EV vs Gas Total Cost of Ownership
Total cost of ownership includes purchase price, fuel/energy, maintenance, and insurance. EVs cost about 3-4 cents per mile for energy vs 10-15 cents for gasoline. EV maintenance is 40-50% lower (no oil changes, fewer brake replacements). The federal EV tax credit of up to $7,500 offsets the higher purchase price. Break-even typically occurs within 3-5 years of ownership.