EV Home Charger Payback
Cost a home charger install and its payback against gas.
About EV Home Charger Payback
The installation outlay is compared against the yearly fuel saving switching from gas to home-charged electricity, giving the time to break even. The install cost looks large, but a heavy commuter often recovers it within a few years of fuel savings, making it a rational investment.
Formula
EV Home Charger Payback
Payback = install cost / (gas annual - electric annual)
- payback
- Years of fuel savings to recover the install cost
Worked example
With the default values below, EV Home Charger Payback returns Installation Total of $1,200.00. Change any input above and every figure here is recalculated in your browser.
Inputs used
- Charger priceminimum 0
- 400
- Installation costminimum 0
- 800
- Miles per yearminimum 0 mi
- 12,000 mi
- EV efficiencyminimum 0.1 mi/kWh
- 3.5 mi/kWh
- Electricity rateminimum 0.001 $/kWh
- 0.14 $/kWh
- Gas car MPGminimum 0.1 mpg
- 28 mpg
- Gas priceminimum 0.001 $/gal
- 4 $/gal
Results
- Installation Total
- $1,200.00
- Annual Charging Cost
- $480.00
- Annual Gas Cost
- $1,714.29
- Charger Payback
- 1.0 yrs
Step by step
- 1Values used
- 2EV Home Charger Payback
- 3Installation Total= 1,200.00
- 4Annual Charging Cost= 480.00
- 5Annual Gas Cost= 1,714.29
- 6Charger Payback= 1.0 yrs
Assumptions and limits
- The result is derived only from the 7 inputs listed above. Anything not among them is not part of the calculation.
- In particular, this calculator does not take inflation or tax into account.
- Figures are rounded for display to 2 decimal places, so totals built from several rounded parts can differ slightly from the unrounded arithmetic.
How these calculators are built and tested is described on the Methodology page. If a figure looks wrong, please report it.
Frequently Asked Questions
How is EV Home Charger Payback calculated?
Payback = install cost / (gas annual - electric annual) The installation outlay is compared against the yearly fuel saving switching from gas to home-charged electricity, giving the time to break even.
Why does EV Home Charger Payback matter?
The install cost looks large, but a heavy commuter often recovers it within a few years of fuel savings, making it a rational investment.
What values do I need to enter?
This calculator takes 7 inputs: Charger price, Installation cost, Miles per year, EV efficiency, Electricity rate, Gas car MPG, Gas price. The pre-filled defaults are a realistic starting point — replace them with figures from your own environment for a result you can act on.