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Define significant....

The real question is will your gasoline bill decrease significantly? It depends on your driving, area of the country, and weather.

Let's assume you are average
  • Drive 1,250 miles a month
  • Have a gasoline vehicle getting 30 mpg
  • Buy an EV with with consumption of 3.5 miles/kWh
  • Pay the average 13.7 cents per kWh for electricity
  • Pay the average $4.22 per gallon of regular

GasolineElectric
Miles per month1,2501,250
'Fuel' Consumed41.7 gallons357 kWh
Cost of 'Fuel'$175.94$48.92
Gasoline bill drops by $175.94Electric light bill rises by $48.92

If you are average, you will save about $125 per month. Of course, if you are sharing your electric bill with a room mate, you may have to make some arrangements to be fair.
 

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I’m on the budget plan where they take last years total electricity use and averages it out over 12 months, then that is what I get charged. Since I bought my EV though my electric bill has increased by 1/4, or by $27 a month, less than the price of one tank of gas. I am driving my Bolt about 900 miles (on home electricity) a month, so $27 to drive 900 miles ain’t bad in my book.
 

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Me too. Electric bill must have gone up a few bucks, but in an all-electric house that charge is dwarfed by heating/cooling due to weather, pool pump, etc. I estimate the charging must cost 40 to 50 bucks.
 

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In my case, no. Replaced all lights in the house to LEDs and kids moved out of the house. Electric bill did not change with the car because of these other factors. Being retired, my mileage at 10,000 miles per year is below the average too.
Similar story here. When I was commuting 130 mi/day, my average electric bill rose about $20/month. Since COVID and retirement, our bills are far less than before buying the Bolt. LEDs, modern appliances, and no kids in the house helps keep the use low.
 

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2022 Bolt EUV Premier NOV22Batch
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Have a gasoline vehicle getting 30 mpg
My Bolt replaced around town trips in my 2010 Honda Ridgeline that struggled to get 13 MPG around town.
In the Honda, 13 miles cost me $4.50 USD in gas currently.

13 miles in my EUV costs about $0.55 USD in electricity {((.21/kWh in CT) / (5 m/kWh))} x 13 miles driven = $.546
In this case, I would need the Ridgeline to magically get 106 MPG to achieve the same financial result.

I feel good about plugging the Bolt in at home (even at CT's crazy .21 kWh rates!) because driving the bolt is roughly 1/8th the price of gas in my situation.
 

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Define significant....

The real question is will your gasoline bill decrease significantly? It depends on your driving, area of the country, and weather.

Let's assume you are average
  • Drive 1,250 miles a month
  • Have a gasoline vehicle getting 30 mpg
  • Buy an EV with with consumption of 3.5 miles/kWh
  • Pay the average 13.7 cents per kWh for electricity
  • Pay the average $4.22 per gallon of regular

GasolineElectric
Miles per month1,2501,250
'Fuel' Consumed41.7 gallons357 kWh
Cost of 'Fuel'$175.94$48.92
Gasoline bill drops by $175.94Electric light bill rises by $48.92

If you are average, you will save about $125 per month. Of course, if you are sharing your electric bill with a room mate, you may have to make some arrangements to be fair.
My calculations are similar. Cost of gas is higher ($4.72 at Sam's cllub), and electricity is lower (about $.11 per kwh - but increasing lately). My estimated cost of equivalent gas is about $25 per month. However, when I plug in at home, I'm charging off my solar panels. Although it takes a bite out of my home electricity savings, it's essentially free to charge up my Bolt.
 

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2020 Chevrolet Bolt
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The cost of light bill is it significantly higher for home charge
The increase in your electricity bill depends on:
  • how many miles you drive
  • how efficiently you drive
  • how expensive your electricity costs

Here's an example:
  • Let's say you drive 10,000 miles in one year
  • Let's say your average efficiency is 4 miles / kWh
  • Let's say your electricity cost is $0.15 per kWh

Your electric bill will have increased by:
(10000 miles) / (4 miles / kWh) x ($0.15 / kWh) = $375 in 1 year

(or about $31 per month)
 

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I’m on the west side of Michigan where consumers power charges me $.07/kWh IF I set my car to charge from 11pm til 6am (which is plenty of time). I’m averaging just over $.02/mile with my Bolt vs $.20/mile with my Buick Enclave. Consumers even sends me a $20 check monthly if I only charge in my time range. Loving this car!
 

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It's interesting how some can be cost sensitive in one area and not in another. A good friend had a panic attack due to the current higher gas prices, traded his relatively new Panzer for a Tesla.

When I was younger, I'd say, "Let's do the numbers. Seems like you'll need nineteen years for this to pay out." Lost a few friends that way. Now, I just congratulate him on his wise decision and tell him how much he'll love driving an EV.

jack vines
 

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I’m on the west side of Michigan where consumers power charges me $.07/kWh IF I set my car to charge from 11pm til 6am (which is plenty of time). I’m averaging just over $.02/mile with my Bolt vs $.20/mile with my Buick Enclave. Consumers even sends me a $20 check monthly if I only charge in my time range. Loving this car!
You could also set your departure time to 6am and the car will delay charging so it will complete charge just it time when you are ready to leave.
 

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When I have to use a Fast Charger at a Meijer store here in MI, I pay $3.50 to ChargePoint for 15 minutes of charge which gets me 50 added miles. That would cost me 2 gallons of gas in my ICE vehicle which right now would cost $9. Always less expensive in my garage at home but in a pinch can go anywhere I want cheaper than ICE
 

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We are expectant Bolt EUV owners - should arrive sometime this fall!
Wife still working I am retired, she currently spends about $80 - $90/week on gas.
I have installed our 50A outlet for a home charger, we are on a Time of Use plan here for hydro, .08/Kwh between 7PM and 7AM and same deal on Sat/Sun/Holidays. So we will be charging at home for the most part, I cannot see how this would not be cheaper if we use 100Kwh/week for her daily 100KM commute. We were ready for a new car anyway as the Pontiac Vibe has a load of miles on it so the timing is perfect.
The money saved on fuel, maintenance(oil changes, filters, brakes, etc) will more than make up for any additional cost on our monthly utility bill - I figure it will be approximately $40 - $50/month vs $300+ per month in fuel costs.
No Brainer,
Mike 🇨🇦 🍁 👍
 

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2021 Bolt LT Cayenne Orange Metallic
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We are expectant Bolt EUV owners - should arrive sometime this fall!
Wife still working I am retired, she currently spends about $80 - $90/week on gas.
I have installed our 50A outlet for a home charger, we are on a Time of Use plan here for hydro, .08/Kwh between 7PM and 7AM and same deal on Sat/Sun/Holidays. So we will be charging at home for the most part, I cannot see how this would not be cheaper if we use 100Kwh/week for her daily 100KM commute. We were ready for a new car anyway as the Pontiac Vibe has a load of miles on it so the timing is perfect.
The money saved on fuel, maintenance(oil changes, filters, brakes, etc) will more than make up for any additional cost on our monthly utility bill - I figure it will be approximately $40 - $50/month vs $300+ per month in fuel costs.
No Brainer,
Mike 🇨🇦 🍁 👍
You should come out very well!

Our problem is that both being retired, we barely drive enough to make our TOU plan pencil out. Maybe we need to get out more. :unsure:
 

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The EPA claims the bolt will cost $550 a year.
I'm fairly confident in the last four years of owning EV cars driving 20,000 miles a year that I don't pay anywhere near that amount using time of use power.
My electric bill went up $20 a month.
 
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