Total cost of ownership comparison: EV vs. gasoline vehicle. Helps you decide before buying.
Four tabs: monthly fuel cost (electricity vs. gas), 5-year TCO + breakeven point, CO₂ emissions + tree equivalent, and the convenience trade-off (charging vs. gas-station refueling).
Disclaimer: Assumes current US electricity and gasoline prices. Adjust to your local rates for accuracy.
Calculator information
📋 How to use this calculator
- Select the Monthly Cost tab and enter your miles per month, EV consumption (kWh/100 mi, typically 25-35), gasoline car fuel economy (MPG), electricity rate ($/kWh), and gas price ($/gallon).
- The calculator compares monthly energy costs for EV vs gasoline; the gap is typically 60-75% lower for an EV.
- 5-Year TCO tab: enter the EV purchase price, comparable gas car price, annual registration fees, insurance, and service costs to get total ownership cost and breakeven point.
- CO2 Emissions tab: the calculator estimates annual emissions for both vehicles using 0.39 kg CO2/kWh (US grid average per EPA eGRID) vs 8.89 kg CO2/gallon of gasoline, then converts to tree equivalents.
- Charging vs Refueling Convenience tab: enter your road-trip frequency and home charging access; the calculator gives an EV-fit score for your profile.
- Tip: for accuracy, use real-world consumption data (not manufacturer claims), which typically runs 15-20% higher than the rated figure.
🧮 Total Cost of Ownership and Breakeven Analysis
TCO = Purchase_Price + (Energy_Cost + Service + Registration + Insurance) x Years - Resale_Value; Breakeven_Months = (EV_Price - Gas_Price) / (Gas_Monthly_Cost - EV_Monthly_Cost)
- Purchase_Price = out-the-door price including taxes and fees (USD)
- EV_Energy_Cost = (miles/month x kWh_per_100mi / 100) x Rate_per_kWh
- Gas_Energy_Cost = (miles/month / MPG) x Gas_Price_per_gallon
- EV service: ~$200-400/year (less than ICE at $600-1,200/year due to no oil changes, fewer brake jobs)
- Federal EV tax credit: up to $7,500 for qualifying new EVs under the Inflation Reduction Act (IRC Section 30D)
US residential electricity averages $0.16/kWh (EIA, 2024), with state variation from $0.10 (WA, LA) to $0.32 (CA, HI). Home charging is far cheaper than public DC fast charging ($0.30-0.60/kWh). Typical breakeven in the US is 3-6 years given a $5,000-15,000 upfront price premium for EVs after federal incentives.
💡 Worked example: Tesla Model 3 vs Toyota Camry, 1,000 miles/month
Given:- Tesla Model 3 RWD: $42,000, consumption 25 kWh/100 mi
- Toyota Camry LE: $28,000, fuel economy 32 MPG
- US residential electricity rate: $0.16/kWh; regular gasoline: $3.50/gallon
- Usage: 1,000 miles/month = 12,000 miles/year
Steps:- EV cost per month = (1,000 x 25 / 100) x $0.16 = 250 kWh x $0.16 = $40.00
- Camry cost per month = (1,000 / 32) x $3.50 = 31.25 gallons x $3.50 = $109.38
- Energy cost difference = $69.38/month (63% cheaper)
- Initial price gap = $42,000 - $28,000 = $14,000 (before $7,500 federal credit)
- After tax credit, net premium = $14,000 - $7,500 = $6,500
- Add service savings: EV $250/year, Camry $700/year = $450/year savings
- Breakeven with service = $6,500 / ($69.38 x 12 + $450) = 5.0 years
Result: Breakeven around 5 years with the federal tax credit. EVs win on operating cost; choose an EV if mileage is high (15,000+ miles/year) or you value lower emissions and reduced maintenance.
❓ Frequently asked questions
Are EVs really cheaper in the US?
On energy costs, yes - typically 60-75% lower. The upfront premium has narrowed: many EVs are now within $5,000-10,000 of comparable ICE vehicles, and the federal tax credit (up to $7,500 for qualifying models) plus state incentives often close the gap. Breakeven typically runs 3-6 years depending on usage. For commuters driving 15,000+ miles per year, EVs pay back faster. Check fueleconomy.gov for vehicle-specific 5-year cost comparisons.
What about EV battery degradation and replacement cost?
Federal law (49 U.S.C. 30127) requires EV batteries to be warranted for at least 8 years or 100,000 miles, and California requires 10 years or 150,000 miles. Real-world degradation averages 1.8% per year per Recurrent Auto data, leaving roughly 85-90% capacity after 8 years. Replacement cost runs $5,000-20,000 depending on pack size, but full pack failures within warranty are rare. Tesla and Hyundai data show fewer than 5% of batteries needing replacement before 200,000 miles.
Is the US charging network reliable enough?
As of 2024, the US has roughly 64,000 public charging stations with 180,000+ ports per the DOE Alternative Fuels Data Center, plus Tesla's Supercharger network (now opening to non-Tesla EVs via NACS). Coverage is strongest along interstates and in coastal states. PlugShare and A Better Routeplanner help with trip planning. For drivers with home charging and under 200 miles of daily driving, public charging is only needed for road trips; 80%+ of charging happens at home overnight.
Are EVs cleaner given the US grid still uses fossil fuels?
Yes, in every US region. EPA and DOE analysis shows EVs produce lower lifecycle emissions than the average new gasoline car in all 50 states. In cleaner grids (CA, NY, WA), EV emissions are 60-70% lower than ICE; in coal-heavy grids (WY, KY), they are still 30-40% lower because electric drivetrains are roughly 90% efficient vs ~30% for ICE. As the grid decarbonizes, EVs get cleaner over time without changing the vehicle.
How do EV resale values hold up?
Resale has been weaker than ICE in recent years: per iSeeCars, EVs depreciated about 49% over five years (2019-2024) vs 39% for ICE, driven by rapid price cuts and battery technology gains. Tesla and luxury brands (Porsche Taycan, Rivian) hold value best. The picture is improving as charging infrastructure matures and used EV tax credits ($4,000 federal) boost demand. Lease deals often outperform purchases for early adopters concerned about residual value.
📚 Sources & references
Last updated: May 11, 2026