How the fuel costs compare
EV efficiency is measured in kilowatt-hours per 100 miles, the electric version of MPG; most EVs use 25 to 35. Charging at home costs your electricity rate plus a little lost as heat, typically about 10%. Public fast chargers cost several times more.
Example: driving 12,000 miles a year, a 28 MPG car at $3.20 a gallon costs $1,371.43 in gas. An EV using 30 kWh per 100 miles, charged at home at 17¢ per kWh with 10% losses, costs $673.20, saving $698.23 a year, or $3,491 over 5 years.
Beyond fuel
- Maintenance: EVs skip oil changes, spark plugs and most brake wear, but tires can wear faster because of the weight.
- Purchase price and insurance are often higher for EVs; compare loans with the car payment calculator.
- Home charger: a Level 2 charger and installation commonly cost $1,000 to $2,000.
- Time-of-use rates: charging overnight can cut your electricity price sharply; check your utility.
Planning a trip in a gas car? Try the fuel cost calculator.
Frequently asked questions
How much does it cost to charge an EV?
At home, roughly 4 to 6 cents a mile at typical U.S. electricity prices: a full charge on a 75 kWh battery is about $13 at 17¢ per kWh. Public fast charging often costs 2 to 3 times as much.
Is an EV cheaper than gas?
For fuel, almost always, if you charge mostly at home. Whether the whole car is cheaper depends on the purchase price, incentives, insurance and how long you keep it.
What is a good kWh per 100 miles?
Under 30 is efficient for an EV. Small sedans can be around 25; large trucks and SUVs 40 or more. Cold weather can raise it 20% to 30%.
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