Electric Car Cost & Savings Calculator
Use this calculator to estimate the cost of charging an electric vehicle (EV), its potential range, and compare daily running costs against a traditional gasoline car. Understand the financial benefits of switching to electric.
The total energy storage capacity of your EV's battery. Common values range from 40 kWh to over 100 kWh.
The percentage of electricity drawn from the grid that actually makes it into the battery. Accounts for energy loss during charging. Typically 80-95%.
Your local electricity rate per kilowatt-hour. Check your utility bill for this value.
How much energy your EV uses per mile. Lower numbers mean better efficiency. Often listed as Wh/mile or kWh/100 miles (e.g., 250 Wh/mile = 25 kWh/100 miles).
The typical distance you drive in a day. Used to estimate daily running costs.
The current price of gasoline per gallon in your area.
The average miles per gallon (MPG) of a comparable gasoline-powered vehicle.
Understanding Your Electric Car's Running Costs and Savings
Electric vehicles (EVs) are rapidly gaining popularity, not just for their environmental benefits but also for their potential to offer significant savings on fuel costs. However, understanding the true cost of "fueling" an EV requires a different perspective than with gasoline cars. This calculator helps demystify those costs and provides a clear comparison.
How EV Charging Costs Are Calculated
Unlike gasoline, which is measured in gallons, electricity for EVs is measured in kilowatt-hours (kWh). Your electricity bill will show a rate per kWh, which is the primary factor in determining your charging cost. However, it's not as simple as multiplying your battery size by the electricity rate.
- Battery Capacity (kWh): This is the total energy your car's battery can hold. A larger battery means more range but also takes more energy to fully charge.
- Charging Efficiency (%): When you plug in your EV, not all the electricity drawn from the grid makes it into the battery. Some energy is lost as heat during the conversion process (AC to DC) and within the battery management system. This efficiency typically ranges from 80% to 95%. Our calculator accounts for this loss, meaning you pay for slightly more electricity than what actually enters your battery.
- Electricity Price ($/kWh): This is the rate your utility company charges for electricity. It can vary based on time of day (time-of-use rates), season, and your specific plan.
Estimating Your EV's Range
An EV's range is determined by its battery capacity and its energy consumption. Energy consumption is often expressed in Watt-hours per mile (Wh/mile) or kilowatt-hours per 100 miles (kWh/100 miles). A lower Wh/mile indicates a more efficient vehicle. For example, if your car consumes 250 Wh/mile, it means it uses 0.25 kWh to travel one mile. Our calculator uses your battery capacity and energy consumption to give you an estimated maximum range on a full charge.
Comparing EV to Gasoline Car Costs
One of the most compelling reasons to switch to an EV is the potential for significant fuel savings. This calculator directly compares the daily cost of driving your EV versus a comparable gasoline car. By inputting your average daily driving distance, the calculator determines:
- Daily EV Electricity Cost: This is calculated based on your daily driving distance, your EV's energy consumption, charging efficiency, and your electricity price.
- Daily Gasoline Car Cost: This is calculated using your daily driving distance, the gasoline car's miles per gallon (MPG), and the current gasoline price.
The difference between these two figures gives you your daily savings. Over a month or a year, these savings can add up substantially, highlighting the financial advantage of electric mobility.
Factors Affecting Accuracy
While this calculator provides a strong estimate, actual costs and range can vary due to several factors:
- Driving Style: Aggressive driving, high speeds, and frequent acceleration/braking reduce efficiency.
- Temperature: Cold weather significantly impacts battery performance and range, as energy is also used for cabin heating.
- Terrain: Driving uphill requires more energy.
- Accessory Use: Using air conditioning, heating, or other electrical accessories consumes battery power.
- Charging Type: While charging efficiency is generally consistent, public fast chargers might have slightly different efficiencies than home charging.
- Electricity Rate Fluctuations: If you have time-of-use rates, charging during off-peak hours can further reduce costs.
By understanding these variables and using this calculator, you can gain a clearer picture of the economic benefits of owning an electric vehicle.