Here's How Much Tesla Charging Actually Costs!

0:00 What It's Like to Never Buy Gas
3:27 Sponsor (Birch)
4:58 Tesla Charging Cost After 136,000 Miles

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For me, it’s been over 5 years since I bought gas, but in terms of average annual mileage it’s actually more like 10 years and in this video I’ll explain why that is and I’ll reveal how much it’s actually cost to charge my Tesla Model 3 along with how much money (and other things) that I’ve saved by not buying gas. My 2018 Tesla Model 3 just surpassed 136,000 miles, and that is an important milestone because the average driver in the US drives 13,500 miles per year so that means I’ve traveled the equivalent of 10 years of driving for the typical vehicle owner. My total charging cost up to this point in time can be a good estimate of what someone can expect to pay over the average lifetime ownership of an electric vehicle. It’s ironic that one of the biggest reasons that make people afraid to buy an electric vehicle is the transition to charging instead of filling up at the pump, when in reality, charging is possibly the best part about owning an EV. I got so fed up with gas that I spent way more money than I ever thought I’d spend on a car when I got my Tesla Model 3. Let’s get to my favorite part of drilling down into the numbers to calculate my total cost to travel the equivalent of 10 years of average driving in my Tesla Model 3 and compare it to what it would have cost in a comparable gas car. One of the few downsides is the additional cost of adding a home charger. Many EV owners can actually get by with just charging their car on a normal outlet if they have access to one such as in their garage, so there’s really no need to pay for an EV home charger in that case. I drive much more than the average driver so I need to charge my car faster than what a normal outlet provides so after receiving a 30% tax credit I ended up paying $940 for an electrician to install an EV charger in my garage, which falls within the average cost of an EV home charger installation. If we compare that to the fastest Toyota Camry model from the same year which averages 26 miles per gallon, the total gas cost to travel 136,000 miles at an average gas price of $3 per gallon would be $15,692. Maybe best of all, my battery health is at 95% and is still going strong after all these miles so if I indeed hit my goal of 10 years of ownership, that could be $22,000 in gas savings alone which is incredible. To top it all off, if you purchase a Model 3 before the end of the year and qualify for the full tax credit, the cost is only $33,000 which is about the same as a Toyota Camry.

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[Yanquetino]

Nice! I can tell you that, after 11 years and 140K miles, I've spent nearly $3K to "fuel" my EV. If I'd kept my previous Subaru instead, I calculate that I would've spent more than $23K.

[elindenstein]

The savings are great, but I really underestimated the convenience of home charging

[LeonardoCamargo]

What made the most sense for me was that charging my Model 3 at home I would go to the office and back, the companies would reimburse my commute per km which was roughly 4x what i spent charging off peak overnight at home. This meant i was actually making some extra money by driving the model 3 to work.
I paid for the biggest chunk of my car with those extra "reimbursements".

[TSLAaddict]

My ‘16 MX P90D has 273, 000+ miles. Has only lost 13% battery and I love not smelling gas. And the autopilot allows the driving to be tolerable. Have a business and that’s where all the mileage comes from. LOVE my Tesla!! Can’t imagine dealing with a gas car ever again.

[Rabs]

When fuel prices are even higher and you mostly charge with essentially free solar, the savings are even higher. Works out nearly $6000 a year for me with my Model 3 (Australian $). I do about 25000km a year.

[mikethepups]

While EV savings abound, another EV cost that some neglect to mention is that many states also charge an annual “EV” registration fee. This is done to help off-set the loss of gas-taxes made from ICE vehicles buying gasoline. In California, for example, this can be as high as $175 which is added to your annual license plate renewal fee.

[HikaruKatayamma]

I was going to get a 45A 22V port in the garage, but the 110V/15A charger does what I need for in-town. When traveling, I supercharge.

[Geckogold]

While the fuel savings and much lower maintenance are nice, the main reasons I bought my Model Y was because of the performance for the price, and especially the high crash safety ratings that all Teslas are known for. Obviously no one wants to be in an accident. But if you do get in one, they are some of the safest cars out there. This should be something to consider for folks that have small children.

And as a bonus, you have access to 4 of the car's cameras, so you also have video evidence from 4 different angles. So if that crash turns into a "he said, she said" thing, you can show the officer and insurance agents what happened, again from multiple angles. I'm sure they'll believe that over the other person's testimony.

[JeffDeWitt]

I'm still team gas... I've got gasoline in my blood, but I'm REALLY getting close to pulling the trigger on a Model 3. Test drove one recently and was really impressed, and the idea of charging at home and not having to get gas every few days... I have a 100 mile commute, is VERY appealing.

