Here's What It Costs To Charge a Tesla Monthly vs. Using Gas for a Honda Civic
Filling up your car is going to cost you money one way or another. For an electric vehicle, like a Tesla, you need to find a charging station to give your battery the juice it needs to operate. For other cars, like a Honda Civic, the price of gas can be fairly high if you are planning on getting a full tank at the pump.
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So let's do the math: read below to find out what it actually costs to charge a Tesla each month compared to the price of gas for a Honda Civic in the same month.
Joseph Nagle, head of Corporate Strategy at Pando Electric, broke down this question in a few ways, looking at monthly fuel costs, which will vary based on state, analyzing national costs versus two of the larger electric vehicles (EVs) states that also have a fairly wide variance between electricity pricing and gas.
Nagle outlined an example based on 1,000 miles driven each month, with Tesla Model 3 efficiency clocking in at approximately 4 miles per kWh and Honda Civic coming to 33 MPG combined. When it comes to national averages, Nagle listed the cost of electricity at 15 cents per kWh while gas came to about $3.75 per gallon.
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Looking at annual costs, Tesla Model 3's calculation is $37.50 per month (250 kWh x 15 cents), equaling $450 yearly and the Honda Civic calculation looks like $113.63 per month (30.3 gal x $3.75), equaling $1,363.56 yearly. This means that across the country, the savings go to Tesla at $76.13 a month, which equals $913.56 per year.
To further illustrate the cost comparison between a Tesla and Honda Civic, Nagle analyzed two states: California, which has a high-cost market for transportation expenses and Florida's lower-cost region for fuel.
In California, electricity costs on average 33 cents per kWh and gasoline is $4.78 per gallon. Examining annual vehicle costs in the state, the Tesla Model 3's bill comes out to $82.50 per month (250 kWh x 33 cents), equaling $990 a year, while the Honda Civic is $144.08 per month (30.3 gal x $4.78), equaling $1,728.96 a year. This means the Tesla has a savings of $61.58 a month or $738.96 per year.
Florida, on the other hand, has average costs of 16 cents per kWh for electrics and $3.08 per gallon for gasoline. Factoring the yearly vehicle costs in Florida would have a Tesla Model 3 amounting to $480 a year based on $40 per month (250 kWh x 16 cents) and a Honda Civic at $1,119.84 a year coming from $93.32 per month (30.3 gal x $3.08). Again, the Tesla wins with $53.32 per month, adding up to $639.84 a year.
In every scenario-national average, California's high-cost market and Florida's lower-cost region — Nagle had some insights to share. 'The Tesla Model 3 substantially outperforms the Honda Civic in terms of fueling costs. Even with California's significantly higher electricity prices, Tesla remains the cheaper choice monthly and annually,' Nagle said.
'This highlights a key advantage of EV ownership: regardless of location, driving electric consistently costs significantly less than fueling a gasoline-powered vehicle,' he added.
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This article originally appeared on GOBankingRates.com: Here's What It Costs To Charge a Tesla Monthly vs. Using Gas for a Honda Civic
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