EV vs Gas Calculator
Compare the total cost of ownership between electric vehicles and gas cars.
Driving & Fuel Costs
Vehicle Purchase Prices
Popular EVs (Click to Load)
Annual Cost Comparison
Total Annual Savings
$1,788
Long-Term Cost Comparison (Fuel + Maintenance)
Break-Even Analysis
Environmental Impact (Annual)
Related Calculators
About This Calculator
The EV vs Gas Calculator compares the true cost of owning an electric vehicle versus a gas-powered car. Go beyond sticker price to calculate Total Cost of Ownership (TCO) including fuel costs, maintenance, insurance, and tax credits. Whether you're considering a Tesla, Ford Lightning, or any other EV, this calculator reveals which option saves you more money over your ownership period.
How to Use the EV vs Gas Calculator
- 1Enter the purchase price for both the EV and gas vehicle you are comparing.
- 2Input your annual miles driven (average American drives 13,500 miles/year).
- 3Enter your local electricity rate ($/kWh) and gas price ($/gallon).
- 4Add the vehicle efficiency: EV in miles/kWh, gas car in MPG.
- 5Include applicable EV tax credits and incentives.
- 6Set your expected ownership period in years.
- 7Compare Total Cost of Ownership side-by-side.
Formula
Total Cost of Ownership (TCO) = Purchase Price + Fuel Costs + Maintenance + Insurance - Tax Credits - Resale ValueTCO captures all ownership costs over time, not just the sticker price. EVs often have higher purchase prices but lower operating costs, which can result in lower TCO over 5-10 years.
Jar Insight: EVs Are Not New - They Are Making a Comeback
Electric vehicles dominated roads before gasoline cars existed.
The Forgotten EV Era (1880s-1910s):
- 1884: Thomas Parker built the first practical electric car in England
- 1899: Electric cars held the world land speed record (65 mph!)
- 1900: 38% of US cars were electric, 40% were steam, only 22% were gasoline
- 1901: Ferdinand Porsche created the first hybrid vehicle
- 1912: Electric cars peaked at $1,750 (about $54,000 in 2024 dollars)
Why Did Gas Win?
- 1908: Ford Model T mass production dropped gas car prices to $650
- 1912: Electric starter eliminated hand-cranking gas engines
- Texas oil discoveries made gasoline cheap
- Rural America needed range that batteries could not provide
The Numbers That Shocked Everyone: In 1900, New York City had a fleet of electric taxis. The Baker Electric could travel 100 miles on a charge - similar to early 2010s EVs!
History Repeating: Just as EVs lost to gas cars due to price and infrastructure, they are now winning back market share as:
- Battery costs dropped 89% from 2010-2023 ($1,100/kWh to $139/kWh)
- Charging infrastructure expands (60,000+ US stations)
- Gas prices remain volatile while electricity stays stable
The EV "revolution" is really an EV revival - and this time, the math favors electric.
Total Cost of Ownership Formula Breakdown
Complete TCO Calculation:
TCO = Purchase Price + (Annual Fuel × Years) + (Annual Maintenance × Years) + (Annual Insurance × Years) - Tax Credits - Resale Value
Component-by-Component:
1. Purchase Price
| Vehicle Type | Average Price (2024) |
|---|---|
| Average EV | $55,000 |
| Average Gas Car | $48,000 |
| Price Gap | $7,000 |
2. Annual Fuel Costs
- EV: (Annual Miles / Miles per kWh) × Electricity Rate
- Gas: (Annual Miles / MPG) × Gas Price per Gallon
3. Maintenance (Annual)
| Cost Type | EV | Gas Car |
|---|---|---|
| Per mile | $0.03 | $0.06 |
| 12,000 miles/year | $360 | $720 |
| 5-year total | $1,800 | $3,600 |
4. Insurance (Annual)
| Vehicle Type | Average Annual Cost |
|---|---|
| EV | $2,280 |
| Gas Car | $1,780 |
| Difference | +$500 for EV |
