Switching to an electric vehicle like a Tesla can lead to significant cost savings, primarily by eliminating the need for gasoline. This calculator helps you estimate your potential annual savings by comparing the cost of fueling a traditional gasoline car with the cost of charging a Tesla.
How the Calculator Works:
The calculation involves several key steps:
Gasoline Cost Calculation: First, we determine how many gallons of gasoline your current car would consume annually. This is done by dividing your Annual Mileage by your Current Gas Car's MPG. Then, we multiply this number of gallons by the Average Gas Price to get the total annual fuel cost.
Formula: (Annual Mileage / Gas Car MPG) * Gas Price = Annual Gasoline Cost
Tesla Charging Cost Calculation: Next, we estimate the cost to power your Tesla. We calculate the total kilowatt-hours (kWh) needed annually by dividing your Annual Mileage by your Tesla Model Efficiency. We then multiply this by the Electricity Cost per kWh.
Formula: (Annual Mileage / Tesla Efficiency) * Electricity Cost = Annual Charging Cost
Annual Savings: Finally, your estimated annual savings are calculated by subtracting the Annual Charging Cost from the Annual Gasoline Cost.
Formula: Annual Gasoline Cost – Annual Charging Cost = Estimated Annual Savings
Factors Influencing Savings:
Mileage: The more you drive, the higher your potential savings.
Gas Prices: Volatile gas prices can significantly impact savings. Higher gas prices lead to greater savings with an EV.
Vehicle Efficiency: Both your gas car's MPG and your Tesla's miles per kWh play a crucial role. A more fuel-efficient gas car or a more efficient Tesla will alter the savings.
Electricity Rates: The cost of electricity varies by location and time of day. Utilizing off-peak charging can further reduce costs.
This calculator provides an estimate. Actual savings may vary based on driving habits, specific vehicle maintenance, and fluctuating energy prices. It does not account for other potential costs like electricity infrastructure upgrades, battery degradation, or potential EV tax credits and rebates.
function calculateSavings() {
var annualMileage = parseFloat(document.getElementById("annualMileage").value);
var gasPrice = parseFloat(document.getElementById("gasPrice").value);
var gasCarMpg = parseFloat(document.getElementById("gasCarMpg").value);
var teslaModelEfficiency = parseFloat(document.getElementById("teslaModelEfficiency").value);
var electricityCost = parseFloat(document.getElementById("electricityCost").value);
var resultDiv = document.getElementById("result");
var savings = 0;
if (isNaN(annualMileage) || isNaN(gasPrice) || isNaN(gasCarMpg) || isNaN(teslaModelEfficiency) || isNaN(electricityCost) ||
annualMileage <= 0 || gasPrice <= 0 || gasCarMpg <= 0 || teslaModelEfficiency <= 0 || electricityCost < 0) {
resultDiv.innerHTML = "$0.00 Please enter valid positive numbers.";
return;
}
// Calculate annual gasoline cost
var gallonsPerYear = annualMileage / gasCarMpg;
var annualGasolineCost = gallonsPerYear * gasPrice;
// Calculate annual electricity cost
var kwhPerYear = annualMileage / teslaModelEfficiency;
var annualChargingCost = kwhPerYear * electricityCost;
// Calculate savings
savings = annualGasolineCost – annualChargingCost;
// Format and display the result
resultDiv.innerHTML = "$" + savings.toFixed(2) + " Estimated Annual Savings";
}