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How much I will save?

Discussion in 'Energy, Environment, and Policy' started by mmcmonster, Jul 19, 2014.

  1. mmcmonster

    mmcmonster Member

    Apr 14, 2014
    Allentown, PA
    I created a simple formula to figure out how much I save in my Tesla compared to my previous car.

    Gas Car variables:
    A = Fuel consumption in miles/gallon
    B = Cost of fuel in dollars/gallon

    Electric Car variables:
    D = Fuel consumption in Wh/mile
    E = Cost of fuel in Dollars/KWh

    Savings/mile = B/A - E*D/1000

    So, comparing my Model S to my previous 2013 BMW 328 xDrive, going 20,000 miles/year:
    (The fuel consumption for both the Tesla and the BMW were my real world fuel consumption. I drive aggressively in both, greater than 90% on highway miles)
    A = 28 miles/gal
    B = $4/gal
    D = 344 Wh/mile
    E = $0.12/kWH

    ((4/28)-((0.12*344)/1000))*20000 = $2031/year savings in fuel.
  2. yobigd20

    yobigd20 Well-Known Member

    Oct 28, 2012
    Skaneateles, NY
    For me, I also include EZpass savings (~$15/working day cheaper due to big green discounts which is almost $300/month). Also no more oil changes which at my mileage rate is about $30/month savings. And I now charge exclusively not at home so I don't pay a dime for electricity for the car anymore. In addition, my insurance rate is about $200/year cheaper than my range rover was.

    If I were to add it all up over the last 16 months and 51500 miles, the gas savings plus ezpass savings plus oil change savings plus insurance savings , I've probably saved between $15k-$16k. Those are purely monthly savings that will continue to rack up. And that's not even including the $7500 I got back from the fed nor the $7000 savings in sales tax that I didn't have to pay for EV in new jersey. Plus any time I had to get gas at WaWa in my prev vehicle I usually went inside to get junk food so I'm not doing that anymore either since I no longer need to stop for gas haha that's more $$ and even good for health :)
  3. lonewolf313

    lonewolf313 Member

    Jun 18, 2014
    Sydney Australia
    I have found a formula of cost savings from your own Tesla site in the United States.

    Here is the URL link

    Just click on the "savings" link which will take you to almost the bottom of the page. Scroll down a bit further

    Enter all your variations in costs and annual distance travelled . . . . . Your cost savings is automatically worked out

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