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Real world savings numbers

Discussion in 'Model S: Driving Dynamics' started by Patrick W, Oct 2, 2015.

  1. Patrick W

    Patrick W Active Member

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    After reading some cost comparisons here on the forums I thought I'd post some of my own real numbers. Who knows, maybe they'll help someone here that's on the fence to pull the trigger. :)

    I've had my S since April so pulled my electric bills and credit card statements covering that period this year and the same period last year.

    Then compared the two and really like what I saw.

    This year I paid about $92 more for electricity than during the same period last year. The increase makes sense because I charge at home a lot.

    The good part was when I compared gasoline costs. Even though I still drive my ICE vehicle when I need to haul stuff I still spent just over $820 less this year than last.

    So basically over the 5 months I've had the S electricity is up less than $100 but fuel is down (way down) over $800.

    Just over $700 savings in just 5 months. If I can keep that up, even if fuel costs don't go up (which I doubt) I should be able to plan on saving around $1,500 per year.
     
  2. Jaff

    Jaff Active Member

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    Thanks for posting this Patrick...just curious, roughly how many miles would you normally drive in a year?
     
  3. CHG-ON

    CHG-ON Still in love after all these miles

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    Once I got the EV rate plan in CA, the first month of ownership, my electric actually dropped 100/mth! So not only am I saving 150 or so in gas, but another 100 on top that. So 3k/yr. Pretty cool.
     
  4. mmccord

    mmccord Member

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    I keep meticulous financial records, but hadn't looked at this since I got my S in May. I've now had it 5 months. Here are the comparisons between the last 5 months and the same period in 2014:

    2014: $3,258 on gasoline, $780.38 in electricity
    2015: 80.68 on gasoline (must have gassed up my wife's truck twice or so all summer), $126 on paid EV charging (some of my travelling requires paid chademo chargers), $822.52 on electricity

    Totals:
    2014: 4,038.38
    2015: 1,029.20

    Just over 3k in savings in 5 months, or $600/month. Doesn't pay for the car, but sure helps. :)
     
  5. S4WRXTTCS

    S4WRXTTCS Active Member

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    I can't compare because when doing the math I realized not only did I fail to get all the numbers, but the very element of getting the Tesla completely changed the game.

    I put way more miles on the Tesla within the first 4 months of ownership than I would within an entire year of my other car. I go places with it that I simply wouldn't go in my other vehicle.

    The other element is a good portion of the miles on the Tesla was paid for by supercharging, and that was included with the car. I failed to record the miles provided by supercharging versus the miles provided by home charger. So I can only do a rough approximation based on my commute being 20 miles per day and the supercharger that I normally go to on my way south 100 miles away.

    With supercharging I calculated my cost so far at 1.25 cents per mile, and I averaged 2300 miles per month.

    With my Jeep the cost per mile is around 17 cents or so (gas tax around here is expensive).
     
  6. Patrick W

    Patrick W Active Member

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    Hi Jaff,

    Your question caused me to do more than the “back of the envelope” calculations included in my initial post. A more detailed look shows I’m doing even better than I thought.

    Cost of gasoline for my trusty 20 year old Toyota pickup between the end of April and the first of October 2014 came to $928.54 US.

    During that same time this year (the time I’ve had the Model S) I filled the truck once for $29.00.

    So I’ve spent $899.54 less for gas this year.

    Meanwhile electricity during that period increased $64.60 this year over last.

    Leaving a net savings this year of $834.94.

    And if that wasn’t good enough I see (per your question) that I’ve put 2,245km (~1395mi) more on the S than I did on the truck.

    Drive much more, pay much less.

    Thank you Mr. Musk.

    Now if I could just get a ride on one of his rockets…

    +++++
    Additional note: After receiving the famous “The Best Way to Charge Your Model S” email in August I have gone from using the local supercharger twice a week to once a week and my electric bill has gone up about $20 more per month. But even with that increase I’m still coming out way ahead of my old liquified dinosaur days.
     
  7. jerry33

    jerry33 S85 - VIN:P05130 - 3/2/13

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    Prius $6652.42 over 146,689 miles. Model S $1440 over 57,700 miles. 4.5 cents per mile vs. 2.5 cents per mile.

