EV Savings Calculator
Compare electric vs gas vehicle costs for 2026. Calculate total cost of ownership, fuel savings, and charging costs. Note: there is no federal EV tax credit in 2026 after the OBBBA repealed §30D.
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How to Use This Calculator
EV vs Gas Comparison tab
The default tab. Enter the purchase price of an EV and a comparable gas car, along with your annual miles driven. The calculator computes 5-year and 10-year total cost of ownership (TCO) for each, including fuel, maintenance, insurance, and depreciation. Expand "More options" to adjust electricity rate, gas price, EV efficiency, and MPG.
Fuel Savings tab
Focuses purely on fuel cost. Enter your annual miles, gas price, MPG, electricity rate, and EV efficiency. See your annual and monthly fuel savings from switching to electric, plus how long it takes to break even on the EV price premium through fuel savings alone.
Charging Cost tab
Estimate your monthly and annual EV charging costs based on your battery size, electricity rates, and charging habits. Adjust the home vs public charging split to see how it affects your costs. Includes cost per mile and cost per full charge.
Share your result
Every input is encoded in the URL. Click Share to send your exact scenario to a friend, partner, or car dealer.
No Federal EV Tax Credit in 2026
The One Big Beautiful Bill Act (OBBBA) eliminated the IRC §30D new clean vehicle credit for vehicles placed in service after September 30, 2025. This means there is no federal EV tax credit available in 2026 for new EV purchases.
Some state incentives remain available. For example, Colorado offers up to $5,000, Oregon offers up to $7,500 for income-qualified buyers, and several states offer reduced registration fees or HOV lane access. Check your state's incentive programs before purchasing.
Even without the federal credit, EVs can still save money over their lifetime through lower fuel and maintenance costs — which is exactly what this calculator helps you quantify.
The Formula
Total cost of ownership compares all major expenses over a vehicle's lifetime:
Annual Fuel Cost (Gas) = (Annual Miles ÷ MPG) × Gas Price
5-Year TCO = Depreciation + (Annual Fuel × 5) + (Maintenance × 5) + (Insurance × 5)
Break-Even Time = EV Price Premium ÷ Annual Fuel Savings
Fuel cost is where EVs shine: electricity is roughly 3-5x cheaper per mile than gasoline. Maintenance is lower because EVs have fewer moving parts — no oil changes, fewer brake replacements (regenerative braking), and no transmission service. Insurance is typically 10-15% higher for EVs due to higher repair costs. Depreciation varies by model but EVs generally depreciate slightly faster in the first 5 years.
Example
Sarah — Suburban Commuter, Austin TX
Sarah drives 15,000 miles per year and is comparing a $40,000 EV (3.8 mi/kWh) to a $33,000 gas sedan (30 MPG). Electricity at home is $0.12/kWh. Gas averages $3.40/gal in her area.
Annual Fuel Costs
5-Year TCO
10-Year TCO
Over 5 years the EV costs slightly more, but over 10 years the EV wins by $1,310 as fuel and maintenance savings compound. With no federal credit available in 2026, the break-even point is pushed out — but for long-term owners, EVs still save money.