EV Savings Calculator
Compare the cost of running an electric vehicle vs a gasoline vehicle
Savings
Monthly Savings
$718.70
Annual Savings
$8624.40
Frequently Asked Questions
Are electric vehicles really cheaper than gas cars?
In the long run, electric vehicles are typically more economical. While the initial purchase cost may be higher, operating costs (including energy and maintenance) are usually significantly lower than gas cars. Depending on usage, the extra investment can be recovered within 2-4 years.
How to calculate monthly fuel costs for gas cars?
Monthly fuel costs are calculated as: Monthly mileage × (Fuel consumption per 100 miles ÷ 100) × Current fuel price. For example, if you drive 620 miles per month with a 30 MPG vehicle and gas costs $4/gallon, the monthly cost would be: 620 × (3.3 ÷ 100) × 4 = $81.84.
How to calculate EV charging costs?
Monthly charging costs are calculated as: Monthly mileage × (Electricity consumption per 100 miles ÷ 100) × Electricity rate. For example, if you drive 620 miles per month using 34 kWh/100 miles at $0.12/kWh, the monthly cost would be: 620 × (34 ÷ 100) × 0.12 = $25.30.
What other costs should be considered besides energy?
A complete cost comparison should include: 1) Vehicle purchase price; 2) Insurance costs; 3) Annual inspection and maintenance; 4) Charging station installation; 5) Battery replacement; 6) Vehicle depreciation; 7) Parking fees.
How to calculate EV maintenance costs?
EV maintenance costs are typically 30-50% lower than gas cars. Main maintenance items include: 1) Tire replacement; 2) Cabin air filter; 3) Brake fluid check; 4) Coolant check; 5) Chassis inspection. No oil changes or filter replacements needed.
Should charging station installation costs be included?
Yes, charging station costs should be included in total ownership cost. Installation costs include: 1) Charging equipment; 2) Installation labor; 3) Electrical upgrades; 4) Possible property approval fees. Some regions offer installation subsidies.
How do battery life and replacement affect total cost?
EV batteries typically have 8-year or 100,000-mile warranty. Factors include: 1) Age; 2) Charge cycles; 3) Environment; 4) Charging habits. Budget 20-30% of vehicle cost for potential battery replacement.
How to account for time-of-use electricity rates?
For areas with time-of-use rates: 1) Calculate average rate: (Peak rate × peak charging % + Off-peak rate × off-peak charging %); 2) Use weighted average based on your charging habits; 3) Consider seasonal rate variations.
What EV incentives are available in my area?
EV incentives may include: 1) Purchase rebates; 2) Tax exemptions; 3) Charging infrastructure subsidies; 4) Preferred parking; 5) Special access privileges. Check local policies for current offers.
How to find nearby charging stations?
You can find charging stations through: 1) Dedicated charging apps; 2) Vehicle navigation system; 3) Map apps; 4) Charging network websites. Compare rates between different providers.
Is local power supply reliable?
Consider: 1) Peak usage power availability; 2) Seasonal restrictions; 3) Emergency power measures; 4) Charging infrastructure capacity. Check power reliability at home and frequent destinations before purchase.
How do charging costs vary by season?
Seasonal charging cost variations are affected by: 1) Seasonal electricity rates; 2) Peak usage differences; 3) Weather impact on battery efficiency; 4) Additional consumption from climate control. Calculate costs separately for different seasons.