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.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
Gasoline Electric Miles per month 1,250 1,250 'Fuel' Consumed 41.7 gallons 357 kWh Cost of 'Fuel' $175.94 $48.92 Gasoline bill drops by $175.94 Electric 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.