EV Cost Savings Calculator
Compare the total cost of owning an electric vehicle vs a gas car. See fuel savings and break-even timeline.
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The EV cost savings calculator compares the total running cost of an electric vehicle against a petrol or diesel car. Enter your fuel costs, electricity rates, and annual mileage to see monthly savings, annual savings, and how long it takes for the EV to recover any price premium over its petrol equivalent. Fuel is only part of the story. EVs also benefit from lower servicing costs (no oil changes, fewer brake replacements due to regenerative braking, simpler drivetrain), government incentives, and cheaper home charging versus pump prices. This calculator focuses on the fuel cost comparison — the most significant and predictable ongoing saving. Use it when weighing an EV purchase, comparing models, or building a case for a company car policy change. The break-even timeline is especially valuable: if an EV costs $5,000 more upfront but saves $150/month in fuel, that premium pays off in under 3 years. Results are for informational purposes and do not constitute financial advice.
How to Use the EV Cost Savings Calculator
The EV Cost Savings Calculator is designed to give you an accurate answer in seconds. Follow these steps:
- Step 1: Enter your annual mileage — the distance you drive per year in kilometres or miles.
- Step 2: Enter your current petrol or diesel vehicle's fuel efficiency (L/100km or mpg) and the current fuel price per litre or gallon at your local pump.
- Step 3: Enter the EV's efficiency in km per kWh (found on the manufacturer spec sheet) and your home electricity rate per kWh. Use your overnight or off-peak rate for the most accurate estimate.
- Step 4: Enter any price premium the EV costs over its petrol equivalent — the extra amount you would pay upfront to buy the EV.
- Step 5: Monthly savings, annual savings, and break-even timeline appear instantly. Adjust fuel price to model future scenarios.
No account or sign-up required. All calculations run locally in your browser — nothing is stored or transmitted to any server.
How It Works
Annual Saving = (Mileage × Fuel Cost/km) − (Mileage × Electricity Cost/km)
Formula: Monthly Fuel Saving = Monthly Petrol Cost − Monthly EV Charging Cost Break-even (months) = EV Price Premium ÷ Monthly Saving Petrol cost is calculated from your annual mileage, vehicle fuel efficiency, and the price per litre or gallon. EV charging cost uses the same mileage, the vehicle's km-per-kWh efficiency, and your home electricity rate. Example: 15,000 km/year, petrol car at 8 L/100km, fuel at $1.80/L vs EV at 6 km/kWh, electricity at $0.25/kWh. Annual petrol cost = (15,000 ÷ 100) × 8 × $1.80 = $2,160 Annual EV charging = (15,000 ÷ 6) × $0.25 = $625 Annual saving = $2,160 − $625 = $1,535 Monthly saving = $128 Fuel prices fluctuate significantly, so the calculator produces a snapshot based on current inputs. Running the numbers at both current prices and a 20% higher fuel price scenario gives a range of outcomes and highlights how fuel price risk favours EV ownership over time. Charging at home overnight is considerably cheaper than public fast charging — use your home tariff rate for the most representative estimate.
Frequently Asked Questions
How much cheaper is an EV to run than a petrol car?
For most drivers in the US, UK, and Australia, fuel cost per kilometre in an EV is 3–5× lower than a petrol equivalent. At US average electricity rates (~$0.16/kWh) versus petrol (~$0.85/litre), an EV typically costs 2–3 cents per km versus 8–12 cents for petrol. Annual savings of $1,000–$2,500 are common for drivers covering 15,000–20,000 km/year.
How long does it take for an EV to pay for itself vs petrol?
Payback depends on the price premium and monthly fuel saving. A $5,000 premium at $150/month saving pays off in 33 months. A $10,000 premium at the same saving takes 67 months. EVs at similar price points to their petrol equivalents (increasingly common in 2025) reach break-even on fuel costs from month one. Enter your specific numbers to find your timeline.
Is it cheaper to charge an EV at home or use public chargers?
Home charging is almost always cheaper. Home electricity rates typically cost 2–4 cents per km driven. Public DC fast chargers charge a premium — often 3–6× the home rate — which can make public-only charging cost-comparable to petrol. For the most accurate running cost estimate, use your home overnight tariff rate. If you have a time-of-use rate, use your off-peak rate.
Do EVs have lower maintenance costs than petrol cars?
Yes — significantly. EVs have no oil changes, no timing belt, no transmission fluid, and fewer brake jobs (regenerative braking reduces pad wear). A Consumer Reports study found EV owners spend roughly 40% less on maintenance and repairs than petrol car owners. This calculator focuses on fuel costs; actual total cost of ownership savings are typically higher when maintenance is included.
Is the EV cost savings calculator free?
Yes — free with no sign-up needed. All calculations run in your browser and no data is stored. Run multiple scenarios by adjusting fuel prices, mileage, and efficiency figures to stress-test the numbers before making a purchase decision.