EV vs Gas Cost Calculator

The EV cost includes electricity charges for charging at home or at public stations (based on your entered rate), and optionally includes the $7,500 federal tax credit and annual maintenance savings of approximately $1,200 (due to fewer moving parts, no oil changes, lower brake wear). We do not include battery degradation costs, as most modern EV batteries are warrantied for 8+ years.

The break-even point assumes consistent fuel prices and electricity rates. In reality, these costs fluctuate. Additionally, break-even varies significantly based on your local electricity rates (cheaper rates favor EVs), gas prices, and vehicle purchase price differences (which this calculator does not factor in). Use this as a general estimate, not a precise prediction.

The $7,500 federal EV tax credit is available for qualifying vehicles purchased in 2024 and 2025 in the United States. However, eligibility depends on vehicle MSRP limits, battery component sourcing, final assembly location, and income limits. Check fueleconomy.gov for the latest list of eligible vehicles and current income thresholds.

We use EPA grid-average data: gas cars produce approximately 404g of CO2 per mile, while grid-average EVs produce approximately 150g of CO2 per mile (accounting for the emissions from electricity generation). The difference is multiplied by total miles driven over your selected period. In regions with cleaner electricity grids, EV emissions are even lower.

This calculator assumes home charging at your entered electricity rate. If you charge at public DC fast-chargers, the cost per kWh is often higher (typically $0.30-$0.60/kWh). Adjust the electricity rate in the calculator to reflect your expected charging mix. Many EV owners charge primarily at home and only use public chargers for road trips, which are less frequent.

Modern EV batteries are warrantied for 8-10 years or 100,000-150,000 miles. Most still retain 85-95% capacity after 10 years. Battery replacement is unlikely within a typical 5-10 year ownership period. If you plan to keep an EV beyond 10 years, budget $5,000-$15,000 for potential battery replacement, though this is becoming less common as battery durability improves.

For gas cars, check the EPA label (fueleconomy.gov) or your owner's manual for combined city/highway MPG. For EVs, EPA ratings list efficiency as MPGe (miles per gallon equivalent) or kWh/100 miles. The preset EV models in this calculator reflect EPA combined efficiency ratings. Real-world efficiency varies by driving style, temperature, and terrain; city driving typically results in better EV efficiency than highway driving.

This calculator includes only the federal $7,500 tax credit. Many states and municipalities offer additional incentives (rebates, tax credits, charging station discounts, HOV lane access). Check your state's energy office or fueleconomy.gov for available incentives in your area, which could significantly improve your EV savings.

This calculator does not include home charging equipment (Level 2 charger installation), typically $500-$2,000. However, many states and utilities offer rebates covering 50-100% of installation costs. Additionally, EV charging equipment lasts 10-15 years and serves multiple vehicles, so the per-vehicle cost amortizes over time.