Close to a $2000 annual fuel savings from my Mach-E!

[Papa T]

I have a couple of weeks off for the Holidays, and I'm starting to get a little bored, LOL. So, I wondered what my fuel savings has been so far.

I have a ChargePoint charger that keeps up with my monthly charging costs, using my local power companies' rates. I received my vehicle right at the end of March, so I'm pretty much completing 9 months of ownership. Also, 99% of my charging is done at home, nightly.

I traded in a BMW X1 that required premium gas, so that is putting a bit of extra weight into my calculations, but my last three cars have all required premium, so for me, this should be a pretty accurate picture. I have a bit of a commute, but not as bad as some I've seen on here, at around 70 miles per weekday. My odometer currently is sitting at 15022. So, after removing one 1100-mile road trip in July (just did this because I thought the road trip skewed the numbers slightly), I am averaging 1,546.9 miles per month, or 18,562.8 miles per year.

I have spent $439 so far, charging at home for my first nine months. Extended out to a year that equals $585.33. My X1 got about 27 miles per gallon on the same daily commute, and I went with the current cost of premium gas in my area at about $3.70 per gallon - 18562 miles divided by 27 mpg gets me to roughly 687.5 gallons per year times $3.70 per gallon, for a total of $2,543.77 annually in gas costs. Subtract the $585 that my electrical charging is running me, and I come to a savings of about $1,958 per year.

Sorry for all of the math, but I wanted to show as much of it as possible.

Couple of caveats that I recognized as I was doing this. I'm excluding what is probably three of the coldest months from my calculations, and the winter down here in Alabama has been exceedingly mild this year. All of that is probably skewing my numbers a little more positively, but still this was a fun little exercise for me. I'm using it to help justify my purchase, which was definitely more of a want than a need.

Anyway, for someone who commutes quite a bit to work, that should be a hell of a selling point for EV's. $166 per month that you can put toward other bills or savings, or close to a $10,000 savings over a five-year period, that you could be investing. That doesn't even take into account oil and brakes.

Nine months and 15,000 miles in, and I am still 100% sold on this being my favorite car that I have owned in my 35 years of car ownership.

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[Carsinmyblood]

or more simply....

My Mazda CX5 used to cost 12.4 cents/mile for fuel at 3.10/gal.
My MME costs 3.2 cents/mile for electricity at 0.11/kWh.

A friend was so skeptical at those figures I had to do the math on paper so he could 'get it'.

 

[Blue highway]

Charging at home is much cheaper than buying gas. And unless I’m road tripping much more convenient.


*** Internal Combustion - for people that can’t distinguish the difference between speed and sound ***. ?

 

[2FlyMache]

I have a couple of weeks off for the Holidays, and I'm starting to get a little bored, LOL. So, I wondered what my fuel savings has been so far.

I have a ChargePoint charger that keeps up with my monthly charging costs, using my local power companies' rates. I received my vehicle right at the end of March, so I'm pretty much completing 9 months of ownership. Also, 99% of my charging is done at home, nightly.

I traded in a BMW X1 that required premium gas, so that is putting a bit of extra weight into my calculations, but my last three cars have all required premium, so for me, this should be a pretty accurate picture. I have a bit of a commute, but not as bad as some I've seen on here, at around 70 miles per weekday. My odometer currently is sitting at 15022. So, after removing one 1100-mile road trip in July (just did this because I thought the road trip skewed the numbers slightly), I am averaging 1,546.9 miles per month, or 18,562.8 miles per year.

I have spent $439 so far, charging at home for my first nine months. Extended out to a year that equals $585.33. My X1 got about 27 miles per gallon on the same daily commute, and I went with the current cost of premium gas in my area at about $3.70 per gallon - 18562 miles divided by 27 mpg gets me to roughly 687.5 gallons per year times $3.70 per gallon, for a total of $2,543.77 annually in gas costs. Subtract the $585 that my electrical charging is running me, and I come to a savings of about $1,958 per year.

