EV vs. Gas Total Cost of Ownership
Project the lifetime spend for an EV versus a comparable gasoline car. Enter purchase prices, driving habits, and optional energy, maintenance, incentive, and resale assumptions to see total ownership cost and the savings or premium.
Examples
- $52,000 EV, $38,000 gas car, 12,000 miles/year, 5 years, $0.14/kWh, 28 kWh/100 mi, $3.90/gal, 30 mpg, $350 EV maintenance, $850 gas maintenance, $7,500 incentive ⇒ EV 5-year cost: $48,602.00. Gas 5-year cost: $50,050.00. Estimated EV savings: $1,448.00.
- $47,000 EV, $31,000 gas car, 8,000 miles/year, 4 years, defaults for optional fields ⇒ EV 4-year cost: $50,048.00. Gas 4-year cost: $38,600.00. Estimated EV premium: $11,448.00.
FAQ
How do incentives affect the comparison?
Incentives reduce the EV purchase price upfront. Enter the combined federal, state, or utility rebates you expect to claim so they are deducted from the EV total.
Can I include public charging or home solar energy?
Yes. Adjust the electricity rate to reflect the blended cost of your charging mix, or model solar by reducing the rate toward your marginal production cost.
What if I lease instead of buy?
Treat the capital cost inputs as the total lease payments due over the period and skip resale values, or run the numbers separately for each lease option.
Additional Information
- Annual fuel cost multiplies yearly miles by the relevant efficiency figure and energy price over the ownership period.
- Maintenance inputs capture routine service, tyres, and consumables; warranties or service plans can reduce these amounts.
- Resale values are subtracted at the end of the horizon to reflect retained equity in each vehicle.