EV vs. Gas Savings & Break-Even Calculator
An electric car usually costs more to buy and less to run. This calculator works out both sides: the annual fuel-versus-electricity saving from your mileage and local prices, and the break-even year when that saving pays back the EV’s higher price.
One figure to get right: the federal clean-vehicle tax credit (up to $7,500 new, $4,000 used) ended for vehicles acquired after September 30, 2025, so the calculator defaults it to $0. Only state and utility incentives remain, and they vary — enter yours if you have them.
Calculator
Annual fuel savings with the EV
$1,265
Break-even in about 7.9 years
Gas fuel / yr
$2,001
EV energy / yr
$736
Price gap
$10,000
Accuracy note: the federal clean-vehicle tax credit (up to $7,500 new / $4,000 used) ended for vehicles acquired after 2025-09-30. It is not included. Only state and utility incentives remain.
Calculation Formulas
Key Figures
| Figure | Value | Description |
|---|---|---|
| Federal EV credit | ENDED 2025-09-30 | The up-to-$7,500 new / $4,000 used federal credit ended for vehicles acquired after Sept 30, 2025. Defaults to $0. |
| Default electricity | ~$0.17/kWh | U.S. average residential rate (EIA); varies widely by state. |
Note: Results are estimates for planning purposes. Rates, fees, taxes, and insurance vary by lender and location — confirm exact figures with a licensed professional before making financial decisions.
Standards & Sources
Last verified: November 2026
- IRC §30D clean-vehicle credit — terminated
The federal new- and used-EV tax credits ended for vehicles acquired after September 30, 2025. Only state and utility incentives remain, and they vary by location.
- EPA fuel economy ratings
MPG and miles-per-kWh figures are EPA combined estimates; real-world efficiency depends on climate and driving.
How to use this calculator
- Enter your annual mileage and your local gas price and electricity rate.
- Enter each car’s efficiency — MPG for the gas car, miles per kWh for the EV.
- Enter the price of each car and any state or utility incentive (the federal credit has ended).
- Read the annual savings, five-year savings, and the break-even year.
Frequently Asked Questions
Is an EV cheaper than a gas car?
Usually cheaper to run and often more expensive to buy. Whether it comes out ahead depends on your mileage, local electricity and gas prices, and the price gap — the calculator finds the break-even year.
Is there still a federal EV tax credit?
No. The federal clean-vehicle tax credit (up to $7,500 new and $4,000 used) ended for vehicles acquired after September 30, 2025. Only state and utility incentives remain, and they vary.
How much does it cost to charge an EV vs. buy gas?
At a typical home electricity rate, charging usually costs well under half of what the equivalent gasoline would — but public fast-charging can cost much more. The calculator uses the rate you enter.
Related calculators
Calculate what fuel costs you per year and per month from your mileage, MPG and gas price — and compare a gas car against a hybrid.
Open calculatorSee what a car really costs over 5 years: depreciation, fuel, insurance, maintenance, interest and fees — per year, per month and per mile.
Open calculatorCalculate your true cost per mile to drive from fuel, insurance, maintenance, depreciation and fees — the honest unit for comparing any two cars.
Open calculator