EV vs. Gas: How Much Can You Really Save?
Electric vehicles typically cost more upfront but less to fuel. Using real average market prices, here's when that trade-off actually pays off.
The annual energy cost gap
Typical EV
$595per year to charge, at $0.16/kWhTypical gas sedan
$1,135per year in fuel, at $4/galThat's $540 a year in energy savings for the EV — but EVs also carry a real average $15,301 higher market price in this model, which the energy savings need to earn back.
The payback period
At real average prices and rates, energy savings alone would take about 28.3 years to offset the higher purchase price — before counting any tax credits, which can shorten this significantly, or lower EV maintenance costs, which help further.
What changes the math
Your actual numbers depend heavily on local electricity and gas prices, how much you drive, and any EV incentives you qualify for. See individual EV cost pages — real depreciation varies a lot by model.
Run your own EV vs. gas comparison →