EV vs Gas Cost Comparison Calculator
Compare the true cost of owning an electric vehicle vs a gas car. See annual fuel savings, 10-year total cost of ownership, break-even point, and CO2 emissions side by side.
Electric Vehicle
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Disclaimer
This calculator provides estimates for informational purposes only. Actual solar production, savings, and payback periods depend on site-specific conditions including local weather, roof condition, shading, equipment selected, installer pricing, utility rate structures, and policy changes. Always obtain multiple quotes from qualified solar installers and consult a tax professional for incentive eligibility. Results should not be considered financial advice.
Annual Fuel Cost (EV)
EV Fuel Cost = (Annual Miles ÷ Efficiency mi/kWh) × Electricity Rate $/kWh
Annual Fuel Cost (Gas)
Gas Fuel Cost = (Annual Miles ÷ MPG) × Gas Price $/gallon
Annual Maintenance
EV Maintenance = Annual Miles × $0.04/mile
Gas Maintenance = Annual Miles × $0.10/mile
Maintenance estimates based on AAA and Consumer Reports data. EV maintenance includes tires, windshield wipers, and cabin filters. Gas vehicle maintenance adds oil changes, spark plugs, transmission service, and more frequent brake replacement.
Total Cost of Ownership
TCO (N years) = Purchase Price + Annual Running Cost × N
This is a simplified TCO that does not include insurance, registration, depreciation, or financing costs, which vary significantly by individual situation. Gas and electricity prices are held constant (not inflated).
Break-Even Point
Break-Even = (EV Price − Gas Price) ÷ (Gas Annual Running − EV Annual Running)
Break-even is only calculable when the EV costs more upfront but less annually to run. If the EV is both cheaper to buy and cheaper to run, it is immediately cost-advantageous.
CO₂ Emissions
EV CO₂ = (Annual Miles ÷ Efficiency) × 0.86 lbs CO₂/kWh (US grid average)
Gas CO₂ = (Annual Miles ÷ MPG) × 19.6 lbs CO₂/gallon
US grid average emission factor from EPA eGRID data. In states with cleaner grids (e.g., Washington, California), EV CO₂ is significantly lower than the national average calculation suggests.
EV vs Gas: The Complete Cost Comparison Guide
The decision to switch from a gasoline-powered vehicle to an electric vehicle is one of the most significant financial decisions a driver can make. While EVs have become increasingly competitive on purchase price, the true financial comparison goes far beyond the sticker price. Total cost of ownership — which includes fuel, maintenance, insurance, and depreciation — tells a more complete story about which vehicle type is actually cheaper to own and operate.
Why EVs Are Cheaper to Fuel
The most immediate savings from owning an EV come at the fuel pump, or rather, from avoiding it. Electricity is significantly cheaper per mile than gasoline in virtually every state in the US. At the national average electricity rate of 18 cents per kilowatt-hour, an EV that achieves 3.5 miles per kWh costs about 5.1 cents per mile to fuel. A gas vehicle achieving 30 miles per gallon at $3.50 per gallon costs about 11.7 cents per mile. That difference — roughly 6 to 7 cents per mile — translates to $900 to $1,050 in fuel savings per year for a driver covering 15,000 miles.
In states with low electricity rates like Washington, Idaho, and Wyoming, where rates average 12 to 13 cents per kWh, EV fuel costs drop below 4 cents per mile. In states with higher electricity rates like California, Massachusetts, and Connecticut, savings on fuel are partially offset by higher electricity costs, though these states also tend to have higher gas prices that maintain favorable EV economics.
Maintenance Savings Add Up Significantly
Beyond fuel, EVs save substantially on maintenance. Electric motors have far fewer moving parts than internal combustion engines. There are no oil changes, no spark plug replacements, no timing belt services, no transmission fluid changes, and fewer cooling system services. Regenerative braking, which converts kinetic energy back into electricity rather than dissipating it as heat, dramatically extends brake life — many EV owners report going 100,000 miles or more without needing brake pad replacements.
Consumer Reports data consistently shows that EV owners spend approximately 40% less on maintenance and repairs than owners of comparable gas vehicles. The DOE estimates EV maintenance costs at roughly $0.04 per mile versus $0.10 per mile for gas vehicles. For a driver covering 15,000 miles per year, this represents $900 in annual maintenance savings. Over 10 years, these maintenance savings alone can total $7,000 to $10,000, a substantial contribution to the overall EV cost advantage.
Understanding the Break-Even Point
Many EVs still carry a purchase price premium over comparable gas vehicles, particularly in the mainstream market. However, the lower annual operating costs of EVs — fuel plus maintenance — mean that the total cost of ownership for an EV eventually undercuts the gas vehicle. The point at which this happens is the break-even point.
