Gas vs. Electric Vehicle Savings Calculator

How to calculate Gas vs Electric Vehicle Savings Calculator?

Compare lifetime ownership costs by summing purchase price, energy (fuel or electricity) costs, and maintenance over the vehicle lifespan to estimate net savings when choosing an electric vehicle.

Key formula: Total Lifetime Cost = Purchase Price + Lifetime Energy Cost + Lifetime Maintenance Cost

Using the Gas vs Electric Vehicle Savings Calculator calculator: an example

Example values: Gas car $30,000, 25 MPG, gas $3.50/gal; EV $40,000, 300 Wh/mile (0.300 kWh/mile), electricity $0.15/kWh; 12,000 miles/year; 10-year life.

Step-by-step calculation:

• Annual gas fuel cost = (12,000 miles ÷ 25 MPG) × $3.50 = 480 gal × $3.50 = $1,680 per year.
• Annual EV energy cost = 12,000 miles × 0.300 kWh/mile = 3,600 kWh × $0.15 = $540 per year.
• Fuel savings over 10 years (no escalation) = ($1,680 − $540) × 10 = $11,400.
• Include maintenance and purchase difference: maintenance savings = ($800 − $500) × 10 = $3,000; price premium = $40,000 − $30,000 = $10,000; net EV savings ≈ $11,400 + $3,000 − $10,000 = $4,400.

Frequently Asked Questions

Does this calculator account for battery replacement?

Battery replacement is not modeled separately; you can include an estimated battery cost by adding it to the EV purchase price or as an additional maintenance expense.

Are future fuel and electricity price increases included?

Yes. Use the annual price increase rate to project future fuel and electricity costs; the calculator compounds those increases across the vehicle lifespan.

Should I include incentives and tax credits?

Yes. Subtract any purchase incentives or tax credits from the EV purchase price to reflect the net cost when comparing lifetime expenses.