Will an electric car save you money compared with a gas car? It depends on how far you drive, your electricity and gas prices, where you charge and the difference in purchase price. This calculator compares yearly energy and maintenance costs and estimates how long it takes for an EV to pay back its higher price.
Last updated: October 28, 2026
Gas per year: – · Electricity per year: –
Extra cost after rebates: – · Payback: – · Net result after 8 years: –
Estimate only. Enter your own local prices for the most useful result.
How the calculation works
Yearly gas cost is your kilometres multiplied by fuel use per 100 km and the price per litre. Yearly electricity cost uses the EV’s energy use per 100 km and a blended electricity price, based on how much of your charging happens at home versus at public fast chargers. Savings are the gas car’s fuel and maintenance minus the EV’s electricity and maintenance. Payback divides the EV’s extra purchase price, after any rebates you qualify for, by those yearly savings.
What changes the result in Canada
- Electricity prices vary a lot by province. Hydro-heavy provinces such as Quebec, Manitoba and British Columbia have some of the lowest residential rates, which makes home charging very cheap.
- Home charging is far cheaper than public fast charging. Drivers who can charge at home overnight save the most.
- Winter increases EV energy use because of cabin and battery heating. Raise the kWh/100 km value for a cold-climate estimate.
- Rebates change over time and differ by province. Check current federal and provincial programs before buying, and enter only rebates you are sure to receive.
- Maintenance: EVs have no oil changes and less brake wear, but tires can wear faster and some insurance premiums are higher.
Assumptions and limits
The calculator uses constant prices and does not include insurance, financing, depreciation or the cost of installing a home charger, which is often between several hundred and a few thousand dollars. Add the charger cost to the extra purchase price for a more complete payback estimate.
Frequently asked questions
How many kWh does an EV use per 100 km?
Many compact and mid-size EVs are rated around 15 to 22 kWh/100 km, with SUVs and trucks higher. Check the official rating for the model you are considering, and expect more in winter.
Does an EV always save money?
Not always. Drivers with low annual kilometres, expensive public charging or a large price gap may take many years to break even. High-mileage drivers who charge at home usually see the fastest payback.
Is the 8-year result guaranteed?
No. It is a simple projection using your inputs, without price changes or battery replacement costs.
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