5. Federal Tax Credit
- Up to $7,500 for new EVs (income limits apply)
- Up to $4,000 for used EVs
- State incentives vary ($0-$7,000 additional)
6. Resale Value (5 years)
| Vehicle Type | Depreciation |
|---|---|
| EV | 40-50% |
| Gas Car | 35-45% |
EV Maintenance Savings: The Hidden Advantage
Why EVs Cost $0.03/Mile vs $0.06/Mile for Gas:
Parts EVs Do Not Have:
- No engine oil (saves $50-100/year)
- No transmission fluid
- No spark plugs
- No timing belt
- No exhaust system
- No fuel filter
- No engine air filter replacement
Parts EVs Have That Last Longer:
- Brake pads: 100,000+ miles (regenerative braking)
- Tires: Similar to gas cars (may wear faster due to weight/torque)
Real Maintenance Comparison Over 100,000 Miles:
| Service | Gas Car | EV |
|---|---|---|
| Oil changes (25) | $1,500 | $0 |
| Transmission service | $400 | $0 |
| Brake pads (2 sets) | $800 | $300 (1 set) |
| Spark plugs | $200 | $0 |
| Coolant flush | $150 | $75 |
| Air filters | $150 | $50 |
| Exhaust repairs | $300 | $0 |
| Total | $3,500 | $425 |
The Math:
- Gas: $3,500 / 100,000 miles = $0.035/mile (rounded to $0.06 with repairs)
- EV: $425 / 100,000 miles = $0.004/mile (rounded to $0.03 with battery cooling service)
Savings over 150,000 miles: ~$4,500
Electricity vs Gas: Cost Comparison at Different Prices
Cost Per Mile at Various Prices:
Assumptions:
- EV efficiency: 3.5 miles/kWh (average)
- Gas car efficiency: 30 MPG (average)
| Electricity ($/kWh) | Gas ($/gallon) | EV Cost/Mile | Gas Cost/Mile | EV Savings |
|---|---|---|---|---|
| $0.10 | $3.00 | $0.029 | $0.100 | 71% |
| $0.12 | $3.50 | $0.034 | $0.117 | 71% |
| $0.15 | $4.00 | $0.043 | $0.133 | 68% |
| $0.18 | $4.50 | $0.051 | $0.150 | 66% |
| $0.20 | $5.00 | $0.057 | $0.167 | 66% |
| $0.25 | $3.00 | $0.071 | $0.100 | 29% |
| $0.30 | $3.00 | $0.086 | $0.100 | 14% |
Key Insights:
- EVs win at almost all price combinations
- Only very cheap gas ($3) + expensive electricity ($0.30) makes gas competitive
- National average: $0.16/kWh electricity, $3.50/gallon gas
- At national average: EV costs 65% less per mile
Annual Fuel Savings (12,000 miles at national average):
- Gas car: $1,400/year
- EV: $549/year
- Annual savings: $851
Home Charging vs Public Charging:
| Charging Type | Cost per kWh | Cost per Mile |
|---|---|---|
| Home (off-peak) | $0.08-0.12 | $0.02-0.03 |
| Home (peak) | $0.15-0.25 | $0.04-0.07 |
| Public L2 | $0.20-0.35 | $0.06-0.10 |
| DC Fast Charging | $0.30-0.50 | $0.09-0.14 |
| Tesla Supercharger | $0.25-0.40 | $0.07-0.11 |
5-Year and 10-Year TCO Comparison Example
Comparison: Average EV vs Average Gas Car
Vehicle Specs:
- EV: $45,000, 3.5 mi/kWh, $0.14/kWh electricity
- Gas: $38,000, 30 MPG, $3.50/gallon
- Both: 12,000 miles/year, 5 years ownership
5-Year Total Cost of Ownership:
| Cost Category | EV | Gas Car |
|---|---|---|
| Purchase Price | $45,000 | $38,000 |
| Fuel (5 years) | $2,400 | $7,000 |
| Maintenance | $1,800 | $3,600 |
| Insurance | $11,400 | $8,900 |
| Registration/Taxes | $1,500 | $1,200 |
| Federal Tax Credit | -$7,500 | $0 |
| Gross TCO | $54,600 | $58,700 |
| Resale Value (50%/40%) | -$22,500 | -$15,200 |
| Net TCO | $32,100 | $43,500 |
5-Year Winner: EV by $11,400
10-Year Analysis (higher mileage driver: 15,000 mi/year):
| Cost Category | EV | Gas Car |
|---|---|---|
| Purchase Price | $45,000 | $38,000 |
| Fuel (10 years) | $6,000 | $17,500 |
| Maintenance | $4,500 | $9,000 |
| Insurance | $22,800 | $17,800 |
| Tax Credit | -$7,500 | $0 |
| Gross TCO | $70,800 | $82,300 |
| Resale Value | -$9,000 | -$7,600 |
| Net TCO | $61,800 | $74,700 |
10-Year Winner: EV by $12,900
The longer you own and the more you drive, the more EV saves.
