Electric-car drivers in Tennessee are paying the equivalent of 97 cents per gallon to power their vehicles, according to the U.S. Department of Energy.
Figuring out the cost to fuel an electric vehicle hasn’t been as clear as what you pay at the pump.
Enter the eGallon, a new rubric from the Department of Energy that makes it easier for consumers to compare the costs of fueling electric vehicles versus driving a gasoline-powered vehicle.
“Consumers can see gasoline prices posted at the corner gas station, but are left in the dark on the cost of fueling an electric vehicle. The eGallon will bring greater transparency to vehicle operating costs, and help drivers figure out how much they might save on fuel by choosing an electric vehicle. It also shows the low and steady price of fueling with electricity,” said Energy Secretary Ernest Moniz in a press release. “Not only can electric vehicles save consumers on fuel and reduce our dependence on oil, they also represent an opportunity for America to lead in a growing, global manufacturing industry.”
Nationwide, average eGallon price is $1.14, according to the DOE’s eGallon website.
Still, electric and hybrid vehicle owners should be prepared to wait for cost savings. Last year The New York Times reported that buyers who choose Nissan’s all-electric Leaf (which cost $28,421 at the time) over its approximate gas-powered equivalent, Nissan’s Versa ($18,640), will likely wait nearly nine years until they break even.