Get the facts on electric cars

The latest breaking updates, delivered straight to your email inbox.

Located in Pittsburgh, CorePower Magnetics is working to make lightweight motors, inductors, and transformers that allow electric vehicles to go farther and charge faster.

"Our technology allows for helping to overcome some of the key challenges with electric vehicles today," said Paul Ohodnicki, CorePower Magnetics' chief technology officer.

Ohodnicki says some of those challenges include identifying sites for charging and having a limited range of electric vehicles.

"The more robust the charging network, the more inexpensive the charging network and the more convenient the charging experience, the more likely you're going to have consumers make the choice," Ohodnicki said. "And the easier the choice, the more EVs you're going to have out in the in the in the world."

Duquesne Light says the number of public charging stations is going to grow rapidly in the coming years to meet the demand.

"So right now, there are more than 600 public charging station ports in the Pittsburgh region, and that number will continue to grow," said Matt McDonald, the senior associate of transportation electrification at Duquesne Light.

An example of that is in Oakmont, where the borough partnered with Duquesne Light to install a charging station.

The borough is also working to electrify its fleet of vehicles hoping to reap the benefits of going electric.

"You're going to save on charging your electric vehicle as compared to fueling up a gas-powered vehicle," McDonald said. "And you're also going to save on maintenance. Electric vehicles have fewer moving parts, so there's not as much that you have to maintain. No oil changes, reduce brake wear."

So how much does it cost to get an EV?

"There's now some vehicles that have gotten below $30,000 in price, still relatively expensive, but we're seeing a lot of improvement there overall," said Sam Kernion, CorePower Magnetic's CEO.

Kernion says prices for EVs are starting to drop, but for a high-performance vehicle, you will see still see things for $50,000 into the $100,000 mark.

"There was an interesting study that just came out from Car and Driver where they compared how the Ford F-150 and the Hyundai Kona, which have a gas and an EV version, compare, and they showed that you actually have a three-year time period just about where you see the break-even point," said Kernion.

So about three years to break even on your purchase, and that's not including the tax credits you may be able to get when you buy an electric vehicle.

Each vehicle has a different type of incentive plan depending on those parts that are used, as well as how long the vehicle has been in the market," Kernion said. "So those tax credits only apply to a certain number of vehicles sold."

It can get a bit complicated trying to figure out how much your tax credit could be and how to claim it Kernion says a car dealership can always help with that.

Another great online resource is this one-pager from U.S. Sen. Bob Casey that breaks down how Pennsylvanians can claim new tax credits and rebates through the Inflation Reduction Act, which rewards Americans for investing in "clean energy" products.

Click here for more information.