EV vs Gas Savings Calculator
mi
mpg
$/gal
mi/kWh
$/kWh
$
Annual Savings$885.71
Gas Cost / Year$1,400.00
EV Cost / Year$514.29
Breakeven on Premium9.03 yrs
Electric cars usually cost more to buy but far less to fuel than gasoline cars. This calculator puts the two side by side: it works out what you would spend per year on gasoline versus electricity for the same driving, shows the annual savings, and — if you enter how much more the EV costs up front — tells you how many years of fuel savings it takes to break even.
Formula
gas = miles/mpg × gasPrice; ev = miles/(mi per kWh) × elecPrice; savings = gas − ev; breakeven = premium / savings
- miles
- Miles driven per year
- mpg
- Gas car fuel economy in miles per gallon
- mi per kWh
- EV efficiency in miles per kilowatt-hour
- gasPrice
- Price of gasoline per gallon
- elecPrice
- Electricity price per kilowatt-hour
- premium
- How much more the EV costs to buy than the gas car
How it works
- Enter your annual mileage, the gas car’s MPG, and the local gas price to get the gasoline running cost: miles ÷ MPG × price.
- Enter the EV’s efficiency in miles per kWh and your electricity rate per kWh to get the EV running cost: miles ÷ efficiency × rate.
- Subtract the EV cost from the gas cost for annual savings, then divide any purchase-price premium by those savings to estimate the breakeven in years.
Worked example
Driving 12,000 miles a year: a 30 MPG gas car at $3.50/gal versus an EV at 3.5 mi/kWh and $0.15/kWh, with an $8,000 price premium.
- Gas cost = 12,000 ÷ 30 × $3.50 = 400 gal × $3.50 = $1,400.00 per year.
- EV cost = 12,000 ÷ 3.5 × $0.15 = 3,428.57 kWh × $0.15 = $514.29 per year.
- Annual savings = $1,400.00 − $514.29 = $885.71.
- Breakeven = $8,000 ÷ $885.71 ≈ 9.03 years.
The EV saves about $885.71 per year and pays back its $8,000 premium in roughly 9 years.
Frequently asked questions
- What is a typical EV efficiency in miles per kWh?
- Most modern electric cars achieve roughly 3 to 4 miles per kWh in mixed driving. Smaller, aerodynamic EVs can exceed 4, while large trucks and SUVs may drop to 2 to 2.5.
- Where do I find my electricity rate?
- Look at the per-kilowatt-hour rate on your utility bill. Many U.S. homes pay $0.12 to $0.20 per kWh; off-peak overnight charging plans can be significantly cheaper.
- Does this include maintenance, taxes, or incentives?
- No. The comparison covers only fuel versus electricity running costs and an optional purchase-price premium. EVs often have lower maintenance and may qualify for incentives, which would shorten the breakeven further.
- What if the savings come out negative?
- A negative result means the EV is more expensive to run under your inputs — usually from a very efficient gas car, cheap gasoline, or high electricity rates. In that case no breakeven on the premium is shown.