EV Savings Calculator
Calculate how much you save driving an EV vs a gas car. Compare annual fuel costs, 5-year TCO, break-even year, and CO2 savings.
mi
$
mpg
$
mi/kWh
Annual Gas Cost
—
Annual Electricity Cost —
Annual Savings —
5-Year Fuel Savings —
Extended More scenarios, charts & detailed breakdown ▾
mi
$
mpg
$
mi/kWh
Annual Gas Cost
—
Annual Electricity Cost —
Annual Savings with EV —
Gas Cost per Mile —
EV Cost per Mile —
Professional Full parameters & maximum detail ▾
mi
$
mpg
$
$
%
mi/kWh
%
$
$
$
Annual Fuel Costs
Annual Gas Cost —
Annual EV Charging Cost (blended) —
Annual Fuel Savings —
Long-Term Analysis
Net EV Cost (after credit) —
Break-Even Year —
10-Year Gas Car Fuel Cost —
10-Year EV Fuel Cost —
10-Year Fuel Savings —
Efficiency & Environment
EV Efficiency at Year 5 —
CO2 Saved per Year (kg) —
How to Use This Calculator
- Enter your annual miles driven and current gas price.
- Enter your current car's MPG and your local electricity rate.
- Set the EV efficiency (most cars: 3-4 mi/kWh).
- See annual gas cost, EV charging cost, and annual savings instantly.
Formula
Annual Gas Cost = (Miles / MPG) × Gas Price
Annual EV Cost = (Miles / Efficiency) × kWh Rate
Annual Savings = Gas Cost − EV Cost
CO2 Saved = (Miles/MPG × 8.887) − (Miles/Eff × 0.386) kg
Annual EV Cost = (Miles / Efficiency) × kWh Rate
Annual Savings = Gas Cost − EV Cost
CO2 Saved = (Miles/MPG × 8.887) − (Miles/Eff × 0.386) kg
Example
Example: 12,000 miles/yr, $3.50/gal, 30 MPG, $0.13/kWh, 3.5 mi/kWh.
Gas: $1,400/yr | EV: $445/yr | Savings: $955/yr
Gas: $1,400/yr | EV: $445/yr | Savings: $955/yr
Frequently Asked Questions
- At average US rates ($3.50/gal gas, $0.13/kWh electricity), driving an EV costs about 3–4 cents per mile vs 10–15 cents per mile for a 30 MPG gas car — roughly 60-75% cheaper per mile.
- Most modern EVs get 3-4 miles per kWh. A Tesla Model 3 gets about 4.2 mi/kWh, a Chevy Bolt about 3.5 mi/kWh, and larger SUV-style EVs typically get 2.5-3.5 mi/kWh.
- As of 2024, new qualifying EVs may receive up to $7,500 federal tax credit. Used EVs may qualify for up to $4,000. Income limits and vehicle price caps apply.
- EVs have fewer moving parts — no oil changes, fewer brake replacements (regenerative braking), no transmission service. Average annual maintenance savings are $600-$1,000 vs a comparable gas car.
- With typical incentives and fuel savings, most EV buyers break even in 3-6 years. High-mileage drivers break even faster. Use the 5-Year Cost tab to model your specific situation.