The average electric vehicle uses 0.32 KWhs of electricity to go a mile.  Since the average residential for power is $0.17/KWh, that’s $0.06 per mile.

This compares favorably to gasoline, whose average use per mile is 0.04 gallons at an average cost of $3.64, or $0.15.

Over the lifetime of a car, say 200K miles, we’re talking about $18,000.

Now, there are other pros and cons at stake here.  Replacement batteries for EVs are expensive, but the savings in terms of entire systems that are eliminated in EVs (fuel delivery, engine parts, pollution control, exhaust, etc.) are considerable as well.

Of course, the major motivation behind EV purchases is environmental responsibility.  Studies have consistently shown that phasing out internal combustion engines and the consumption of fossil fuels is essential to the decarbonization of the energy and transportation sectors, and thus to the success of our society’s efforts to mitigate climate change.

EVs, Fuel Savings, and Environmental Sustainability