Sorry for all of the math, but I wanted to show as much of it as possible.

Couple of caveats that I recognized as I was doing this. I'm excluding what is probably three of the coldest months from my calculations, and the winter down here in Alabama has been exceedingly mild this year. All of that is probably skewing my numbers a little more positively, but still this was a fun little exercise for me. I'm using it to help justify my purchase, which was definitely more of a want than a need.

Anyway, for someone who commutes quite a bit to work, that should be a hell of a selling point for EV's. $166 per month that you can put toward other bills or savings, or close to a $10,000 savings over a five-year period, that you could be investing. That doesn't even take into account oil and brakes.

Nine months and 15,000 miles in, and I am still 100% sold on this being my favorite car that I have owned in my 35 years of car ownership.

I've got just a little bit longer commute of around 95 miles a day. My Lexus was a hybrid but still only got around 28 mpg. I've had my car since June 1st and my usage has been $402 dollars. I've seen around $1260 in savings over the 7 months. One thing you forgot to include in your savings were service visits for oil changes. I've done one service that cost $24 so far at 10K miles

 

[SnBGC]

I have a couple of weeks off for the Holidays, and I'm starting to get a little bored, LOL. So, I wondered what my fuel savings has been so far.

I have a ChargePoint charger that keeps up with my monthly charging costs, using my local power companies' rates. I received my vehicle right at the end of March, so I'm pretty much completing 9 months of ownership. Also, 99% of my charging is done at home, nightly.

I traded in a BMW X1 that required premium gas, so that is putting a bit of extra weight into my calculations, but my last three cars have all required premium, so for me, this should be a pretty accurate picture. I have a bit of a commute, but not as bad as some I've seen on here, at around 70 miles per weekday. My odometer currently is sitting at 15022. So, after removing one 1100-mile road trip in July (just did this because I thought the road trip skewed the numbers slightly), I am averaging 1,546.9 miles per month, or 18,562.8 miles per year.

I have spent $439 so far, charging at home for my first nine months. Extended out to a year that equals $585.33. My X1 got about 27 miles per gallon on the same daily commute, and I went with the current cost of premium gas in my area at about $3.70 per gallon - 18562 miles divided by 27 mpg gets me to roughly 687.5 gallons per year times $3.70 per gallon, for a total of $2,543.77 annually in gas costs. Subtract the $585 that my electrical charging is running me, and I come to a savings of about $1,958 per year.

Sorry for all of the math, but I wanted to show as much of it as possible.

Couple of caveats that I recognized as I was doing this. I'm excluding what is probably three of the coldest months from my calculations, and the winter down here in Alabama has been exceedingly mild this year. All of that is probably skewing my numbers a little more positively, but still this was a fun little exercise for me. I'm using it to help justify my purchase, which was definitely more of a want than a need.

Anyway, for someone who commutes quite a bit to work, that should be a hell of a selling point for EV's. $166 per month that you can put toward other bills or savings, or close to a $10,000 savings over a five-year period, that you could be investing. That doesn't even take into account oil and brakes.

Nine months and 15,000 miles in, and I am still 100% sold on this being my favorite car that I have owned in my 35 years of car ownership.

Nice!
Driving EV can be a very good financial decision. I have saved $5200 in fuel costs since I took delivery. Compared to my diesel truck, which was my daily driver before I started driving electric.

On top of that, I get to claim mileage reimbursement for business use. Which for 2021 was $6080.

 

[Papa T]

Charging at home is much cheaper than buying gas. And unless I’m road tripping much more convenient.


*** Internal Combustion - for people that can’t distinguish the difference between speed and sound ***. ?

I'm not sure the "convenience factor" can be overstated here. I don't know how many times I put off getting gas, because I always seemed to be in a hurry to get somewhere. Then finally one day, I HAVE TO stop, and it just always seemed to be a bit of a cramp.

People worry about the extended time to charge up while traveling, but, at least for my use scenario, the convenience of plugging up when I get home and never having to stop for gas any more is huge.