It doesn't hurt that I just found out most of the Smithfield restaurants have Superchargers, which seems like a really smart idea on Smithfield's part.

[landsoflumoria]

Thanks Andy! I’ve got a 2022 model 3 and my electricity rates are the same as yours, but we installed our own charger. This really give great insight into the savings over 200, 000+km’s (because I’m Canadian!). None of that included oil changes, air filters for ICE motors, transmission or differential failures or fluid changes. Just don’t scratch or get in an accident with the Tesla 😂

[TechbyParker]

Just got my Tesla. If it lasts 10 years, that will be well worth it to me.

[KevinIsenor]

Hi Andy - great video, very good analysis! I'm team ev but all has not been roses. I'm on my 3rd high voltage battery pack and my mileage is roughly 51, 000 miles. First replacement was an insurance claim as I was hit with a tie down strap from a transport truck, and the second pack just died for some unknown reason one year later. I have a 2019 dual motor with acceleration boost. You just can't beat charging at home and the supercharger experience has been excellent. In fact my wife and I drove from Ottawa Canada to Wasau Wisconsin this summer in the Tesla, what a great drive and absolutely had no issues with supercharging. (other than being iced but not too much delay)
I'm also on my third set of tires and my brakes need an overhaul. (new rotors and pads - rarely use them - max regen) Both of my tail lights have needed replacement due to condensation and the paint has been quite a disappointment (lots of chips and peeling) considering its cost. In any event I have looked at other ev's but refuse to replace the Tesla because of the charging infrastructure. The NACS is slowly being adopted so possibly our options with other manufacturers will increase, but still waiting on that.

[mdle]

I bought my Model Y 4 months ago and loving it. Save lot of money. Car is high tech and top safety rate. Folks not wanting to convert to EV is because they are in denial.

[j.p.stephens]

I just ordered & took delivery of my 2023 Model 3 in Nashville TN using your referral code! Your videos on battery degradation and gas savings sold me on going electric. Hopeful that my model 3 lasts just as long as yours!

[LifeLongLearner-omjx]

When people start getting into the weeds about EV efficiency losses do they not realize that only ~20% of the energy in gas actually gets to the wheels? Roughly 80% or more of the energy in gas is lost to heat/friction and that’s under ideal conditions.

[marcrodriguez]

For your $.08/kW cost are you including all the costs of electricity that get added to your bill? Distribution, fees, etc? My basic electric costs are also about .08/kW, but when you add the additional costs the utilities add, it's more like

[denismaximov]

Your electricity is almost free. Where I live, Bay Area, California, PG&E charges $0.40 off peak and $0.43 peak hrs. So if you live in Bay Area, and charge your Tesla for $0.40/kWh, then 37, 310 x 0.40 = $14, 924 and that's the reason why I didn't buy the Tesla model 3. Electricity price is crazy in California. Also, superchargers price here is ranging depending on time, the cheapest is in the early morning lol. Hybrid makes more sense to me personally. 136k miles / 50 mpg (for Camry Hybrid) * $4/gallon gas = $10, 880. And Camry is leather interior, bigger than model 3 and cost $40k, requires no wall charge and reliable. BUT for buying EV in CA you will get $7, 500 from the state.

[MrDksmall]

You have another category of savings which is maintenance cost, 5 years of minimal maintenance on your EV, compared to 20+ oil changes, at least 1 transmission fluid change, etc.

[EdwardGerhardt]

Saving $11, 000 in gas sounds great, but the average person drives 1/2 what you do, so only $5, 500 over 5 years, $1, 100 a year is not even $100/month.
Additionally:
1) I pay way less than $3.00/gallon and more than double your electricity rates, so now that $100/month savings is almost gone!
2) Plus, the Tesla costs more, depreciates more and is a lot more to insure; I doubt I'd save

[gasbelle]

To me, common sense tells you the EV is more practical, convenient and less expensive even without calculations. Wife has had her 22 Model Y for 2 years and has 30, 170 miles on it I have had my 22 Ford Lightning. for 1.5 years with 22, 731 miles. Both battery packs are holding up just fine. Obviously we drive quite a bit. We do have solar at home which is even better. It will have paid for itself in about 6 more years. I will say tires on the Tesla do wear out faster I assume due to the vehicle weight.Getting ready to put my second set on it. Truck tires seem to be holding up better. I paid $230 per vehicle for lifetime tire rotation at Firestone. Do not EVer plan to go back to gas. No brainer! :)