Is Charging an Electric Car Cheaper Than Buying Petrol or Diesel?

Switching to an electric vehicle (EV) can offer significant financial benefits, especially when compared to traditional petrol or diesel cars. However, the cost differences vary greatly depending on several factors, such as the efficiency of the vehicle, the current cost of electricity and fuel, and energy subsidies. Let's explore the details.

Direct Cost Comparison: A Personal Example in Ireland

My transition to an electric car demonstrated the financial advantages clearly. Initially, I purchased a compact car with both a diesel and electric option. The diesel variant consumed approximately 5 litres of diesel for every 100 kilometers. In contrast, the electric version requires around 13 kWh of electricity for the same distance.

In Ireland, five litres of diesel costs approximately €9.00. At a favourable tariff, I pay about €2.60 for 13 kWh of electricity. This translates to an electricity cost of around €2.00 for every 100 kilometers, which is roughly a third of the cost of diesel. However, it's important to note that the widespread adoption of EVs and subsidized energy in many regions can complicate these calculations.

National and Regional Variations

The cost comparison between EVs and traditional vehicles can vary significantly based on the region or country you live in. For instance, depending on the current energy sources, the cost of electricity can fluctuate greatly, even within the same region. As fossil and nuclear energy sources are phased out, the rising demand for electricity will drive costs and necessitate substantial investment to construct new energy systems.

Variables That Affect Cost

Multiple factors influence the cost comparison, including the efficiency of the vehicles and the price of fuel in the region:

Vehicle Efficiency: Not all gasoline cars are equally fuel-efficient. For example, a Toyota Prius consumes approximately half the fuel of an average car. Similarly, electric vehicles like the Tesla Model 3 can be twice as efficient as the Audi e-tron. Cost of Fuel: The cost of gasoline varies by state, and there are significant differences in electricity prices across different regions. Some locations charge twice as much for electricity than others. Charging Location: The cost of charging can be significantly lower if done at home, as home charging rates are typically less than half the rate of public chargers. For instance, at home charging might cost around €0.15 per kWh, whereas public chargers often cost around €0.30 per kWh.

Cost Comparison in an Average Scenario

To provide a balanced comparison, let's use an average scenario provided by the EPA's comparison calculator. For a United States car, the average fuel efficiency is about 27 miles per gallon (mpg). For comparison, a Tesla Model 3 can achieve a much higher efficiency of 105 miles per gallon equivalent (MPGe).

The average cost for a new car's fuel over 15,000 miles is approximately $1,250 for a gasoline car if gasoline costs $3.00 per gallon. However, if an electric vehicle is used instead, the cost would be approximately $1,300 less, assuming an average electricity cost of $0.13 per kWh. This is due to the higher efficiency of the EV.

However, let's introduce some variables to see how they affect the cost comparison:

Efficient Gasoline Vehicle: If we compare the most efficient gasoline car (like a Prius) with the least efficient electric vehicle (like an Audi e-tron), and charge the electric vehicle at a public charger (€0.30/kWh), the cost of operating the electric vehicle becomes comparable, or even more expensive. Less Efficient Electric Vehicle: With an efficient electric vehicle and an inefficient gasoline car, and home charging at €0.15/kWh, the EV provides substantial savings, up to €3,100 per year.

Conclusion

The economic advantages of electric cars are significant, especially when considering the efficiency of the vehicle and the cost of electricity and fuel. However, the cost comparison can vary depending on the region, subsidies, and the specific models of vehicles in use. As global energy systems continue to evolve, the cost comparison is likely to become even more favorable for electric vehicles.