EV vs Gas Savings Calculator — Free 2026
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EV vs Gas Savings Calculator
Compare true ownership costs — fuel, maintenance, incentives, and CO₂ — gas vs electric
↻ Updated 2026 — $7,500 Federal EV Tax Credit included
Enter your driving details
Annual miles driven
⛽ Your current gas vehicle
Gas price ($/gal)
Your car's MPG
⚡ Your target EV
Home charge rate ($/kWh)
EV efficiency (mi/kWh)
Tesla Model 3: 4.5 mi/kWh · Model Y: 4.0 · Chevy Bolt: 3.9 · F-150 Lightning: 2.4
💰 Cost & incentives
EV price premium ($)
EV incentive ($)
Federal credit: $7,500 new / $4,000 used. Many states add $2,000–$7,500 more.
Annual maintenance savings ($)
EVs skip oil changes, fewer brakes, no transmission. AAA estimates $900–$1,200/yr vs gas cars.
Total annual savings (fuel + maintenance)
Annual gas cost
Annual electric cost
Fuel savings/year
Maintenance savings/year
Net cost premium
Breakeven period
10-year net savings
Verdict
Annual savings
Breakeven period
10-year net savings
CO₂ saved per year
Gas vs EV — Side-by-Side Cost Comparison
At default values (12,000 miles/year, $3.50 gas, 28 MPG vs 4.0 mi/kWh at $0.14/kWh):
⛽ Gas Vehicle
Annual fuel
Miles per $1
Annual maintenance~$1,300
Annual CO₂
5-year fuel cost
⚡ Electric Vehicle
Annual fuel
Miles per $1
Annual maintenance~$400
Annual CO₂
5-year fuel cost
⚡ 2026 Federal EV Tax Credit — $7,500 New / $4,000 Used
The Inflation Reduction Act provides a $7,500 non-refundable tax credit for new EVs and $4,000 for used EVs meeting price and income caps. New EV MSRP must be under $55,000 (cars) or $80,000 (SUVs/trucks). Buyer income limits: $150K single / $300K joint for new EVs. Starting January 2024, dealers can apply the credit at point of sale — you don't have to wait for tax season. Check fueleconomy.gov/feg/tax-credits.shtml for eligible vehicles.
Popular EV Efficiency Reference (2026)
| Vehicle | Range | Efficiency | MSRP (base) |
|---|---|---|---|
| Tesla Model 3 RWD | 333 mi | 4.5 mi/kWh | $40,240 |
| Tesla Model Y RWD | 320 mi | 4.0 mi/kWh | $44,990 |
| Chevy Equinox EV | 319 mi | 3.9 mi/kWh | $34,995 |
| Chevy Bolt EV | 259 mi | 3.9 mi/kWh | $26,500 |
| Hyundai Ioniq 6 RWD | 361 mi | 4.4 mi/kWh | $38,615 |
| Hyundai Ioniq 5 RWD | 303 mi | 3.8 mi/kWh | $41,450 |
| Ford Mustang Mach-E | 312 mi | 3.3 mi/kWh | $42,995 |
| Rivian R1T (Standard) | 270 mi | 2.8 mi/kWh | $69,900 |
| Ford F-150 Lightning | 240 mi | 2.4 mi/kWh | $59,995 |
| GMC Hummer EV | 329 mi | 1.9 mi/kWh | $84,650 |
How the Calculator Works
Annual Gas Cost = (Miles ÷ MPG) × Gas Price
Annual Electric Cost = (Miles ÷ mi/kWh) × Electricity Rate
Net Premium = EV Price Premium − Incentives
Breakeven = Net Premium ÷ (Fuel Savings + Maintenance Savings)
Annual Electric Cost = (Miles ÷ mi/kWh) × Electricity Rate
Net Premium = EV Price Premium − Incentives
Breakeven = Net Premium ÷ (Fuel Savings + Maintenance Savings)
CO₂ calculations use the EPA average of 8.887 kg CO₂ per gallon of gasoline burned, and 0.388 kg CO₂ per kWh from the US average electricity grid (2025 EPA eGRID data). In states with cleaner grids (CA, WA, NY), EV emissions are significantly lower.
Frequently Asked Questions
At the US average of $0.14/kWh, charging a Tesla Model 3 (75 kWh battery) from 20% to 80% costs about $6.30 — equivalent to filling a gas tank to 60% for $6. Most EV owners charge overnight on off-peak rates of $0.08–$0.12/kWh in many states, cutting costs further. Public DC fast chargers cost $0.25–$0.50/kWh — still cheaper than gas but more expensive than home charging.
Yes — significantly. EVs have no oil changes, no transmission, no spark plugs, no exhaust system, and use regenerative braking (so brake pads last 2-3x longer). Consumer Reports data shows EV owners pay about $0.031/mile in maintenance vs $0.061/mile for gas cars — roughly half. The main EV maintenance items are tires, cabin air filters, and eventual battery replacement (typically covered under 8-year/100,000-mile warranty).
At low mileage, fuel savings alone may not justify the premium. But factor in: (1) the $7,500 tax credit dramatically reduces the premium, (2) maintenance savings continue regardless of miles, and (3) charging is extremely convenient — you start every day with a "full tank." For very low-mileage drivers, a used EV eligible for the $4,000 credit often makes the math work.
Many states offer additional incentives on top of the federal $7,500: California (up to $7,500 via CVRP + CCE), Colorado ($5,000), New York ($2,000), New Jersey (sales tax exemption ~$3,000+), Massachusetts ($3,500), and others. Some utilities also offer rebates of $500–$1,500 for EV purchase or Level 2 charger installation. Check pluginamerica.org/incentives for your state.