ElectrifyROI

Calculator

EV vs gas car cost calculator

Compare the total cost of owning an electric vehicle against a gas car. Enter your driving habits, local fuel and electricity prices, and purchase costs. The math runs entirely in your browser - nothing is sent or stored.

Pairing it with rooftop solar? Use the combined solar + EV calculator → - the synergy materially shortens payback for both.

Units:
Enter all dollar amounts in your local currency.
Purchase type
Charging profile
Pick where you usually charge. Public-only mode assumes no home charger.
Your current gas car
Electric vehicle
Rates & assumptions

Common EV rebates

EV incentives vary significantly by location and often stack between federal, state/provincial, and manufacturer programs.

  • US: up to $7,500 federal tax credit for qualifying new EVs
  • Canada: up to $5,000 federal iZEV rebate
  • Many states/provinces add additional rebates
  • Some manufacturers offer point-of-sale discounts
DSIRE USA ↗NRCan Canada ↗

Payback period

3.2 years

Annual fuel savings (year 1)

$992

Annual total savings (year 1)

$1,592

Fuel + maintenance − insurance difference.

15-year cumulative savings

$24,418

Net upfront cost

$5,200

EV price + home charger (if used) − gas car price − rebates.

15-year ROI

470%

Net return ÷ net upfront cost.

CO₂ reduction (year 1)

3,073 kg

Tailpipe + upstream vs. grid electricity.

Cumulative cash flow

Estimate only. Results depend on the assumptions you provide and do not account for battery degradation, resale value differences, public charging costs, or local incentive programs. Consult a qualified financial advisor before making purchasing decisions.

How an EV cost comparison works

An electric vehicle replaces gasoline with electricity. Since electricity is typically cheaper per mile/km than gas, EVs cost less to fuel - but they often have a higher purchase price. The payback math compares two things: your annual operating savings (fuel + maintenance) and your net upfront premium (EV price minus what you'd pay for an equivalent gas car, minus rebates).

Divide the net premium by annual savings and you get the simple payback period. After that point, the EV is saving you money every year compared to the gas alternative.

Inputs that move the answer the most

  • Gas price vs. electricity rate. The wider the spread (expensive gas, cheap electricity), the faster payback occurs.
  • Annual distance. More driving = more fuel savings per year = faster payback.
  • Price premium. If the EV costs only slightly more than the gas car (or the same after rebates), payback is nearly instant.
  • Maintenance savings. EVs avoid oil changes, transmission service, and many brake jobs. This adds up to hundreds per year.

What this calculator deliberately ignores

Battery degradation, resale/depreciation differences, and financing costs are not modeled. Charging behavior is represented with a simple home/public/mixed profile and fixed public-rate assumptions instead of route-level trip simulation. These simplifications keep inputs manageable and the math transparent. See the methodology page for the full list of assumptions.

Frequently asked questions

How do I calculate the payback of an electric vehicle?

Subtract the price of the equivalent gas car, plus any EV rebates, from the EV purchase price. That is your net upfront cost. Then divide by your annual total savings (fuel savings + maintenance savings − any insurance difference). The calculator above does this automatically and projects cumulative savings over time with energy-rate inflation.

What maintenance costs does an EV avoid?

EVs have no oil changes, no transmission fluid, regenerative braking extends brake pad life significantly, and there are far fewer moving parts to fail. Typical estimates range from $400–$800/year in avoided maintenance vs. a comparable gas car.

How does battery degradation affect the calculation?

Most modern EVs lose 1–2% of battery capacity per year. This slightly increases energy consumption over time but rarely changes the payback math meaningfully. The calculator uses a fixed efficiency for simplicity and transparency.

Should I include home charger installation cost?

Use the charging profile selector. In home-charging mode, include your Level 2 charger install cost in the dedicated home charger field. In public-only mode, that line is removed because no home charger is assumed.

What about resale value?

Resale value differences between EVs and gas cars are still evolving rapidly. This calculator focuses on operating cost payback rather than total cost of ownership including depreciation. If you have strong assumptions about resale, adjust the purchase prices accordingly.

Do EVs make sense for long-distance drivers?

High-mileage drivers benefit more from fuel savings since the annual savings scale directly with distance driven. However, frequent long trips may require more public fast charging at higher rates than home electricity. Use the charging profile toggle (home/public/mixed) to model this directly.

Disclaimer. Estimates are for informational purposes only. Actual costs and savings depend on driving patterns, vehicle condition, local energy prices, and incentive programs we cannot model perfectly. Consult a qualified financial advisor before making purchasing decisions. See our full disclaimer.

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