About the EV vs. Gas Cost Calculator
Electric cars usually cost far less per mile to power, but can cost more upfront. This compares yearly charging cost to yearly fuel cost and, with a price premium, shows the year the EV pays back the difference.
How it’s calculated
Gas yearly = miles ÷ mpg × gas price. EV yearly = miles ÷ miles-per-kWh × electricity price. Break-even year = price premium ÷ annual savings.
Example calculation
Driving 12,000 miles a year, a 28-mpg gas car burns about $1,500 in fuel while an efficient EV uses roughly $580 in electricity — about $920 saved per year.
Frequently asked questions
Does this include the higher EV price?
Only if you enter a price premium. When you do, the chart shows cumulative cost including that upfront gap, and the break-even year is when cheaper charging has paid it back.
What about public charging?
This uses one electricity price, best suited to home charging. Frequent DC fast-charging costs more per kWh, so raise the electricity price to reflect it.
This tool provides estimates for general informational and educational purposes only. Results are based on the values you enter and standard formulas, and may not reflect your specific circumstances.