Does Fuel Savings really make that much of a difference?

[phat78boy]

My savings were/are huge. If you put 15K or more a year on your car, you will be saving a good amount. In addition to the fuel savings, there is no oil or other fluids to change or upkeep. Plus, I have saved a lot of time being able to ride in the HOV lane alone.

I also routinely take trips and have used the supercharger each time. My quick trips to Vegas used to cost me about 160 in gas, its free now.

 

[Lloyd]

Consider driving an EV also as an insurance policy to all that is going on in the Middle East and Russia. Not a doomsdayer, but I believe the Global fuel market is more vulnerable than we are led to believe.

 

[yobigd20]

Yes it makes a big difference. 52k miles on my MS now here in NEW JERSEY and I've saved about close to $15k in gas + tolls in the last 16 months of ownership.

 

[trigga71]

I replaced my Prius, Not saving but just about braking even. But when its paid off ill be free...at least when I get solar.
My Prius had almost 300k miles and was a great car, i wouldn't hesitate to get another. I knew a time would come when it broke and would be basically worthless so I got my S and sold it. I also got my S to be greener makes me feel good and now when taking trips gas money doesn't matter. Thats extra fun money!

 

[GoBlue88]

Consider driving an EV also as an insurance policy to all that is going on in the Middle East and Russia. Not a doomsdayer, but I believe the Global fuel market is more vulnerable than we are led to believe.

Yeah. Getting enough Americans on EVs to eliminate our need for foreign oil and relying on domestic supply only would be huge.

 

[Rebel44]

Numbers look pretty good here in EU despite no direct support from government:

gas prices are currently around $7 per gallon
I drive almost 15K miles per year
cost of KWh is around $0.12

Despite driving pathetic small Fiat that have pretty good fuel efficiency (52 mpg (US)), switching to EV will result in direct savings of around $2000 per year + because driving will become very cheap I will drive more than I do now + Model3 will be much better car than my current Fiat.

Only reason why I dont have Leaf right now is that my commute to work and back home is 63 miles and after a few years of driving it I would likely not be able to make it home (during winter).

 

[Mr X]

Over time it will, and the more you drive the more you save.


And to state the obvious gas won't last forever, so convert over, get all the proper charging infrastructure set up and your good to go for a sustainable driving future.

 

[liuping]

Yeah. Getting enough Americans on EVs to eliminate our need for foreign oil and relying on domestic supply only would be huge.

The problem is that there is not really a "domestic supply" in a free market.

If Saudi Arabia stopped producing tomorrow, we'll still have sky high gas prices and/or lines even if our production matches our use, since Shell and Exxon will sell oil drilled here to any country that pays.

For that to change, the government would need to nationalize the oil companies, but that's not like to ever happen here.

 

[David_Cary]

Something to consider. NJ may not have irrational electric rates forever. Electric rates are high to discourage use. But driving an EV is better so its use should be encouraged - eventually NJ should come around. Hahahahah - like rational and NJ ever go together. But you might move....

NC off peak $.05.

The one possible negative is that government (ie EPA) can actually make electricity costs rise faster than gas. As the renewable requirements increase, they require significant capital expenditures which have to be paid by rate payers. It is one of the reason blue states generally have higher electric rates (unless they have a lot of hydro). Since the EPA is basically making red states a little blue in this area, electric rates may go up faster than gas. Irrational - sure. Government fiat is often irrational.

Rational would equal gas prices going up faster than electric but both need to increase faster than inflation.

 

[CHGolferJim]

NC off peak $.05.

David, which electric companies have that rate? My bill from Duke just shows $0.105 per kWh.

 

[mgboyes]

The economics in the UK are pretty clear cut:

[converted to USD and US gallons for ease of comparison]

Gas is $8.50 a gallon
Off peak electricity is $0.09 per kWh

So for me 15k miles is $5200 in gas or $525 in electricity.

And that's before the savings from free supercharging (plus the majority of public charging is free as well), car taxes, company car benefit charges, London congestion charges, maintenance, etc etc etc.

 

[tsla168]

i'm in NJ too and my electricity is 18c per kwh. flat rate too so no night savings. still, tesla costs about half of what gas cars cost in terms of energy.

 

[David_Cary]

David, which electric companies have that rate? My bill from Duke just shows $0.105 per kWh.

Answered by PM

 

[CliffG]

i'm in NJ too and my electricity is 18c per kwh. flat rate too so no night savings. still, tesla costs about half of what gas cars cost in terms of energy.

Also in NJ, I only charge at home (around 12c/kwh, flat rate - PSE&G doesn't make ToU attractive) during the winter, to allow pre-heating in the morning. The rest of the time, I'm charging at work for $0/kwh (all solar, btw).

Just sayin'... as noted earlier, everyone's circumstances seem to be very different, and it's hard for a private individual to justify a Tesla (at least a ModS) on the basis of fuel savings.

 

[CHGolferJim]

......and it's hard for a private individual to justify a Tesla (at least a ModS) on the basis of fuel savings.

Would you say it depends on what the S is being compared to? For a person that keeps a car 5-7 years and drives at least 15k miles/year, seems like the total cost of ownership justifies an S vs. a new mid-level 3 series or E class straight up since you get a better car for about the same cost. Most of the difference is fuel savings?

 

[Merrill]

To me it is just the icing on the cake, you get to drive a beautiful, technically advanced car that is fun to drive and handles very well. Then you save money on buying gas and do not have to support the petroleum companies. I save over $2100 on gas each year.

 

[Tasdevil]

Gas is $8.50 a gallon
Off peak electricity is $0.09 per kWh

No wonder elon is optimistic that the UK could be a massive tesla market

Australia is $6 a gallon and $0.12 per kWh for off peak

 

[CliffG]

Would you say it depends on what the S is being compared to? For a person that keeps a car 5-7 years and drives at least 15k miles/year, seems like the total cost of ownership justifies an S vs. a new mid-level 3 series or E class straight up since you get a better car for about the same cost. Most of the difference is fuel savings?

I guess you're right - if you're comparing an S against another, similarly priced car. Cost savings are always valuable. After I went through all those arguments with myself, though, I came to realize it was a more personal, aesthetic decision in my case.

 

[Treker56]

It absolutely does! Even factoring in charging losses our cost to do a 1,000 miles in our 60kWh per month is ~$25! Dominion Virginia Power has an EV plan with night rates of $5c / kWh. This does not include charging for fee at work or at the mall or Superchargers. For a similar car e.g. BMW 5 or Audi A6/7 it'd be setting us back at least $200 / month in gas!

 

[Kbsilver]

Also in NJ, I only charge at home (around 12c/kwh, flat rate - PSE&G doesn't make ToU attractive)

If your in PSE&G territory, it costs more than that. the 12C/kwh is the generation charge, there is still the 6c/kwh distribution/delivery charge. I was just saying that Tesla seems to make a big marketing deal on the energy savings, they even subtract the 'anticipated' savings from the monthly payments indicated (making it hard to tell what it really costs). Even if electricity were 100% free all the time, unless you drive LOTS of miles, or are comparing to a total PIG of a ICE vehicle, the fuel savings do not make up for the premium cost of the vehicle. Don't get me wrong, I agree there are may other reasons to purchase a Tesla. But for many (I am one of them), fuel savings alone really does not go vary far in the justification department.