Fuel cost comparisons: Electric vs. Hybrids Vs. ICE
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| A BEV is a Battery Electric Vehicle Battery = B Electric Vehicle = EV Battery Electric Vehicle = BEV |
| A PHEV is a Plug-in Hybrid Electric Vehicle Plug-in = P Hybrid = H Electric Vehicle = EV Plug-in Hybrid Electric Vehicle = PHEV |
Full electric vehicles, and plug-in hybrids can bring noticeable fuel/energy cost savings compared to conventional cars.
We already know that plug-ins, especially all-electric cars, have a huge advantage in the form of high efficiency and related low energy cost (compared to fuel in a conventional internal combustion engine equivalent).
Thanks to a new report by the U.S. DOE’s Office of Energy Efficiency & Renewable Energy, we can see a comparison of estimated annual fuel cost for the U.S. market with a few assumptions:
- estimates are based on combined city/highway fuel economy (EPA)
- 15,000 annual miles
- and the following fuel prices: $2.55 regular gasoline; $3.00 premium gasoline; $2.85 diesel; and $0.13 electricity per kWh
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all annual vehicle fuel costs are rounded to the nearest $50
As it turns out, BEVs usually need just $500 to $900 in electricity, which is a few times less than in the case of ICE.
Savings on PHEVs are highly dependent on all-electric range (can be close to BEVs) and particular usage profile.
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| Electric cars are cleaner and cheaper to operate |
Notes: All annual vehicle fuel costs are rounded to the nearest $50. Annual fuel cost estimates are based on combined city/highway fuel economy, 15,000 annual miles, and the following fuel prices: $2.55 regular gasoline; $3.00 premium gasoline; $2.85 diesel; and $0.13 electricity per kilowatt-hour.
Source: U.S. Department of Energy and U.S. Environmental Protection Agency, Fuel Economy Data, accessed October 1, 2019.