Why use this calculator
EVs cost more upfront but less to run. Understanding exactly when you break even — and how much you save over 5 years — helps you make a financially sound decision about switching to electric.
How to use it
Enter your annual kilometres, fuel efficiency and price for a comparable petrol car, then the EV's energy consumption and your electricity rate. Enter the purchase prices for both. The calculator shows annual savings and the break-even point.
The formula
Annual Petrol Cost = (km ÷ 100) × efficiency × price. Annual EV Cost = (km ÷ 100) × kWh × electricity rate. Break-Even = Price Difference ÷ Annual Saving. 5-Year Cost = Purchase Price + (Annual Running × 5).
Worked examples
15,000 km/year, $35k petrol vs $55k EV, $2/L petrol, $0.28/kWh
~$1,900/year fuel saving + $400 servicing = $2,300/year. Break-even at ~8.7 years
25,000 km/year high mileage driver, same vehicles
~$3,200/year fuel saving, break-even at ~5.7 years
When people use it
- Deciding whether to buy an EV
- Comparing specific EV models vs petrol
- Factoring in government rebates
- Fleet transition planning
Tips
- Home solar can reduce your effective electricity rate to near zero for daytime charging
- Check federal and state EV rebates — many states offer $3k-$5k off EV purchase price
- EVs have significantly lower servicing costs (no oil changes, fewer brake replacements)
- Charging at home overnight is cheapest — public fast-charging is more expensive per kWh
- Factor in any likely fuel price changes — every $0.20/L increase accelerates the EV break-even
Questions people ask
- Are EVs cheaper to run than petrol cars?
- Yes, in most cases. An EV costs approximately $3-5 per 100km in electricity (at $0.28/kWh and 17kWh/100km) versus $18 per 100km for petrol (at $2/L and 9L/100km). The challenge is recovering the higher purchase price through running savings.
- Does the calculator include government rebates?
- No — enter the price after any rebates to account for government incentives. In Australia, some states offer rebates of $3,000-$6,750 for EVs. The federal Fringe Benefits Tax exemption also makes EVs attractive as novated leases.
- What is a typical EV energy consumption in Australia?
- Most mainstream EVs consume 15-20 kWh per 100km. Smaller EVs (e.g., BYD Dolphin) use around 12-15 kWh/100km; larger SUVs and performance EVs can use 20-25 kWh/100km.