Tom ===>> From ChatGPT AI ===>> To compare gas mileage (MPG) vs. electric vehicle efficiency (MPGe or kWh per mile) and calculate the payback period in miles and electricity costs, we can use the following formulas:
Payback in Miles (Break-even Mileage)This formula calculates how many miles you need to drive for the EV to offset its higher upfront cost compared to a gas vehicle.
Break-even Miles=EV Cost-Gas Car Cost(Miles per Gallon×Gas PriceMiles Driven-Miles DrivenMiles per kWh×Electricity Price)\text{Break-even Miles} = \frac{\text{EV Cost} - \text{Gas Car Cost}}{\left( \frac{\text{Miles per Gallon} \times \text{Gas Price}}{\text{Miles Driven}} - \frac{\text{Miles Driven}}{\text{Miles per kWh} \times \text{Electricity Price}} \right)}Break-even Miles=(Miles DrivenMiles per Gallon×Gas Price?-Miles per kWh×Electricity PriceMiles Driven?)EV Cost-Gas Car Cost?Where:
- EV Cost = Initial purchase price of the EV
- Gas Car Cost = Initial purchase price of the gas vehicle
- Miles per Gallon (MPG) = Fuel efficiency of the gas vehicle
- Gas Price = Cost per gallon of gasoline
- Miles per kWh = Efficiency of the EV (miles per kilowatt-hour)
- Electricity Price = Cost per kWh
Payback in Electricity Cost SavingsTo calculate how much an EV saves in fuel costs per mile:
Savings per Mile=Gas PriceMPG-Electricity PriceMiles per kWh\text{Savings per Mile} = \frac{\text{Gas Price}}{\text{MPG}} - \frac{\text{Electricity Price}}{\text{Miles per kWh}}Savings per Mile=MPGGas Price?-Miles per kWhElectricity Price?To find the miles needed to break even on cost difference:
Break-even Miles=EV Premium CostSavings per Mile\text{Break-even Miles} = \frac{\text{EV Premium Cost}}{\text{Savings per Mile}}Break-even Miles=Savings per MileEV Premium Cost?Example CalculationAssume:
- EV Cost: $40,000
- Gas Car Cost: $30,000 (so, EV premium is $10,000)
- Gas Car MPG: 30 mpg
- Gas Price: $3.50 per gallon
- EV Efficiency: 4 miles per kWh
- Electricity Price: $0.15 per kWh
Step 1: Cost per mile- Gas Car: $3.50 / 30 mpg = $0.1167 per mile
- EV: $0.15 / 4 miles per kWh = $0.0375 per mile
- Savings per mile: $0.1167 - $0.0375 = $0.0792 per mile
Step 2: Break-even MileageBreak-even Miles=10,0000.0792=126,262 miles\text{Break-even Miles} = \frac{10,000}{0.0792} = 126,262 \text{ miles}Break-even Miles=0.079210,000?=126,262 milesSo, at 126,262 miles, the EV saves enough in fuel costs to offset the higher purchase price.
Would you like an interactive calculator for this? ??? |
