What an Electric Car Actually Costs to Run

The comparison that matters

Fuel economy figures are not comparable across drivetrains — miles per gallon and miles per kWh measure different things. The number that compares them is cost per mile, and it depends far more on where you charge than on which car you bought.

Three electricity prices, three answers

A typical electric car does 3.5 miles per kWh. At a home overnight rate of $0.12/kWh that is 3.4 cents a mile. At a standard home rate of $0.17 it is 4.9 cents. At a public rapid charger at $0.45–0.60 it is 13–17 cents a mile — which is roughly what a 30 mpg petrol car costs at $3.40 a gallon.

The saving, in other words, belongs to home charging. A driver who can charge on a cheap overnight tariff saves 60–75% on fuel. A driver dependent on public rapid charging saves close to nothing, and that is the single most important question to answer before buying.

Efficiency also varies more than in a combustion car: cold weather can cut range by 20–40%, because battery chemistry slows and cabin heating draws directly from the pack rather than from waste engine heat.

What the fuel figure leaves out

Servicing is genuinely cheaper — no oil changes, no exhaust, far less brake wear thanks to regeneration. Insurance is often higher, because repair costs are. Depreciation has been volatile as battery prices and model ranges shift. Home charger installation is a one-off of several hundred to a couple of thousand.

Battery replacement is the fear that dominates the conversation and the cost that rarely arrives: most manufacturers warrant the pack for 8 years or 100,000 miles to 70% capacity, and degradation data from high-mileage fleets has been better than early predictions.

How to decide

Work out your own cost per mile at the price you will really pay, multiply by your actual annual mileage, and compare that against the petrol car you would otherwise buy. For a 12,000-mile driver with home charging the fuel saving is around $1,000 a year; for a 6,000-mile driver on public chargers it is close to zero, and the case has to be made on other grounds.

Run your own figures

The miles per kWh calculator converts your own consumption into cost per mile at your own electricity price, and the MPGe calculator puts it on the same scale as a petrol car.