How Expensive Is An EV?
Are EVs actually cheaper to drive than Internal Combustion Engine (or I.C.E.) cars? I analyzed real data from our Nissan Leaf to find out.
As the EV market heats up, many people are asking how affordable they actually are. EV sales in North America have doubled since 2020, and they're still only 1/2 of European sales, which were over 2 million vehicles last year, according to PV Magazine's EV issue. CNET reported that 2022 will be a record year for EV launches. But do they actually save much gas money?
What I Did
After driving our EV for several months - in mild and extreme weather like SNOW! ICE! SUNNY DAYS! HEAVY RAIN! - I crunched the numbers for actual operating costs. Then I compared them to expenses for driving a similar internal-combustion-engine car. The two vehicles were a Nissan Leaf and a Nissan Versa. Same manufacturer, relatively modern cars, similar sizes. Pretty much apples and apples.
Everyone knows that your mileage may vary. People drive differently, and gas prices change. Most of the time I recharge at home, drawing electricity from the residential grid, but sometimes I plug into retail charging stations. So, to account for that variation, I charted a range of costs from typical to high cost.
Remember that this is an internet post, not a professional study or book. Contact me if you have more detailed questions.
What I Learned
Personally, I like saving money, even if it takes a bit more time than the conventional way. If I can do a project myself and save some cash - heck yeah!
Filling Up
Let's look at how expensive it is to fill up. When I park in our driveway and plug our EV in, the maximum cost to recharge it is very low. Only about $3.00. And that's assuming the battery is going from empty to 100% charge; in reality I generally charge it up from 50% or higher. At a high-speed charging station, it might cost up to $12 for a full refill, but that will probably decrease as the market gets more competitive.
The gasoline-powered car numbers are higher! (yes, I know the range and tank are bigger.) Filling up a Versa will probably cost around $25, or much higher if gas prices are near $4.00 per gallon.
Cost Per Mile
How about normalized operating costs? How many dollars per mile?
Usually our EV costs less than a nickel per mile to drive. It might be around a dime per mile for a long trip with retail charging stations. (yes, I know that getting a proper electrical socket installed near the car isn't free. More about infrastructure expenses later.)
The gasoline-powered car would cost around a dime per mile to drive, not including maintenance bills. Those numbers are based on EPA fuel economy estimates and typical gas prices. For reference, the official mileage reimbursement rate is around $0.60 per mile for a car, and that does include expected maintenance costs.
Pretty noticeable differences! For regular city driving, our EV costs roughly 60% less than an I.C.E. car! Money in the bank!
TLDR
Turns out that operating an EV can be SUPER economical. Results from our Nissan Leaf showed that the driving costs per mile are usually 60% cheaper than gas money. Filling up the battery at home typically costs less than buying a coffee.
It's like recharging your iPhone or cordless drill batteries. They cost some time but only a few cents. Remember when cordless power tools were novelties? Now after scaling up production they're ubiquitous.
I'm going to keep logging data! We'll see if the numbers change with more charging stations and more miles. Maybe gas prices will come down and stay cheap forever. In the meantime, I'm excited to see the F-150 Lightning from Ford's new Model E division.
