Calculating the potential fuel savings when switching from a gas vehicle to an electric vehicle involves comparing the annual fuel costs of both types of vehicles. This calculation takes into account factors such as fuel efficiency, energy costs, and annual driving distance.
The main formulas used in this calculation are:
1. Annual Gas Cost = (Annual Distance / Gas Fuel Economy) × Gas Price per Gallon
2. Annual Electric Cost = (Annual Distance / 100) × Electric Efficiency × Electricity Price per kWh
3. Annual Savings = Annual Gas Cost - Annual Electric Cost
Where:
Let's calculate the fuel savings for switching to an electric vehicle with the following parameters:
Step 1: Calculate Annual Gas Cost
Annual Gas Cost = (13,000 miles / 25 mpg) × $3.00/gallon = $1,560
Step 2: Calculate Annual Electric Cost
Annual Electric Cost = (13,000 miles / 100) × 30 kWh/100mi × $0.14/kWh = $546
Step 3: Calculate Annual Savings
Annual Savings = $1,560 - $546 = $1,014
Therefore, switching to an electric vehicle in this scenario would save approximately $1,014 per year in fuel costs.
The following diagram illustrates the concept of EV fuel savings:
This diagram visually represents the cost difference between operating a gas vehicle and an electric vehicle for a year, with the green arrow indicating the potential savings from switching to an electric vehicle.