EV vs Gas Savings Calculator
Compare the total cost of an electric vehicle against a gas car over time. Enter miles, MPG, gas price, EV efficiency, electricity rate and price premium to see annual savings and a break-even chart.
How to use this tool
- Enter miles driven per year, gas car mpg, gas price, ev efficiency, electricity rate, ev price premium over gas car and comparison period in the fields above.
- Results update instantly as you type — or click Calculate.
- Read your annual fuel savings (ev vs gas) and the full breakdown beneath it.
EVs typically cost more upfront but less to fuel. This calculator works out the crossover point where cumulative fuel savings offset the purchase premium, and charts both vehicles' total costs year by year.
⚠ This tool provides general estimates for education only and is not financial, tax or legal advice. Figures may not reflect your situation — verify with a qualified professional.
Formula
Gas fuel cost per year = (Miles ÷ MPG) × Gas price per gallon
EV electricity cost per year = (Miles ÷ mi/kWh) × Electricity rate ($/kWh)
Annual savings = Gas cost/yr − EV cost/yr
Break-even year = first year where (Cumulative gas cost) − (EV premium + Cumulative EV cost) ≥ 0
How it works
This calculator converts annual mileage into yearly fuel costs for both a gas car and an electric vehicle, then tracks cumulative spending year by year to find the break-even point where the EV's upfront price premium is recovered through fuel savings.
The model assumes constant miles driven, stable fuel prices, and a fixed electricity rate throughout the comparison period — real-world costs will vary with driving habits and energy price changes.
Worked example
- Gas cost per year: (12,000 mi ÷ 30 MPG) × $3.50/gal = 400 gal × $3.50 = $1,400/yr
- EV electricity cost per year: (12,000 mi ÷ 4.0 mi/kWh) × $0.13/kWh = 3,000 kWh × $0.13 = $390/yr
- Annual fuel savings: $1,400 − $390 = $1,010/yr
- Cumulative EV starts $5,000 ahead (premium). After 5 years: gas total = $7,000; EV total = $5,000 + $1,950 = $6,950 → savings ≥ 0 in year 5.
Annual fuel savings: $1,010. Break-even year: 5.
Common mistakes to avoid
- Ignoring the price premium or higher insurance cost of the EV when estimating break-even, which can add years to the payback period.
- Using the EPA-rated EV range efficiency (mi/kWh) instead of real-world efficiency, which drops notably in cold weather or at highway speeds.
- Forgetting that home charging requires a Level 2 charger installation ($500-$1,500) that should be added to the EV's net cost.
Key terms
- EV price premium
- The extra upfront cost of buying an electric vehicle compared to an equivalent gasoline car; must be recovered through fuel savings before the EV becomes cheaper overall.
- mi/kWh (miles per kilowatt-hour)
- A measure of EV efficiency: how many miles the vehicle travels on one kilowatt-hour of electricity, analogous to MPG for gas cars.
- Break-even year
- The first year in which cumulative fuel savings from the EV exceed the initial price premium, meaning the total cost of EV ownership has fallen below that of the gas car.
- Cumulative cost
- The running total of all fuel (or electricity) costs added up year over year, used to compare the two vehicles on a level basis over time.
- MPG (miles per gallon)
- The fuel efficiency of a gasoline vehicle: how many miles it travels on one gallon of fuel. Higher MPG means lower fuel costs per mile.
Frequently asked questions
- Does this include maintenance savings?
- No — EVs also save on oil changes, fewer brake jobs (regenerative braking) and simpler drivetrains. Adding estimated maintenance savings would push the break-even even earlier.
- What is a typical EV efficiency?
- Most modern EVs achieve 3–4 miles per kWh. The EPA label shows the official rating, but real-world efficiency varies with temperature, speed and AC use.