The U.S. Department of Energy says EV energy costs are generally lower than those of comparable conventional vehicles. However, a buyer should calculate costs using local prices.
Start with electricity consumption and the tariff at your usual charging location. For a comparison per 100 kilometres, multiply kilowatt-hours consumed per 100 kilometres by the price per kilowatt-hour. For 100 miles, use the corresponding consumption figure.
As a hypothetical example, buying 20 kWh at 0.20 in your local currency costs 4.00. Buying the same energy at 0.60 costs 12.00. Neither tariff is a market average; the example shows why charging location matters.
Allow for charging losses and any session, parking or subscription fees. Check whether the consumption figure you use already includes charging losses to avoid counting them twice.
Homeowners should include charger installation costs. Apartment residents should investigate building access and the public chargers they would actually use.
Maintenance also affects the comparison. Battery-electric cars have fewer moving parts and do not need engine oil changes, although tires, suspension and other components still require attention. The Department of Energy’s maintenance guide explains these differences.
For buyers across the United States, Canada, Europe and Australia, the most useful comparison uses the same annual distance and ownership period. Add insurance, financing and expected depreciation before deciding which car is the better deal.
