Here’s more information about the data behind the calculator. If you have general questions about EVs, we have answers.
What will this EV Cost & Savings calculator show me?
Comparing conventional gas/diesel cars and electric vehicles can be complex. This calculator makes it easy for you to compare by performing a variety of background calculations to provide you an approximation of your total cost of ownership and the associated environmental benefits when going electric.
How are maintenance cost savings calculated?
Maintenance cost savings are the difference between the estimated average maintenance costs for an electric vehicle compared to the similar equivalent conventional gas-powered vehicle maintenance costs over the number of years you indicated you plan to own the car. Current research and reports indicate that on average, EVs experience 35% lower maintenance costs due to fewer parts, simpler mechanical design, and no need for oil changes.
How are fuel cost savings calculated?
We compare the current average cost of gas in Oregon from this source and compare it to average costs of charging your chosen electric vehicle depending on how you indicated you would charge – at home, at work, or at public charging stations.
How are Avoided CO2 Emissions calculated?
The avoided CO2 Emissions are calculated by determining the total CO2 that would be produced by the number of years of planned ownership of gas or diesel consumption of a traditional ICE (Internal Combustion Engine) vehicle and subtracting the CO2 produced by the electricity fueling the EV for 10 years. Taking into account the mix of power generation sources in Oregon, the amount of carbon per unit of energy produced (carbon intensity) is presently estimated at 0.71 lbs2 per kWh. The carbon intensity of electricity from the grid is forecast to become cleaner over time, which lowers this number, leading to even lower CO2 emissions from EVs, and increased CO2 emissions savings in the future.
Why does my net cost result in a cost vs savings?
Although a rare scenario, there are reasons why the overall cost of ownership could result in a net cost vs savings. For example, if you select a very expensive EV yet you plan to own the car for just a year or two and don’t drive it much, then you could see a net cost vs savings. Try increasing the number of years you plan to own the car or adjusting the maximum price you’re willing to spend on a vehicle.
What are the rebates shown for my chosen car?
Although your individual circumstance will determine the rebates and incentives you qualify for, this calculator shows a $2,500 Oregon state rebate and up to $7,500 in federal tax credits, if applicable. The Inflation Reduction Act introduced a number of significant changes to the federal tax credit for new electric vehicles (section 30D). These changes will phase in over time. Effective Aug. 16, 2022, the federal tax credit up to $7,500 is only available for qualifying electric vehicles for which final assembly occurred in North America. Further changes to the eligibility rules will begin in 2023.
Overall, the reforms in the IRA mean the tax credit for EVs will evolve over the coming months and years. Starting in 2023, the IRA also establishes tax credits for pre-owned clean vehicles (section 25E) and for commercial clean vehicles (section 45W). The Federal Treasury and the Internal Revenue Service will release more information on all the clean vehicle credits in the coming months and we will work to update this calculator accordingly as soon as possible.