Baseline commute scenario
- Annual miles 12,000; EV 3.5 mi/kWh @ $0.14; Gas 28 MPG @ $3.80.
- EV annual fuel ≈ $480; Gas annual fuel ≈ $1,629.
- Over 5 years, fuel difference ≈ $5,745 in EV’s favor before maintenance/credit.
finance calculator
EV vs Gas 5-Year TCO
Compare 5-year total cost of ownership for an EV versus a gas car, including fuel, maintenance, purchase price, and tax credit.
Results
- EV fuel cost (annual)
- $480
- Gas fuel cost (annual)
- $1,629
- EV fuel cost (5-year)
- $2,400
- Gas fuel cost (5-year)
- $8,143
- EV maintenance (5-year)
- $2,000
- Gas maintenance (5-year)
- $4,000
- EV 5-year TCO
- $41,900
- Gas 5-year TCO
- $47,143
- Savings (gas TCO − EV TCO)
- $5,243
How to use this calculator
- Enter annual miles and each vehicle’s efficiency (EV mi/kWh and gas MPG).
- Enter your electricity rate, gas price, and annual maintenance for each vehicle.
- Enter purchase prices and any EV tax credit you expect to claim.
- Review annual and 5-year fuel/maintenance totals, 5-year TCO, and savings (gas − EV).
- Adjust inputs to model higher/lower fuel prices, efficiency, or maintenance and see sensitivity.
Inputs explained
- Annual miles driven
- Miles you expect to drive per year for this comparison.
- EV miles per kWh
- Efficiency of the EV; higher is better (e.g., 3–4 mi/kWh).
- Electricity rate
- Cost per kWh; use your blended rate or off-peak if you plan to charge off-peak.
- Gas car MPG
- Miles per gallon for the gas vehicle (city/highway combined).
- Gas price per gallon
- Current or expected gas price; test higher/lower scenarios.
- EV annual maintenance
- Estimated yearly maintenance for the EV (tires, brakes, etc.).
- Gas annual maintenance
- Estimated yearly maintenance for the gas car (oil, brakes, fluids, etc.).
- EV purchase price
- Purchase price before incentives.
- Gas purchase price
- Purchase price for the gas vehicle.
- EV tax credit
- Federal/state credit you expect to use; we subtract this from EV TCO.
How it works
Annual EV kWh = miles ÷ mi/kWh; annual fuel cost = kWh × electricity rate.
Annual gas gallons = miles ÷ MPG; annual fuel cost = gallons × gas price.
Five-year fuel/maintenance totals are summed; TCO adds purchase price (minus credit for EV) plus 5-year fuel/maintenance.
Savings = gas TCO − EV TCO (positive means EV cheaper).
Formula
EV annual fuel = (annualMiles ÷ evMpkwh) × evElectricityRate. Gas annual fuel = (annualMiles ÷ gasMpg) × gasPrice. Five-year totals = 5 × annual. EV TCO = evPurchasePrice − taxCredit + evFuelTotal + evMaintenanceTotal. Gas TCO = gasPurchasePrice + gasFuelTotal + gasMaintenanceTotal. Savings = gasTco − evTco.
When to use it
- Comparing EV vs gas 5-year cost for a commute or fleet decision.
- Testing how rising gas prices impact EV savings.
- Estimating savings if you can charge off-peak vs on-peak rates.
- Checking whether a tax credit offsets a higher EV sticker price.
- Planning maintenance budgets by vehicle type over a 5-year window.
Tips & cautions
- Use your actual rates: off-peak charging can improve EV savings; on-peak can reduce them.
- Include realistic maintenance: EVs may have lower routine maintenance, but tire costs can be higher on heavier EVs.
- If you have free charging at work, lower the electricity rate to reflect that benefit.
- Gas MPG varies by driving mix—use combined MPG or your real-world value for accuracy.
- Test higher gas prices and different electricity rates to see best/worst cases.
- Tax credit eligibility depends on income, vehicle, and assembly rules—verify before assuming the full credit.
- Ignores depreciation, insurance, charging infrastructure, and resale value.
- Flat prices; no escalation or discounting.
- No regional/seasonal efficiency adjustments.
- Does not include charging hardware/installation or public charging fees.
- Does not model battery degradation or EV resale vs gas resale values.
- Assumes constant annual miles and efficiency; real-world varies with weather and driving style.
Worked examples
Higher gas prices
- Same as baseline but gas $5.00.
- Gas annual fuel ≈ $2,143; EV still ≈ $480 (same rate).
- Fuel savings widen by ~$2,570 over 5 years vs baseline gas price.
Off-peak charging benefit
- EV rate $0.10 instead of $0.14; EV 3.5 mi/kWh; miles 12,000.
- EV annual fuel ≈ $343 vs $480 at $0.14, improving EV TCO further.
Tax credit effect
- EV price $45,000; Gas $35,000; EV credit $7,500.
- Credit effectively lowers EV TCO by $7,500 in the 5-year view.
FAQs
- Does this include public charging costs?
- No. Enter an average electricity rate that reflects your mix of home vs public charging, or adjust the rate to include occasional DC fast charging.
- What about depreciation and resale?
- Not included. Resale values can be significant; this tool focuses on purchase, fuel, maintenance, and a tax credit.
- Does it account for battery degradation?
- No. Efficiency is held constant. If you expect degradation, lower the mi/kWh slightly for later years and rerun.
- Are insurance differences included?
- No. Insurance can vary by vehicle; add expected insurance differences manually to your comparison.
- Can I include charging hardware costs?
- Not directly. Add them to the EV purchase price if you want them reflected in the EV TCO.
Related calculators
Simplified 5-year TCO comparison. Excludes depreciation, resale, insurance differences, charging hardware, battery degradation, and time value of money. Uses user-entered prices, efficiencies, maintenance, and a tax credit; verify incentive eligibility and local energy rates for accuracy. Not financial advice.