– Ben Martens

First EV Savings Milestone

Welcome to anotherĀ Tesla Tuesday!

I’ve mentioned before that I’m pulling in a lot of car stats with TeslaMate. I’m also using the GasBuddy API to record the prices at the six gas stations closest to my house. This lets me calculate how much I would be spending on gas if I drove the exact same distances at the same time. I assume that I would fill up every day which isn’t accurate, but over time, it should be nearly spot on.

I take all that gas price data and compare it against the cost for every charge I’ve put into the car. Most of the charging is done at home (92%), but if I’m on the road, I have all those prices as well too.

So if I compare my actual charging costs versus the estimate gas prices for the same driving pattern, we have saved our first $1000! Despite the high entry price, we bought this car because I believe it will be cheaper than if we bought another Escape. Using my conservative estimates and the lower gas prices from last summer, I expected to save $1000 every ~8000 miles, but we hit the first $1000 of savings at 5800 miles.

Digging into those charging costs at home a bit more, here’s a chart for our electric usage for the last 11 years:

You can see where we got the new car at the end of the chart, and our monthly usage can vary quite a bit based on how much we drive. Do you see that spike back in January 2014? That winter we tried running a space heater in one room. I cut that off quickly after monitoring how much power it used. The space heater wasn’t cheaper than just turning up the furnace a bit more. So if you’re nervous about the additional cost of charging an EV at home, look around your house at those space heaters. If you have one or two of them running, that’s roughly the same as charging an EV (caveat caveat caveat but they can be in the same ballpark.)

Gas savings alone won’t make this car cheaper. I’m also counting on lower total service bills (no oil changes, less moving parts to fail, etc) and a higher resale value. We won’t know how all that plays out for many years, but it’s fun to see it working out better than planned so far!