Is driving an EV really cheaper than burning gas or diesel?

As you, dear readers, surely know, the short answer is yes. Most of us are saving anywhere from 50% to 70% on our energy bills since going electric. However, there is a longer answer—the cost of charging depends on many factors, and topping up on the road is quite a different proposition from charging overnight at home. Buying and installing a home EV charger has its costs. EV owners can expect to pay around $500 for a good UL-listed or ETL-listed charging station, and other grand or so for an electrician. In some areas, local incentives can ease the pain—for example, Los Angeles utility customers may be eligible for a $500 rebate. 

So, charging at home is convenient and cheap, and polar bears and grandchildren love it. When you head out on the road, however, it’s a different story. Highway fast charger stations are steadily becoming more numerous and more convenient, but they will probably never be cheap. The Wall Street Journal calculated the cost of a 300-mile road trip, and found that an EV driver can usually expect to pay just as much as, or more than a gas-burner would..

In Los Angeles, which boasts some of the country’s highest gasoline prices, the hypothetical Mach-E driver would save a small amount on a 300-mile road trip. Elsewhere, EV drivers would spend $4 to $12 more to travel 300 miles in the EV. On a 300-mile trip from St Louis to Chicago, the Mach-E owner might pay $12.25 more than the RAV4 owner for energy. However, savvy EV road-trippers can often add some free miles at hotels, restaurants and other stops, so that 12-buck premium for driving an EV should be considered a worst-case scenario.

Americans love the mystique of the open road, but as the WSJ points out, most of us don’t take road trips that often. Less than half of one percent of all drives in the US are for more than 150 miles, according to a study by the DOT, so for most drivers, the cost of charging on a road trip shouldn’t be a major factor in a purchase decision.

A 2020 Consumer Reports study found that electrical vehicle drivers can expect to save substantial amounts on both maintenance and fuel costs. It found that EVs cost half as much to maintain, and that the savings when charging at home more than cancel out any charging costs on an occasional road trip.