Report reveals shocking cost differences of maintaining an EV versus a gas

A report comparing electric vehicles and gas-powered cars highlights just how wide the cost gap can be, both at the pump and in routine maintenance.

A breakdown from the Southern Alliance for Clean Energy revealed that driving 275 miles — roughly what the average American travels in a week — costs about $14 in electricity for an EV, assuming $0.18 per kilowatt-hour (the nationwide average is $0.1778). Driving the same distance in a gas-powered vehicle that gets 25 miles per gallon would cost around $33 if gas is $3 per gallon.

Stretch that out over a month, and the savings become even clearer. Driving 1,100 miles would cost about $56.57 in electricity, compared to $132 in gasoline. Over a year, that difference can add up to hundreds — if not thousands — of dollars in fuel savings alone.

Those aren't the only upsides to making your next car an EV. Going electric lowers maintenance costs because EVs don't need oil changes and have fewer moving parts, such as spark plugs and timing belts. While the upfront cost might be higher in some cases, studies have shown that the overall cost of ownership of an EV is lower over time.

"I'm a big supporter of EVs because I've been driving them for the past 10 years — and I don't miss gas cars at all," said Kathleen, a Florida EV driver featured in the report.

EVs are also an important part of the cleaner energy transition. Burning fuels like oil and gas significantly contributes to the planet's air pollution. That has a range of consequences, from worsening air quality and public health to rising temperatures, more volatile climate patterns, and more extreme weather.

According to Reuters, it takes a Tesla Model 3 about 13,500 miles of driving compared to a fuel-efficient fully gas-powered Toyota Corolla before the Model 3's lower pollution per mile makes up for the additional pollution associated with the battery's manufacturing. So while claims about EV batteries causing more pollution than gas cars are true, the hyper-efficiency of an EV — which loses very little energy to heat loss compared to a gas model — makes up for that quickly, and so do those lower yearly operating costs when it comes to the wallet.

If we game out the Southern Alliance for Clean Energy's findings of about $75 saved per month, that's about $900 per year. If you drive the car for eight years, that's $7,200 in savings on electric versus gas alone, though the future costs of electricity and gasoline may rise at different rates, and your own mileage may vary with costs in your own area.

Charging at home is cheaper than relying on public stations or the grid. Plus, taking advantage of time-of-use electricity rates (which more than half of homeowners have access to) can increase those savings.

With fuel costs less than half of gasoline and minimal maintenance requirements, EVs offer compelling savings while reducing emissions.