    Model S $1440 was taken from the kWh/mi on the screen using $0.10/kWh as the cost. Electricity cost has been ~$0.09/kWh. Over 10% are SC miles. These would cover pre-warming and charging losses.
     
  8. vitaliy

    vitaliy Member

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    I will be charging for free at work, so after running my numbers, I expect to save $1,800/year vs my 2014 diesel VW Beetle =)
     
  9. mmccord

    mmccord Member

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    You guys must not drive very much. I fill(ed) up in NJ and still spent $6000 on gas in 2014 & $8000 in 2013.
     
  10. dfdtruckie

    dfdtruckie Member

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    I love this thread!!! I was in Alaska a while ago and gas was approaching $5/gal. Imagine that savings
     
  11. Cosmacelf

    Cosmacelf Well-Known Member

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    Yes, but what was the cost of electricity in Alaska?

    But yes, the cost savings are very, very real. In my case, since I had a large household electric bill and San Diego gives you a special EV rate, I calculated that my car would actually pay for itself in 10 years. Yep, free Tesla after 10 years.
     
  12. JenniferQ

    JenniferQ Supporting Member

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    In San Diego, not only do we have the highest electricity rates in CA, but we also have some of the highest gas prices. Currrently about 3.50/gallon and only 1.87 in Austin where my family lives. And we were paying about 1/3 less for electricity there, too. Ah, that sunshine tax!:crying:
     
  13. S'toon

    S'toon Knows where his towel is

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    Keep Austin weird.
     
  14. liuping

    liuping Active Member

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    Yes, but adding solar works really well here. :)

    With net metering credits and EV time of use rates, they credit you $0.49 per kWh you put on the grid during peak rate period (12-5pm) and charge you $0.17 for each kWh you use super off peak (midnight-5am).

    A system costing less than $8k can cover the cost of driving 16k miles a years for 30 years.
     
  15. CHG-ON

    CHG-ON Still in love after all these miles

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    Update to my original cost savings. When I bought the car, I was driving 110+mi/day and spending 650/mth for gas. Which is one of the reasons I bought her. Then I got a new job very close to home. When I had the commute, It only cost me 105/mth to charge, saving 545/mth or 6,600/yr. That's compelling.
     
  16. JenniferQ

    JenniferQ Supporting Member

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    Would love to do that if only my house would accommodate solar panels. Lucky you!
     
  17. yo mama

    yo mama Supporting Member

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    Or perhaps prior vehicles were relatively fuel efficient. So far I've saved about $300 a months in gas getting rid of my V8 Toyota 4Runner. That was my daily driver. I don't have much of a commute but we preferred driving that as the family truckster for trips with wife and kids
     
  18. jaguar36

    jaguar36 Active Member

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    Just to put a bit of a damper on everyone's excitement here, where I live in NJ, regular gas is about $1.80 a gallon, and electricity is about $0.19/kWhr So we aren't saving a significant amount.
     
  19. CHG-ON

    CHG-ON Still in love after all these miles

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    #19 CHG-ON, Oct 8, 2015
    Last edited: Oct 9, 2015
    I mentioned my longer commute earlier. That has now changed to a much shorter commute.

    I am fortunate in CA, due to the EV charging incentives. When I signed up for the new plan, my off-peak rate dropped to $.09/kWh, so I now have great savings. I changed my energy usage habits and now run everything during off-peak (charging, hot tub-it is CA after all, washer, dryer, dishwasher, etc), which has resulted in my bill dropping $100/mth compared to before I got the MS. I am a happy camper. The only issue is that I have to be careful to not use energy during the peak periods, where the rate is $.43 (yikes!). But I live alone, so it is very easy for me manage. Not so much if you have a house full of kids.

    I now save about 260/mth compared to gas costs and not having the EV rate.

     
  20. Cyclone

    Cyclone Cyclonic Member ((.oO))

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    I am at around $500 savings over 5k miles in my Model S vs. my 4Runner. Gas was around $2.30/gal over the summer ($1.78 now) and I pay $0.093 per kWh.
     

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