Fleet Electrification Calculator
Compare total cost of ownership between ICE and EV fleet vehicles.
TCO Savings (EV vs ICE)
$155,935.00
Payback Period
3.6 years
Inputs
Comparison
ICE Total Cost of Ownership
$804,364.00
EV Total Cost of Ownership
$648,429.00
Annual Operating Savings
$35,117.00
Upfront EV Premium
$125,000.00
Energy Cost Savings
78.5%
ICE Annual Fuel Cost
$34,545.00
EV Annual Energy Cost
$7,429.00
Annual CO2 Reduction
62.8 tons
How to Use This Calculator
- Enter the Number of Vehicles to convert and the price of each ICE and EV vehicle.
- Set Annual Miles per Vehicle and the current Fuel Price ($/gal) and ICE MPG.
- Enter your Electricity Rate ($/kWh), EV Efficiency (mi/kWh), and total Charging Infrastructure cost.
- Set the Comparison Period in years and any Incentives (tax credits) per EV purchased.
- Review EV Fleet Total Cost vs. ICE Fleet Total Cost, Net Savings, and CO2 Reduction in tons.
How the result changes with EV Vehicle Price
| EV Vehicle Price | TCO Savings (EV vs ICE) | Payback Period |
|---|---|---|
| $37,500.00 | $330,935.00 | -1.4 years |
| $68,750.00 | $18,435.00 | 7.5 years |
| $106,250.00 | -$356,565.00 | 18.2 years |
| $137,500.00 | -$669,065.00 | 27.1 years |
What each input means
- Number of Vehicles
- Number of vehicles to convert to electric.
- ICE Vehicle Price
- Purchase price of comparable gas/diesel vehicle.
- EV Vehicle Price
- Purchase price of electric vehicle.
- Annual Miles per Vehicle
- Average annual miles per vehicle.
- Fuel Price
- Current gasoline/diesel price per gallon.
- ICE Vehicle MPG
- Fuel economy of ICE vehicles.
- Electricity Rate
- Cost of electricity per kWh.
- EV Efficiency
- EV efficiency in miles per kWh.
- Charging Infrastructure
- Total charging station installation cost.
- Comparison Period
- Number of years for TCO comparison.
- Incentives per Vehicle
- Tax credits or rebates per EV purchased.
How this is calculated
Worked example, using the default values
- Identify Input Parameters4 parametersNumber of Vehicles = 10, ICE Vehicle Price = 40000, EV Vehicle Price = 55000, Annual Miles per Vehicle = 20000 = 11 input(s) provided
- Calculate TCO SavingsTCO Savings155935 = $155,935
- Calculate Payback PeriodPayback Period3.6 = 3.6
- Calculate ICE Total Cost of OwnershipICE Total Cost of Ownership804364 = $804,364
- Calculate EV Total Cost of OwnershipEV Total Cost of Ownership648429 = $648,429
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