1. What is EV Cost Savings Percentage?

The EV Cost Savings Percentage calculates how much you save by using an electric vehicle compared to a gas-powered vehicle, expressed as a percentage of the gas vehicle cost.

2. How Does the Calculator Work?

The calculator uses the following equation:

Where:

• \( Gas\ Cost \) — Cost of operating a gas vehicle ($)
• \( EV\ Cost \) — Cost of operating an electric vehicle ($)

Explanation: The formula shows what percentage of your gas vehicle costs you would save by switching to an electric vehicle.

3. Importance of EV Savings Calculation

Details: Understanding potential savings helps consumers make informed decisions about vehicle purchases and evaluate the long-term cost benefits of electric vehicles.

4. Using the Calculator

Tips: Enter the total cost of gas vehicle operation and the total cost of EV operation. Both values must be in dollars and the gas cost must be greater than zero.

5. Frequently Asked Questions (FAQ)

Q1: What costs should be included?
A: Include all operational costs - fuel/electricity, maintenance, and other recurring expenses for a fair comparison.

Q2: Does this include purchase price?
A: Typically no, this compares operational costs only. For total cost of ownership, include purchase price and depreciation.

Q3: What's a good savings percentage?
A: Savings vary, but EVs often show 40-60% operational cost savings compared to similar gas vehicles.

Q4: How does electricity price affect results?
A: Lower electricity costs increase savings. Use your local rates for most accurate calculations.

Q5: Should I consider tax incentives?
A: Tax incentives and rebates can significantly improve savings but are typically calculated separately from operational costs.