Electric vehicles are becoming more economically competitive with their gas-fueled counterparts and people are feeling less “range anxiety” about how far they can get on a charge, according to new research by AAA.

Driving a compact electric vehicle over five years and 75,000 miles will cost a person only slightly more — about $600 annually — than a gas-powered vehicle, according to the report released Wednesday. The study also showed that concerns about running out of power on a trip ease significantly once a person buys an electric car.