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Electric Vehicle (EV) Charging Cost & Savings Calculator

Average miles driven per month.
Current cost of regular gasoline.
Average miles per gallon of your gas car.
Average utility rate (check your bill).
Typical EVs get 3 to 4 miles per kWh.

Your Potential Savings

Monthly Gas Cost

$0.00

Monthly EV Cost

$0.00

Monthly Savings

$0.00

Total Estimated Annual Savings

$0.00

Understanding the Cost Benefits of Electric Vehicles

Switching from a traditional internal combustion engine (ICE) vehicle to an electric vehicle (EV) is one of the most effective ways to reduce your monthly transportation expenses. While the initial purchase price of an EV might be higher, the "fuel" costs—electricity—are significantly lower and more stable than fluctuating gasoline prices.

How to Calculate Your EV Charging Savings

To determine how much you will save, you must compare the cost per mile of gasoline versus the cost per mile of electricity. This calculator uses several key metrics to provide an accurate estimate:

  • Monthly Mileage: The total distance you drive affects the scale of your savings. The more you drive, the faster you recoup the cost of an EV.
  • MPG vs. EV Efficiency: Gasoline cars are measured in Miles Per Gallon (MPG). EVs are measured in Miles per Kilowatt-hour (mi/kWh). Most modern EVs range between 3.0 and 4.0 mi/kWh.
  • Energy Prices: We compare the current price of a gallon of gasoline against your local residential electricity rate (usually found on your utility bill).

Real-World Example Calculation

Imagine you drive a standard sedan that gets 25 MPG and you travel 1,000 miles per month. If gas is $3.50 per gallon, you spend $140.00 monthly on fuel.

If you switch to an EV with an efficiency of 3.5 miles/kWh and your electricity cost is $0.15 per kWh, your monthly charging cost for those same 1,000 miles would be approximately $42.86. This results in a monthly saving of $97.14, or over $1,165 annually.

Other Hidden Savings

Beyond fuel, EVs offer additional financial benefits not captured in this calculator:

  1. Maintenance: EVs have fewer moving parts. You won't need oil changes, spark plug replacements, or timing belt repairs.
  2. Brake Longevity: Thanks to regenerative braking, EV brake pads and rotors often last twice as long as those on gas cars.
  3. Tax Incentives: Many regions offer federal or local tax credits and rebates for EV purchases and home charger installations.
function calculateEVSavings() { var miles = parseFloat(document.getElementById("monthlyMileage").value); var gasPrice = parseFloat(document.getElementById("gasPrice").value); var gasMPG = parseFloat(document.getElementById("gasMPG").value); var elecPrice = parseFloat(document.getElementById("elecPrice").value); var evEfficiency = parseFloat(document.getElementById("evEfficiency").value); if (isNaN(miles) || isNaN(gasPrice) || isNaN(gasMPG) || isNaN(elecPrice) || isNaN(evEfficiency) || gasMPG <= 0 || evEfficiency <= 0) { alert("Please enter valid positive numbers in all fields."); return; } // Gas Calculation var gasGallonsNeeded = miles / gasMPG; var monthlyGasCost = gasGallonsNeeded * gasPrice; // EV Calculation var kwhNeeded = miles / evEfficiency; var monthlyEVCost = kwhNeeded * elecPrice; // Savings var monthlySavings = monthlyGasCost – monthlyEVCost; var annualSavings = monthlySavings * 12; // Display results document.getElementById("resGasMonth").innerText = "$" + monthlyGasCost.toLocaleString(undefined, {minimumFractionDigits: 2, maximumFractionDigits: 2}); document.getElementById("resEVMonth").innerText = "$" + monthlyEVCost.toLocaleString(undefined, {minimumFractionDigits: 2, maximumFractionDigits: 2}); document.getElementById("resSavingsMonth").innerText = "$" + monthlySavings.toLocaleString(undefined, {minimumFractionDigits: 2, maximumFractionDigits: 2}); document.getElementById("resSavingsYear").innerText = "$" + annualSavings.toLocaleString(undefined, {minimumFractionDigits: 2, maximumFractionDigits: 2}); document.getElementById("ev-results").style.display = "block"; }

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