There are currently federal and state incentives for the purchase of qualifying EVs. These incentives together can reduce the cost of an EV by upwards of $10,000. There are also incentives for purchasing charging stations. For more information, visit the Incentives page.
The cost of charging an EV is significantly less expensive than the equivalent cost of gasoline. Consider the following example from Ameren Illinois' recent EV assessment report filed with the Illinois Commerce Commission. A conventional vehicle getting 27.5 mpg and traveling 600 miles per month will cost the owner about $800 a year (assuming gasoline at $3.00/gallon). However, an Ameren customer would expect to pay between $60 to $160 (dependent on the rate plan) in electric costs for the same distance.