For a typical comparison where an EV costs $5,000 to $8,000 more upfront but saves $1,500 to $2,000 per year in fuel and maintenance, the break-even point falls between 3 and 5 years. After that point, every additional year of EV ownership represents pure savings compared to the gas vehicle alternative. Given that cars are typically owned for 7 to 12 years, most EV buyers will cross the break-even point well before trading in their vehicle.
Environmental Impact: EVs and CO₂ Emissions
Even when accounting for emissions from electricity generation, EVs produce significantly fewer CO₂ emissions than gas vehicles. At the US national average grid emission factor of 0.86 pounds of CO₂ per kWh, a typical EV produces about 80 to 100 grams of CO₂ per mile compared to 350 to 450 grams per mile for a gas car — a reduction of roughly 70 to 80 percent. As the electrical grid becomes increasingly powered by renewable energy sources, EV emissions will continue to decline, while gas vehicle emissions remain constant throughout their operational life.
Additional Factors to Consider
This calculator focuses on fuel and maintenance costs, but a complete financial comparison should also consider depreciation, insurance, charging equipment costs, and available incentives. EVs in some markets have experienced higher depreciation rates, though this varies significantly by brand and model. Insurance costs are generally similar between EVs and gas vehicles, though some models carry higher premiums due to repair costs.
The federal EV tax credit of up to $7,500 is available for qualifying new EV purchases under the Inflation Reduction Act, subject to income limits and vehicle price caps. Many states offer additional EV rebates and incentives. Employers increasingly offer workplace charging, and many utilities offer time-of-use rates that make overnight home charging even more economical. When these incentives are factored in, the financial case for EVs becomes even stronger for many buyers.
Frequently Asked Questions
How does the total cost of ownership compare for EVs vs gas vehicles?
Total cost of ownership (TCO) for EVs typically becomes lower than gas vehicles after 3 to 7 years, depending on local electricity and gas prices. While EVs often have higher upfront purchase prices, they save money through lower fuel costs (electricity is cheaper per mile than gasoline) and reduced maintenance costs. EVs have fewer moving parts, no oil changes, and regenerative braking extends brake life, saving approximately $600 to $1,200 per year in maintenance.
What is the break-even point for buying an EV?
The break-even point is the year when your cumulative savings on fuel and maintenance exceed the price premium you paid for an EV over a comparable gas vehicle. For example, if an EV costs $5,000 more upfront but saves $1,500 per year in fuel and maintenance, the break-even point is about 3.3 years. States with higher gas prices and lower electricity rates reach break-even faster.
How much does it cost to fuel an EV vs a gas car per year?
At national average electricity rates of about 18 cents per kWh and 15,000 miles per year, fueling an EV typically costs $600 to $900 annually. Fueling a comparable gas vehicle at $3.50 per gallon and 30 MPG costs approximately $1,750 per year. This means EV drivers typically save $800 to $1,200 per year on fuel costs alone, though savings vary significantly by state.
Do EVs really save money on maintenance?
Yes. EVs have significantly lower maintenance costs than gas vehicles. Studies estimate EV maintenance costs at approximately $0.04 per mile versus $0.10 per mile for gas vehicles. EVs eliminate oil changes ($100-200/year), have fewer brake replacements due to regenerative braking, no transmission fluid changes, no spark plug replacements, and fewer belts and hoses. Consumer Reports data shows EV owners spend about 40% less on repairs and maintenance.
How do EV and gas vehicle CO2 emissions compare?
Even accounting for electricity generation from the US grid, EVs produce significantly fewer CO2 emissions than gas vehicles. At the national average grid emission factor of 0.86 lbs CO2 per kWh, a typical EV produces about 80 to 100 grams of CO2 per mile versus 350 to 450 grams per mile for a gas car. In states with cleaner electricity grids like California, Washington, or New York, EV emissions are even lower — often 70 to 80% less than gasoline.
Which states offer the best EV savings?
States with high gas prices and low electricity rates offer the best EV savings. California, Hawaii, Connecticut, and Massachusetts have high gas prices, making EV fuel savings substantial. States like Washington, Oregon, and Idaho have low electricity rates, making charging inexpensive. Texas and Florida offer large markets with good charging infrastructure. Many states also offer EV purchase incentives, rebates, and HOV lane access that add value.
Does gas price volatility affect the EV vs gas comparison?
Yes, significantly. Gas prices fluctuate with global oil markets, geopolitical events, and seasonal demand. In years when gas prices spike above $4.00 or $5.00 per gallon, EV savings increase dramatically. Electricity prices are generally more stable and predictable. This price stability is one of EV ownership's biggest financial advantages — your fuel budget becomes far more predictable. A sensitivity analysis shows that for every $1.00 increase in gas prices, an EV driver saves an additional $500 to $700 per year at 15,000 miles.
Data Sources
Data current as of February 2026. Rates and incentives are subject to change.