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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

    Joined:
    Apr 14, 2014
    Messages:
    23
    Location:
    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

    Joined:
    Oct 28, 2012
    Messages:
    5,793
    Location:
    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

    Joined:
    Jun 18, 2014
    Messages:
    102
    Location:
    Sydney Australia
    I have found a formula of cost savings from your own Tesla site in the United States.

    Here is the URL link http://www.teslamotors.com/goelectric#savings

    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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