EV Savings Calculator: Should You Switch to Electric?

Thinking about going electric? Use our interactive calculator to see how much you could save on fuel costs by switching from a petrol car to an electric vehicle (EV). Enter your driving habits and current fuel prices to get a personalised estimate.

The calculator accounts for differences in energy consumption, electricity rates, and potential solar charging benefits to give you a realistic comparison of annual running costs.

Calculate Your Savings

Electric vehicles are becoming increasingly popular in Australia as drivers look to reduce fuel costs and environmental impact. One of the main advantages of switching to an EV is the significantly lower cost of electricity compared to petrol.

Fuel Cost Comparison

The average Australian petrol car consumes around 7-8 litres per 100 kilometres. At current fuel prices (around 160c per litre), this translates to roughly $11-13 per 100km driven. An equivalent electric vehicle consumes around 15-20 kilowatt-hours per 100km, which costs approximately $3-5 per 100km at average Australian electricity rates. This represents a saving of 60-70% on fuel costs alone.

Electricity Rates in Australia

Residential electricity rates in Australia vary by state and retailer, ranging from 25 to 45 cents per kilowatt-hour. The highest rates are typically in South Australia and Tasmania, whilst the lowest are often in Queensland. Time-of-use tariffs can further reduce charging costs by up to 50% if you charge during off-peak hours (typically 9pm to 7am).

Solar Charging Benefits

If you have rooftop solar panels, you can significantly reduce your EV charging costs. Solar generation costs as little as 5-10 cents per kilowatt-hour, compared to grid electricity at 30-40 cents. Many Australian households with solar can charge their EV almost entirely during the day at minimal additional cost. Our calculator above includes a solar charging slider to estimate these savings.

Annual Driving Patterns

The average Australian driver travels around 12,000 to 15,000 kilometres per year, or roughly 250-300 kilometres per week. However, this varies significantly by location and lifestyle. Urban drivers may use less fuel, whilst rural and regional drivers typically use more. The more you drive, the greater your total fuel savings will be by switching to an EV.

Total Cost of Ownership

Whilst this calculator focuses on fuel and electricity costs, the full total cost of ownership of an EV includes:

• Vehicle purchase price (EVs are typically 10-20% more expensive upfront)
• Depreciation and residual value
• Insurance (usually similar to petrol vehicles)
• Registration and rego costs (some states offer discounts)
• Maintenance (EVs have significantly lower maintenance costs due to fewer moving parts)
• Tyre and brake wear (often lower in EVs due to regenerative braking)
• Charging equipment installation at home (optional but recommended)

Government Incentives

Several Australian states offer incentives for EV purchases, including stamp duty exemptions, registration discounts, and rebates. The federal government has also provided import tariff relief for electric vehicles. Check with your state government and local EV programs for current incentives.