 

[Papa T]

I've got just a little bit longer commute of around 95 miles a day. My Lexus was a hybrid but still only got around 28 mpg. I've had my car since June 1st and my usage has been $402 dollars. I've seen around $1260 in savings over the 7 months. One thing you forgot to include in your savings were service visits for oil changes. I've done one service that cost $24 so far at 10K miles

You are correct. I was simply focusing on my fuel savings.

I have grown attached to the one pedal driving, and I think I rarely use my friction brakes any more. I am interested to see how many more miles I am likely to get out of a set of brake pads as well. My understanding is that we might go through tires a little more quickly, though.

 

[deadduck]

I got curious, because I thought my numbers wouldn't be close to that good but even for me, at .31/kwh it would still be a $900/year savings at that rate. This is possible by the fact that unleaded is $4.40/gal in these parts right now.

Basically, and I do drive roughly the same mileage as the OP in a normal year,

18562 / 31.5 MPG = 589 Gallons
589 * 4.4 = $2,592

18562 / 3.4 miles / kwh = 5459 kwh's
5459 * $.031 = $1,692

On a super cheap PGE plan, which eats back some of this because the regular rates rise,

5459 * $.14 = $764.

This will all last until California drops a surcharge on EV's at some point.

It doesn't come close to justifying an EV vs ICE on a cost basis, but it is a nice bonus.

 

[Brutakus]

I'd need to figure out how much I've spent on charging in total but I'll just use the EA Pass+ price of $0.31/kW- but I switched over from a 2020 Charger Scat Pack. A premium gas guzzler that got a whopping 12-13mpg. Averaged probably $3.5/gal filling up.

Comes out to a whopping $0.29/mile in my Scat Pack while my MME is coming out to $0.08-0.09/mile (in good weather- probably doubles in winter) while SOLELY using EA chargers. Would be even cheaper if my apartment had charging.

MME-
$0.31/kWh
3.5 Miles/kW in spring/summer/fall
68kWh battery
$0.088/mile

Charger-
$3.5/gal
18.5Gal Tank
12 mpg year round
$0.29/mile

Window Sticker advertises $4000 in gas savings in your first 5 years and by the looks of it, I'm sitting at about $2000 in gas savings in my first year!

 

[timbop]

*** Internal Combustion - for people that can’t distinguish the difference between speed and sound ***

Definitely! My neighbor's son used to constantly rev his POS 1970's dodge for hours in the driveway while he pretended to work on it. Used to drive me nuts, which is probably why he used to do it.

Anyway, I know there is a backlash against BEV's that is building momentum right now but the simple truth is that they are just plain better cars. Not only are they cheaper to run and maintain, they are more fun without being obnoxious.

 

[abr]

I have a couple of weeks off for the Holidays, and I'm starting to get a little bored, LOL. So, I wondered what my fuel savings has been so far.

I have a ChargePoint charger that keeps up with my monthly charging costs, using my local power companies' rates. I received my vehicle right at the end of March, so I'm pretty much completing 9 months of ownership. Also, 99% of my charging is done at home, nightly.

I traded in a BMW X1 that required premium gas, so that is putting a bit of extra weight into my calculations, but my last three cars have all required premium, so for me, this should be a pretty accurate picture. I have a bit of a commute, but not as bad as some I've seen on here, at around 70 miles per weekday. My odometer currently is sitting at 15022. So, after removing one 1100-mile road trip in July (just did this because I thought the road trip skewed the numbers slightly), I am averaging 1,546.9 miles per month, or 18,562.8 miles per year.

I have spent $439 so far, charging at home for my first nine months. Extended out to a year that equals $585.33. My X1 got about 27 miles per gallon on the same daily commute, and I went with the current cost of premium gas in my area at about $3.70 per gallon - 18562 miles divided by 27 mpg gets me to roughly 687.5 gallons per year times $3.70 per gallon, for a total of $2,543.77 annually in gas costs. Subtract the $585 that my electrical charging is running me, and I come to a savings of about $1,958 per year.

