How Much Do You Really Save Going Electric?

An EV costs more to buy but far less to run. Here's where the break-even point actually lands at today's US prices.

Cost per mile: the real difference

At the US average of $0.16/kWh electricity and $3.45/gallon gas:

	Gas (28 MPG)	EV (28 kWh/100mi)
Cost per mile	$0.123	$0.045
Annual (14,000 mi)	$1,725	$627
Annual savings	~$1,100

When does the EV pay for itself?

If an EV costs $8,000 more than the comparable gas car (after the federal tax credit), and you save ~$1,100/year in fuel, the fuel savings alone break even in about 7 years. Add lower maintenance (no oil changes, less brake wear - often $900–1,500/year saved) and the break-even can drop to 3–4 years.

Who saves the most

• High-mileage drivers - more miles means faster payback.
• Home chargers - home rates of $0.10–0.14/kWh beat public charging handily.
• People who keep cars long - the savings compound each year you own it.

An EV is a bigger upfront bet that pays a fuel-and-maintenance dividend every year you keep it.