Electric vehicle savings calculator

Total savings represents both fuel and other running cost savings.

If this result is negative, this means that the electric vehicle may cost more in running costs and/or fuel in comparison to the selected petrol/diesel/hybrid vehicle.  

You can return to Step 1 or Step 2 to change any of the inputs to recalculate.

Fuel savings are based on the difference between petrol and electricity charging costs. 

If this result is negative, this means that the electric vehicle may cost more in charging than the petrol cost of the petrol/diesel/hybrid vehicle.

You can return to Step 2 to change any of the inputs to recalculate.  

You can use this calculator to compare a petrol, diesel or hybrid vehicle with an electric vehicle, with a build year of 2022 or 2023.

If your selection below is a Plug-in hybrid, we will not be able to calculate your savings at this time.

If ‘Solar’ is selected, we will assume that 50% of your energy consumption to charge your vehicle’s battery comes from your home solar panel system, reducing your charging cost and electric vehicle CO₂ equivalent emissions by half.

Estimated savings are based on the following logic:

Fuel Savings: Petrol/diesel/hybrid vehicle fuel cost – Electric vehicle charge cost

Where:

• Petrol/diesel/hybrid fuel cost: Cost per tank [fuel price x fuel tank capacity] × fuel tanks used [annual kilometres driven ÷ vehicle average distance per tank]
• Electric vehicle charge cost: Electricity price (per kWh) x electricity required [Electric vehicle energy consumption x annual kilometres driven]

Other savings: (Petrol/diesel/hybrid vehicle running costs + Petrol/diesel/hybrid vehicle insurance costs) – (Electric vehicle running costs + electric vehicle insurance costs)

This calculation does not include financing costs.

Electricity costs do not include daily supply charges.
 

Estimated environmental benefits are based on the following logic:

Emissions reduction: Petrol/diesel/hybrid vehicle annual CO₂ emissions - (Electric vehicle power grid consumption x Grid intensity scope 2 emission national average). Converted to tonnes.

Where:

• Petrol/diesel/hybrid vehicle annual CO₂ emissions: Petrol/diesel/hybrid vehicle emissions g/km x annual kilometres driven.
• Electric vehicle power grid emissions: Electric vehicle energy consumption wh/km x annual kilometres driven x national power grid intensity CO₂ emissions

Source information

• Kilometres driven per year: Assumptions have been made in line with the national average kilometres driven based on ABS Motor Vehicle Usage Survey 2020.
• Average fuel price per litre: National average price based on December 2022 ACCC Quarterly Report on the Australian petroleum market.
• Average electricity price (per kWh): National average price is sourced from the Australian Energy Market Commission’s 2021 Residential Electricity Price Trends Report.
• Grid Intensity scope 2 emission national average: The emissions factor has been sourced from the Australian National Greenhouse Accounts Factors 2022 and is the national average of emissions from consumption of purchased electricity from the power grid.
  

Other factors, including but not limited to your individual driving behaviour (such as where, when and how long you drive per year, as well as your driving style) and battery longevity will impact any potential monetary savings achieved by driving an electric vehicle relative to a petrol equivalent, as well as any reduction in CO₂e emissions.

State and territory governments across Australia have introduced a number of measures to make electric cars more attractive for drivers, which may include rebates, reduction in upfront costs and registration exemptions.

The rebates and eligibility criteria vary across different states/territories and could change further or be withdrawn at any time. It is important that you understand the rules which apply to your state or territory as the number of applications may be capped or restricted to a first time purchase.

To find out more and to see if you may be eligible, visit the government websites below.

State government websites:

• New South Wales
• Victoria
• Australian Capital Territory
• Tasmania
• Queensland    
• South Australia
• Northern Territory
• Western Australia

Running costs may include:

• Registration
• Roadside assistance
• Maintenance, repairs and servicing.

Running costs may include:

• Registration
• Roadside assistance
• Maintenance, repairs and servicing.

Other savings are based on the insurance and running costs you’ve provided.

If this result is negative, this means that the electric vehicle may cost more to run than the petrol/diesel/hybrid vehicle.

You can return to Step 2 to change any of the inputs to recalculate.

This estimate of your carbon footprint includes CO₂ emissions released from your vehicle’s tailpipe and CO₂ equivalent emissions from electricity used to charge your vehicle’s battery.

However, there are other emissions that could also be tied to your carbon footprint through vehicle ownership which are not captured in this estimate, including but not limited to other greenhouse gas emissions generated from the construction, delivery, and decommissioning of your vehicle.

If ‘Solar’ is selected as your charging option, we will assume that 50% of your energy consumption comes from your home solar panel system, reducing your CO₂ equivalent emissions from electricity used to charge your vehicle’s battery by half.

This estimate does not make any forecasts on changes in the CO₂ equivalent emissions from the power grid; therefore, the emissions factor remains constant over the selected observation period. The emissions factor has been sourced from the Australian National Greenhouse Accounts Factors 2022 and is the national average of emissions from consumption of purchased electricity from the power grid.

If this result is negative, this means that the electric vehicle may have more CO₂ emissions than the petrol/diesel/hybrid vehicle.

1 tonne of CO₂ is approximately:

5

Return economy flights from Sydney to Melbourne

You would need to travel on 5 return economy flights from Sydney to Melbourne in order to generate 1 tonne of CO₂e.¹

16%

Of annual energy used at home

16% of the total energy (natural gas and electricity) consumed for your average 3-person household in Australia would be equivalent to 1 tonne of CO₂e.²

120,000

Smartphone charges

It would take approximately 120,000 smartphone charges to generate 1 tonne of CO₂e.³

 

 

These equivalent calculations are estimates and are used for illustrative purposes only.

¹Toitū Envirocare Travel Calculator, results relate to the emission factors embedded in this calculator, accessed June 2023. This calculator allows travellers to calculate emissions for their domestic and overseas travel. The calculation is based on a travellers share of the emissions generated by the flight.

²Sourced from Australian Energy Regulator Electricity and Gas consumption benchmarks for residential customers 2020 and using emission factors from the Australian National Greenhouse Account Factors 2022.

³Sourced from US Environmental Protection Agency Greenhouse Gases Equivalencies Calculator - Calculations and References (accessed June 2023), and using emission factors from the Australian National Greenhouse Account Factors 2022. Calculation assumes 12Wh is required per common smartphone charge.