Sorry for all of the math, but I wanted to show as much of it as possible.

Couple of caveats that I recognized as I was doing this. I'm excluding what is probably three of the coldest months from my calculations, and the winter down here in Alabama has been exceedingly mild this year. All of that is probably skewing my numbers a little more positively, but still this was a fun little exercise for me. I'm using it to help justify my purchase, which was definitely more of a want than a need.

Anyway, for someone who commutes quite a bit to work, that should be a hell of a selling point for EV's. $166 per month that you can put toward other bills or savings, or close to a $10,000 savings over a five-year period, that you could be investing. That doesn't even take into account oil and brakes.

Nine months and 15,000 miles in, and I am still 100% sold on this being my favorite car that I have owned in my 35 years of car ownership.

The savings are even greater when your cost of electricity is $0.00 / kWh!

My solar installation covers all of my electricity needs . . . . and since all my charging is done at home (except for the occasional road trip).
Yes, I have some capital costs from the installation, but with a payback period of 6+ years, that is covered quickly, not to mention the capital cost is really zero since it increased the value of my house.

 

[Papa T]

The savings are even greater when your cost of electricity is $0.00 / kWh!

My solar installation covers all of my electricity needs . . . . and since all my charging is done at home (except for the occasional road trip).
Yes, I have some capital costs from the installation, but with a payback period of 6+ years, that is covered quickly, not to mention the capital cost is really zero since it increased the value of my house.

That is awesome and is what I would REALLY like to do next. I love the idea of driving "for free."

I have not received an actual quote from anyone, but I have priced out everything myself, it looks like it would be quite some time for me to be able to recover the costs of a solar installation. I am still very interested even though it could be a bit of a loss for me.

I downsized homes recently to a very small two-bedroom home with very efficient heating and cooling and great insulation, and my power bills are just never very high.

Also, Alabama has very few decent incentives, and the main power provider (Alabama Power) has been allowed, so far (there is a current lawsuit), to charge an extra monthly fee for homes with solar power. They claim it is necessary to cover costs of having back-up power available to those customers when their solar panels are not producing.

 

[abr]

That is awesome and is what I would REALLY like to do next. I love the idea of driving "for free."

I have not received an actual quote from anyone, but I have priced out everything myself, it looks like it would be quite some time for me to be able to recover the costs of a solar installation. I am still very interested even though it could be a bit of a loss for me.

I downsized homes recently to a very small two-bedroom home with very efficient heating and cooling and great insulation, and my power bills are just never very high.

Also, Alabama has very few decent incentives, and the main power provider (Alabama Power) has been allowed, so far (there is a current lawsuit), to charge an extra monthly fee for homes with solar power. They claim it is necessary to cover costs of having back-up power available to those customers when their solar panels are not producing.

Charging electric vehicles does take a lot of electricity . . . makes your payback period a lot shorter if you charge almost exclusively at home!
Obviously these are all purely economic reasons for renewable energy. The environmental reasons should be self-explanatory.

 

[Jimrpa]

The funny thing is that quantitative factors didn’t come into play when I pulled the trigger on my Mustang Mach E. I watched the webcast and said “wow! Someone finally figured out ‘the formula’! An attractive, engaging, practical, affordable electric car!” No-brainer. I always knew that despite current technology and infrastructure limitations, electric was on the cusp of practicality, so the Mustang Mach E convinced me it was time and I jumped (fully, I might add, it’s my only car). And yes, I knew there would be operating cost efficiencies, and they’ve been close to about $1,509 / year).

 

[krafty81]

Definitely! My neighbor's son used to constantly rev his POS 1970's dodge for hours in the driveway while he pretended to work on it. Used to drive me nuts, which is probably why he used to do it.

Anyway, I know there is a backlash against BEV's that is building momentum right now but the simple truth is that they are just plain better cars. Not only are they cheaper to run and maintain, they are more fun without being obnoxious.

This. Every time I hear an obnoxious car near my house, I think about how I can beat him off the line without a sound...

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