Electric Vehicle Gas Savings Calculator
Estimate your potential savings by switching from a gasoline-powered car to an electric vehicle (EV). Enter your driving habits and local costs to see a personalized comparison.
Your Driving Habits
Gasoline Vehicle Details
Electric Vehicle (EV) Details
$0
| Period | Savings |
|---|---|
| Weekly | $0.00 |
| Monthly | $0.00 |
| Annually | $0.00 |
| Over 5 Years | $0.00 |
What is an electric vehicle gas savings calculator?
An electric vehicle (EV) gas savings calculator is a tool designed to help you compare the estimated fuel costs of driving an electric car versus a traditional gasoline-powered car. By inputting your specific driving distance, vehicle efficiencies, and local energy prices, the calculator provides a clear financial picture of how much money you could save on an annual basis by switching to an EV. This tool is for prospective EV buyers, current EV owners curious about their savings, or anyone interested in the financial benefits of electric transportation.
Electric Vehicle Gas Savings Formula and Explanation
The calculation is based on a straightforward comparison of the annual cost to fuel each type of vehicle. The savings are the difference between these two amounts.
- Annual Miles Driven: First, we determine your total annual mileage based on your input.
- Gas Vehicle Annual Cost: This is calculated using the formula:
(Annual Miles / Gas MPG) * Price per Gallon - Electric Vehicle Annual Cost: This is calculated using the formula:
(Annual Miles / EV miles/kWh) * Price per kWh - Total Savings: The final savings amount is:
Gas Vehicle Cost - Electric Vehicle Cost
Variables Table
| Variable | Meaning | Unit | Typical Range |
|---|---|---|---|
| Miles Driven | The total distance you drive in a period. | miles/year | 5,000 – 30,000 |
| Gas MPG | A gas car’s fuel efficiency. | miles/gallon | 15 – 50 |
| Gas Price | The cost of one gallon of gasoline. | $/gallon | $2.50 – $5.50 |
| EV Efficiency | An EV’s energy consumption. | miles/kWh | 2.5 – 5.0 |
| Electricity Price | The cost of one kilowatt-hour of electricity. | $/kWh | $0.10 – $0.40 |
Practical Examples
Example 1: Average Commuter
A user drives the national average of 13,500 miles per year. Their gas car gets 25 MPG, and gas costs $3.50/gallon. The EV they are considering gets 3.5 miles/kWh, and their electricity costs $0.17/kWh.
- Gas Cost: (13,500 / 25) * $3.50 = $1,890 per year
- EV Cost: (13,500 / 3.5) * $0.17 = $655.71 per year
- Annual Savings: $1,890 – $655.71 = $1,234.29
Example 2: High Mileage Driver in a High-Cost Area
A user drives 20,000 miles per year. Their inefficient SUV gets only 18 MPG, and gas costs $4.50/gallon. The efficient EV they are eyeing gets 4.0 miles/kWh, but their electricity is more expensive at $0.25/kWh.
- Gas Cost: (20,000 / 18) * $4.50 = $5,000 per year
- EV Cost: (20,000 / 4.0) * $0.25 = $1,250 per year
- Annual Savings: $5,000 – $1,250 = $3,750
How to Use This Electric Vehicle Gas Savings Calculator
- Enter Your Driving Distance: Start by inputting the number of miles you drive and select whether that number is per day, month, or year. The calculator will automatically convert this to an annual figure.
- Input Gasoline Car Details: Provide the fuel efficiency (MPG) of your current or a comparable gas car, along with the local price per gallon of gasoline.
- Input Electric Car Details: Enter the efficiency of the EV you’re considering in miles per kWh. You can find this information on the manufacturer’s website or through reviews. Also, enter your cost for electricity per kWh from your utility bill.
- Review Your Savings: The calculator will instantly display your estimated annual savings, the annual cost for each vehicle, a visual chart, and a breakdown of savings over different time periods.
- Reset if Needed: Use the “Reset” button to return all fields to their default values for a new calculation.
Key Factors That Affect Electric Vehicle Gas Savings
- Driving Distance: The more you drive, the more you stand to save. High-mileage drivers see the financial benefits of an EV much faster.
- Gasoline Prices: Higher gas prices directly increase the cost of driving a conventional car, making the savings from an EV more significant.
- Electricity Rates: The cost of charging your EV depends on your local utility rates. Charging at home during off-peak hours can further reduce costs and increase your savings.
- Vehicle Efficiency (Both MPG and mi/kWh): An inefficient gas guzzler will show greater savings when compared to an efficient EV. Conversely, comparing a hybrid car to an EV will yield smaller savings.
- Charging Habits: Relying on public DC fast-charging is significantly more expensive than charging at home. Maximum savings are achieved when the majority of charging is done at a low residential rate.
- Driving Style and Conditions: Aggressive driving, extreme temperatures (hot or cold), and carrying heavy loads will reduce the efficiency of both gas and electric vehicles, affecting overall costs. For more information, you might want to look into how to calculate EV range.
Frequently Asked Questions (FAQ)
1. Are the savings shown guaranteed?
No. This calculator provides an estimate based on the values you provide. Real-world savings can vary based on fluctuations in fuel prices, driving conditions, and vehicle performance. Think of it as a financial planning tool for your vehicle.
2. Does this calculator include maintenance costs?
No, this tool focuses strictly on fuel savings. However, EVs typically have lower maintenance costs as they don’t require oil changes, spark plugs, or exhaust system repairs, which can add to your total savings. Check our guide on total cost of EV ownership.
3. What if I do most of my charging at public stations?
You should adjust the “Electricity Price ($ per kWh)” to reflect the average cost of public charging. This is often 2-4 times higher than residential rates and will reduce your estimated savings.
4. What is a “good” efficiency in miles per kWh?
An efficiency of 3.5 to 4.5 mi/kWh is considered very good for modern EVs. Larger vehicles like trucks and SUVs will be on the lower end (2.5-3.5 mi/kWh), while smaller, aerodynamic sedans will be on the higher end.
5. How can I find my electricity rate?
Look at your monthly electricity bill from your utility provider. It should list the cost per kilowatt-hour (kWh). Some utilities have different rates for “off-peak” hours, which are typically overnight.
6. Does the outside temperature affect my savings?
Yes. In very cold or hot weather, an EV’s battery is less efficient and will use energy to heat or cool the cabin, reducing its range and increasing your cost per mile. This calculator uses an average efficiency number.
7. Why are my savings so low?
Low savings can result from driving very few miles, having low local gas prices, or having very high electricity rates. It can also happen if you are comparing a very fuel-efficient hybrid to an EV. Try our gas mileage calculator to see your current spending.
8. Does this include the cost of installing a home charger?
No, this calculator does not factor in the one-time cost of purchasing and installing a Level 2 home charger, which can range from $500 to $2,000. Consider this a separate part of your initial investment.
Related Tools and Internal Resources
Explore other calculators and resources to help with your vehicle and financial decisions:
- Car Loan Calculator: Estimate your monthly payments for a new or used vehicle.
- EV Range Calculator: See how factors like speed and temperature affect an EV’s total range.
- {related_keywords}: Understand the complete financial picture of owning an electric car beyond just fuel.
- {related_keywords}: Compare the cost per mile for different types of vehicles.