Choosing between an electric car and a gas car involves more than just personal preference. It’s a decision with economic and environmental implications. This calculator helps you compare the projected costs and environmental impact of owning an electric car versus a gas car over a five-year period.
Inputs:
- Electric Car:
- Model: Enter the specific model of electric car you’re considering.
- Purchase Price: Enter the estimated purchase price of the electric car, including dealer fees and potential tax credits.
- Electricity Cost: Enter your average electricity cost per kWh.
- Annual Miles Driven: Estimate the number of miles you drive per year.
- Gas Car:
- Model: Enter the specific model of gas car you’re considering.
- Purchase Price: Enter the estimated purchase price of the gas car, including dealer fees and potential tax credits.
- Fuel Efficiency: Enter the combined fuel efficiency (MPG) of the gas car.
- Gas Price: Enter your average gas price per gallon.
Outputs:
- Fuel Costs:
- Electric Car: Calculates the estimated annual cost of charging the electric car based on your electricity cost and annual mileage.
- Gas Car: Calculates the estimated annual cost of gas for the gas car based on its fuel efficiency, your gas price, and annual mileage.
- Maintenance Costs:
- Electric Car: Estimates the average annual maintenance cost for electric cars, generally lower than gas cars due to fewer moving parts.
- Gas Car: Estimates the average annual maintenance cost for gas cars.
- Total Ownership Cost:
- Electric Car: Adds the purchase price, annual fuel costs, and annual maintenance costs for the electric car over five years.
- Gas Car: Adds the purchase price, annual fuel costs, and annual maintenance costs for the gas car over five years.
- Environmental Impact:
- Electric Car: Estimates the CO2 emissions avoided by driving an electric car compared to a gas car, based on your local electricity mix and the average emissions of gas cars.
Additional Considerations:
- Home Charging: Factor in the cost of installing a home charging station if needed.
- Public Charging: Consider the frequency and cost of public charging if you don’t have home charging.
- Depreciation: Both electric and gas cars depreciate in value over time. Include this in your long-term financial analysis.
- Government Incentives: Research available tax credits and incentives for purchasing electric cars in your area.
Disclaimer:
This calculator provides an estimate and may not reflect your specific circumstances. Actual costs and environmental impact may vary depending on individual driving habits, electricity rates, gas prices, and specific car models. Always conduct thorough research and consider all factors before making a purchase decision.
