Electric Vehicle Savings Calculator
Compare the total cost of ownership between electric and gas vehicles. Calculate your potential savings on fuel, maintenance, and tax credits when switching to an electric vehicle.
Savings Over 5 Years: $0
| Category | Electric Vehicle | Gas Vehicle | Difference |
|---|---|---|---|
| Purchase Price | $0 | $0 | $0 |
| Tax Credits | $0 | $0 | $0 |
| Fuel Costs | $0 | $0 | $0 |
| Maintenance | $0 | $0 | $0 |
| Total Cost | $0 | $0 | $0 |
Environmental Impact
By choosing an EV, you would reduce CO₂ emissions by approximately 0 lbs over 5 years.
About EV Savings Calculator
This calculator helps you compare the total cost of ownership between electric vehicles (EVs) and traditional gas-powered vehicles. While EVs often have a higher upfront cost, they typically save money in the long run through lower fuel and maintenance costs.
How EV Savings Are Calculated
The calculator considers several factors to determine your potential savings:
- Purchase Price: The initial cost of each vehicle.
- Tax Credits: Federal and state incentives for EV purchases.
- Fuel Costs: Electricity costs for EVs vs. gasoline costs for traditional vehicles.
- Maintenance: EVs typically require less maintenance than gas vehicles.
- Ownership Period: The number of years you plan to own the vehicle.
- Annual Mileage: How many miles you drive each year.
Environmental Impact
Electric vehicles produce zero tailpipe emissions. Even when accounting for electricity generation, EVs typically result in significantly lower greenhouse gas emissions than gas-powered vehicles. The exact reduction depends on your local electricity mix.
Additional Considerations
- Many states and utilities offer additional rebates and incentives for EV purchases.
- EVs may qualify for HOV lane access and reduced registration fees in some states.
- Home charging installation costs are not included in this calculator.
- Battery degradation over time may slightly reduce an EV's range.