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EV vs gas — total cost of ownership

Cumulative running cost of an EV against an equivalent gasoline car. Both columns start from the chosen time horizon and apply the EV initial premium up front. No depreciation, insurance, or maintenance — those are tracked separately.

Inputs

Annual gas fuel

$1,200

Annual EV charging

$538

After 7 yr — gas total

$8,400

After 7 yr — EV total

$8,763

Gas is $363 cheaper over 7 years

EV does not break even within the chosen horizon at current prices.

Cumulative running cost — gas vs EV
Cumulative running cost — EV (incl. initial premium)
Year-by-year table
YearGas (cum.)EV (cum.)EV savings
1$1,200$5,538-$4,338
2$2,400$6,075-$3,675
3$3,600$6,613-$3,013
4$4,800$7,150-$2,350
5$6,000$7,688-$1,688
6$7,200$8,226-$1,026
7$8,400$8,763-$363

What this models

Annual gasoline cost is computed as annual miles ÷ EPA combined MPG × $/gallon. Annual EV charging cost is annual miles ÷ 100 × kWh/100 mi × $/kWh. The EV column also adds the chosen initial price premium in year zero, so an EV needs the running-cost gap to add up to that premium before it pulls ahead.

What this does not model

  • Depreciation. Resale value can outweigh fuel savings either direction; track it via the catalog.
  • Maintenance. EVs typically save on brake wear, fluids and engine service.
  • DCFC vs home charging mix. All charging is assumed at the entered $/kWh.
  • Inflation. Prices are held constant in today's dollars.
  • Battery degradation. Long-horizon EV efficiency is assumed flat at the entered rate.

Default values

The starting numbers reflect a US-average commuter case: 12,000 mi/yr, 32 MPG combined for the gas car, 28 kWh/100 mi for the EV, $3.20/gallon and $0.16/kWh — within the recent EIA range for retail residential electricity. Adjust to your own data.