Gas prices are breaking records. You might think you can save some money by switching to an electric vehicle right now. But that may not be the case.

“It’s probably too early to tell at this point,” says Zac Elliot, Electrification Portfolio Lead with AES Indiana, “but with current gas prices, people could expect to save two to three-thousand dollars a year on gasoline costs alone, if they switch to an electric vehicle.”

But making that switch is not something that should be done at the snap of a finger. Elliot says it’s a long term process, and there’s much to consider: electric vehicle cost, supply, and charging station availability. That last point is something many people point towards as the reason why they avoid electric.

“Yeah so there definitely needs to be more investment, and public charging infrastructure,” says Elliot.

AES Indiana has a map that displays available charging stations across the state. Many reasonably sized cities and towns have plenty of charging stations to spare, but those stations become harder to find the further you travel into the country.

With that being said, Elliot says that long term commitment to an electric vehicle will save you some cash.

Elliot explains, “so you’re not just looking at gasoline savings but there’s also significant savings on the maintenance side, when you own an electric car. So with your traditional internal combustion engine vehicles, you’ve got a lot of moving parts. With electric cars, there’s fewer parts to break, fewer parts to maintain.”

Elliot also pointed out that AES Indiana has some financial options to consider when flirting with the idea of getting an electric vehicle.​