Gas prices are at a recent all-time high. With more car manÂuÂfacÂturÂers proÂvidÂing strong elecÂtric vehiÂcle options, more peoÂple are askÂing, is it worth the switch? Will I realÂly save more monÂey driÂving elecÂtric than gas? The expeÂriÂence of thouÂsands of EV driÂvers, includÂing my perÂsonÂal expeÂriÂence, answers that quesÂtion with a definÂiÂtive, yes!
PriÂor to purÂchasÂing a TesÂla ModÂel 3 StanÂdard Range, I owned a 2016 VW JetÂta, pureÂly for the effiÂcienÂcy. My JetÂta averÂaged 32 mpg, had Apple Carplay, and was relaxÂing to driÂve. In 2019, we decidÂed to give EVs a try and purÂchased the 2020 TesÂla ModÂel 3. We had done some math ahead of time, hopÂing the savÂings would pan out, and it proved to have incredÂiÂble results.
In the last 30 days, I have driÂven 3,000 miles in my TesÂla. My car conÂsumed 617 kWh to make that disÂtance, which averÂages almost 5 miles per kWh (a comÂmon effiÂcienÂcy ratÂing for EVs.) An effiÂcienÂcy ratÂing for EVs is not miles per galÂlon, but how many kiloÂwatt hours are needÂed to travÂel 100 miles. An averÂage EV conÂsumes 30 kWh/100 miles. My EV averÂages around 21 kWh/100 miles.
My chargÂing habits have been quite mixed: 60% of my chargÂing is done at home, 30% at a free pubÂlic chargÂer, and 10% is done with superÂchargÂing on the road. At home, I pay Xcel enerÂgy their basic utilÂiÂty rate, which is around $0.13 per kWh for overnight chargÂing. At work, I often use a free, pubÂlic chargÂer which takes a few hours. On the road, I use the TesÂla SuperÂchargÂer netÂwork, which costs $0.43 per kWh and charges in a matÂter of minÂutes. This means I paid close to $75 to travÂel 3,000 miles in my EV.
If I still had my JetÂta today, that same disÂtance would cost me nearÂly $480 in fuel (14 gal. tank/3000 miles= 8 fill-ups at $4.85), not includÂing the mainÂteÂnance costs for a gas car.
GrantÂed, because my EV range is only around 220 miles, I spend more time chargÂing than I would spend visÂitÂing a gas staÂtion. HowÂevÂer, most often I attempt to charge while I am workÂing or sleepÂing. ThereÂfore, its effect on my life is quite minÂiÂmal.
My batÂtery is ratÂed for 1,500 full charge cycles, or, in othÂer words, 300,000 miles before seriÂous degraÂdaÂtion. I averÂage $0.05 per mile driÂving the TesÂla, which means I can expect to spend $15,000 in the car’s lifeÂtime on chargÂing. My JetÂta averÂaged $0.12 per mile. AssumÂing it could make it 300,000 miles withÂout major overÂhauls, engine, or transÂmisÂsion replaceÂments, I would still expect to pay $36,000 in fuel costs alone. Oil changes and spark plugs bring the total lifeÂtime cost of the JetÂta to almost $40,000 (based on my local VW labor and parts) in the best case sceÂnario.
AccordÂing to KBB, the averÂage cost of a new EV is $55,000, and the averÂage cost of a new gas car is $47,000. A lifeÂtime of chargÂing brings that EV to $70,000 for 300,000 miles driÂven. On the othÂer hand, a gas car could cost you $87,000 to driÂve those same miles in fuel costs alone.
So, do you ultiÂmateÂly save monÂey chargÂing with an EV? Whether you keep an EV for the life of the car or just a few years, you pay a fracÂtion of the cost to fuel your EV than a gasoÂline car.
WritÂten by Ben Westby
PhoÂtos by Ben Westby