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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

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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