference in the cost of gasoline and electrical
power. Taking the average gallon of gasoline
price for Minnesota of $2.222 with an average
fuel economy of 25 mpg, we are paying
$0.088/mile to drive a gasoline powered
vehicle. Electric vehicle operation averages
$0.015/mile. With a kWH cost of $0.03015 for
off peak rates and given a 26kW battery pack
charged to 90% (state-of-charge was 10%
when the charge started), the cost of that
charge is $0.06271 now factor in the range of
the battery pack. Our current build, ‘66 Corvair,
has been calculated to achieve 260 watts/mile.
That’s 80% usage of our 26kW pack driving 80
miles. Assuming the national average commute
of 40 miles per day and an additonal 100 miles
on the weekend, we’ll use 300 miles/week as
the benchmark.
At 15,600 miles driven per year the cost of
operating an EV is 15,600*200 or 3,120kW
used, costing $94.068/year. The same
calculation using gasoline at $0.088/mile
amounts to $1,372.00/year.
Total yearly savings of *$1,278.73 in fuel costs
alone. This assumes the car is charged from
the grid. When we take into account oil
changes, which will not be needed anymore
and reduced maintenance costs, we have
calculated that the customer will break even on
the cost of the conversion at approximately 6
years. One other consideration is the life
expectancy of the LiFePO4 battery pack. The
batteries are rated at 3,000 cycles, a cycle is
one dis-charge and re-charge. If you drove the
15,600 mile/year re-charging every 80 miles for
6 years, that’s a total of 1,170 cycles of the
3,000 this still leaves 61% of the life
expectancy of your pack or 9 more years of
pack life to go. As of Nov. 2015, the price of
crude oil is near a 10 year low and it’s safe to
say the Saudi’s are not going to hold the price
down much longer. Let’s use pricing from the
Summer of ‘08 when crude was at $147 a
barrel and gasoline was $4.00/gal., the
conversion payback would then be 3.3 years.
*Estimated yearly savings figure of $2.000 was used
to take into account for reduced maintenance savings.