When Gas Cars Still Make Financial Sense
Scenarios Where Gas May Win:
1. Very Low Annual Mileage (<6,000 miles/year)
- Fuel savings are minimal
- Higher EV purchase price never gets recovered
- Consider a used gas car or hybrid instead
2. No Home Charging Available
- Apartment dwellers relying on public charging
- Public charging at $0.40/kWh approaches gas costs
- DC fast charging frequently is hard on batteries
3. Extremely Cheap Gas + Expensive Electricity
- Gas below $2.50/gallon
- Electricity above $0.30/kWh
- Common in some rural areas
4. Short Ownership Period (<3 years)
- Not enough time to recoup higher purchase price
- Lease a gas car or buy used instead
5. Frequent Long-Distance Travel
- 500+ mile trips weekly
- Charging infrastructure gaps in your region
- Time cost of charging matters more
6. Heavy Towing Needs
- EV range drops 30-50% when towing
- Limited EV truck options currently
- Diesel may still be more practical
Break-Even Analysis:
| Annual Miles | Years to Break Even |
|---|---|
| 8,000 | 6-7 years |
| 12,000 | 4-5 years |
| 15,000 | 3-4 years |
| 20,000 | 2-3 years |
Assumes $7,000 higher EV purchase price, $0.06/mile fuel savings
Home Charging Setup: Costs and Considerations
Charging Levels Explained:
| Level | Power | Miles/Hour Charge | Typical Use |
|---|---|---|---|
| Level 1 | 120V (standard outlet) | 3-5 miles | Overnight top-up |
| Level 2 | 240V (dryer outlet) | 25-30 miles | Primary home charging |
| Level 3 (DC Fast) | 480V+ | 100-200 miles | Road trips only |
Level 2 Installation Costs:
| Component | Cost Range |
|---|---|
| EVSE (charger) | $300-$700 |
| Electrician labor | $200-$500 |
| Electrical panel upgrade (if needed) | $500-$2,000 |
| Permit fees | $50-$200 |
| Total typical cost | $500-$1,500 |
Ways to Reduce Installation Costs:
- Many utilities offer $200-$500 rebates for Level 2 installation
- Some EVs include Level 2 charger in purchase price
- 240V outlet may already exist near garage (dryer, welder)
- Federal tax credits may apply (check current IRS guidelines)
Can You Get By With Level 1? For some drivers, yes:
- If you drive <40 miles daily, Level 1 overnight works
- Cost: $0 (use standard outlet)
- 12 hours × 4 miles/hour = 48 miles overnight
- But Level 2 offers flexibility and faster recovery
Apartment and Condo Solutions:
- Many buildings adding charging stations (ask management)
- Workplace charging is increasingly common
- Public Level 2 networks (ChargePoint, EVgo) at malls, grocery stores
- Some areas allow street-side charging permits
EV Tax Credits and Incentives 2026
Federal EV Tax Credit (Updated):
New EVs (up to $7,500):
- Must be assembled in North America
- Battery component requirements (increasing % from US/allies)
- Price cap: $55,000 for cars, $80,000 for trucks/SUVs
- Income limits: $150,000 single, $300,000 married
- Point-of-sale transfer available (instant rebate at dealer)
Used EVs (up to $4,000):
- Vehicle price under $25,000
- Income limits: $75,000 single, $150,000 married
- Must purchase from dealer (not private sale)
- Vehicle at least 2 years old
State and Local Incentives:
| State | New EV Rebate | Additional Benefits |
|---|---|---|
| California | Up to $7,500 | HOV lane access |
| Colorado | $5,000 | Tax credit |
| New York | $2,000 | Lower registration |
| New Jersey | $4,000 | No sales tax on EVs |
| Texas | $2,500 | Some utilities |
| Oregon | $2,500 | Rebate |
| Connecticut | $4,000 | CHEAPR program |
Utility Company Incentives:
- Time-of-use rates (50% cheaper overnight)
- Charger installation rebates ($200-$500)
- Special EV rate plans
- Free charging credits for new owners
Stacking Incentives Example:
| Incentive | Amount |
|---|---|
| Federal tax credit | $7,500 |
| State rebate (CA) | $2,000 |
| Utility rebate | $500 |
| Charger rebate | $250 |
| Total | $10,250 |
Resources to Find Incentives:
- fueleconomy.gov (federal credit checker)
- plugstar.com (state incentive database)
- dsireusa.org (comprehensive database)
- Your utility company website
Pro Tips
- 💡Charge at home during off-peak hours (usually 9 PM - 9 AM) to reduce electricity costs by 30-50%.
- 💡Apply for all available incentives: federal tax credit, state rebates, utility company rebates, and HOV lane access.
- 💡If you cannot charge at home, calculate costs using public charging rates, not home rates.
- 💡Consider a used EV (2-3 years old) to avoid the steepest depreciation while still getting low operating costs.
- 💡For maximum savings, pair an EV with home solar panels - many owners achieve near-zero fuel costs.
- 💡Check your utility company for EV-specific rate plans with lower overnight charging rates.
- 💡Factor in the time cost of charging - home charging overnight has zero time cost versus gas station stops.
- 💡If you drive less than 6,000 miles per year, a fuel-efficient gas car or hybrid may be more economical.
- 💡Use free workplace or destination charging when available to further reduce costs.
- 💡Compare insurance quotes from multiple companies - EV rates vary significantly between insurers.
- 💡Pre-condition your EV while plugged in during extreme weather to preserve battery range and extend battery life.
- 💡Plan road trips using apps like A Better Route Planner (ABRP) to optimize charging stops and minimize travel time.
Frequently Asked Questions
The federal EV tax credit offers up to $7,500 for new EVs and up to $4,000 for used EVs (purchased from a dealer). For new EVs, your income must be below $150,000 (single) or $300,000 (married filing jointly). The vehicle must be assembled in North America and meet battery sourcing requirements. Starting in 2024, you can transfer the credit to the dealer for an instant rebate at purchase. Check IRS guidelines and fueleconomy.gov for eligible vehicles.
