How this calculation works
This calculator compares the true cost of driving an electric vehicle against an internal combustion engine vehicle across energy, scheduled maintenance, home charger installation, and upfront price deltas.
1. Fuel and Electricity
Annual gasoline spending is calculated directly from annual mileage divided by the gasoline vehicle's combined MPG rating, multiplied by fuel price per gallon. Annual EV electricity usage accounts for wall-to-battery charging losses (10% to 15% typical for Level 2 AC) and any optional cold-weather efficiency degradation. Electricity consumption is blended across the percentage of miles charged at home versus public DC fast chargers.
2. Maintenance and Insurance
Scheduled maintenance costs per mile are benchmarked from the Department of Energy's Argonne National Laboratory Comprehensive Total Cost of Ownership Study: $0.101/mile for internal combustion vehicles versus $0.061/mile for battery-electric vehicles (~40% savings from eliminated oil changes, spark plugs, timing belts, and regenerative brake preservation). Insurance differences, if any, are netted annually.
3. Upfront Net Difference and Payback
The net upfront capital outlay equals the EV purchase premium plus the installed home charger cost (omitted if charging 100% away from home), minus all applicable federal, state, and utility incentives. Cash flow projections utilize the shared DoesItPay financial engine, modeling distinct nominal growth rates for fuel and electricity over your chosen ownership horizon.
Data Sources & Benchmarks
| Parameter | Benchmark | Source |
|---|---|---|
| Annual mileage | 12,000 miles/yr | FHWA Highway Statistics |
| Vehicle efficiency | 30 mpg / 3.5 mi/kWh | fueleconomy.gov Compact SUV benchmark |
| Retail gasoline & electricity | $3.40/gal • $0.28/kWh | U.S. Energy Information Administration (EIA) |
| Charging losses & split | 12% loss • 80% home | DOE Alternative Fuels Data Center (AFDC) / INL |
| Maintenance per mile | $0.101 (Gas) vs $0.061 (EV) | Argonne National Laboratory TCO Quantification |
| Home Level 2 charger | $1,000 installed | Qmerit EV Charging Installation Index |
| Clean vehicle incentives | $0 default ($7,500 30D / $2,000 NY) | IRS §30D • NYSERDA |
Disclaimer: A planning estimate based on your inputs and the assumptions shown. Actual costs and eligibility may differ. Driving patterns, weather, and battery degradation will affect real-world energy consumption and financial results.