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17 Posts
Hi all
Fuel Cost Calculator
I am currently in the market for an EV and have created a simple excel based calculator to compare fuel prices between different cars and fuel types. From speaking to colleagues and friends I think there is a wide misunderstanding of the actual cost per mile and associated cost of ownership of a BEV so I created this tool to better understand it and justify the investment for myself. With new more affordable cars coming out soon with a more usable 200+mile range such as the Jaguar I-Pace, Hyundai Kona, Leaf 60kWh and eventually the Tesla M3. The low running costs are the most attractive factor in choosing an EV as my next car and I believe these next batch will be a game changer for the market as switched on people will want to make a monthly saving. Beyond the environmental benefits which we all know, cost benefits are what drives the market.
Costs such as monthly finance, insurance etc are easy to track as you can look up bank financing or talk to dealers for a specific hire purchase costs etc. But the cost per mile driven and fuel costs are often calculated using the ((battery capacity x charge cost) / (battery range)).
I believe this is an incorrect method of calculating the driving cost as there are several variables surrounding batteries actual usable capacity and the claimed ranges at different temperatures.
Most cars seem to provide information on energy consumption such as (miles/kWh) or (kWh/100km). Using these values I have created a tool to provide per mile, monthly and yearly costs. You can add these to your usual personal monthly costs for financing, insurance, servicing, tyres etc.
For most here this will be old information that you have been taking advantage of for many years. But some people may not realise the savings they could be making or could use this to illustrate it to colleagues. From my personal figures of 22000 miles per year, I think I could be saving £230/month in fuel if I moved to an EV from my current petrol mid-life crisis.
Even comparing overall costs of ownership to a second hand efficient diesel honda civic with zero road tax, the new BEV may be still coming out cheaper in whole life cost if your a mid - high mileage driver. Maybe some of you experience hands here can pick holes in my calculations and recommend changes to the calculator. I know if doesn't account for public rapid chargers and variable electric rates, but i see most usage of these new high range BEV's being charged only 2 or 3 times per week, likely on economy 7 power plans.
I have seen a few similar posts on here with similar excel based calculators which are all excellent at their target function, but either used the battery charge cost/max range method for calculation example, or were primarily aimed at calculating the difference between battery rental and ownership example2.
Let me know your thoughts and have a play about with the sheet. I think I possibly need a fact check as i have been sucked in by the savings possible. Are real life figures which you have experienced mirrored in the calculations?
Fuel Cost Calculator
I am currently in the market for an EV and have created a simple excel based calculator to compare fuel prices between different cars and fuel types. From speaking to colleagues and friends I think there is a wide misunderstanding of the actual cost per mile and associated cost of ownership of a BEV so I created this tool to better understand it and justify the investment for myself. With new more affordable cars coming out soon with a more usable 200+mile range such as the Jaguar I-Pace, Hyundai Kona, Leaf 60kWh and eventually the Tesla M3. The low running costs are the most attractive factor in choosing an EV as my next car and I believe these next batch will be a game changer for the market as switched on people will want to make a monthly saving. Beyond the environmental benefits which we all know, cost benefits are what drives the market.
Costs such as monthly finance, insurance etc are easy to track as you can look up bank financing or talk to dealers for a specific hire purchase costs etc. But the cost per mile driven and fuel costs are often calculated using the ((battery capacity x charge cost) / (battery range)).
I believe this is an incorrect method of calculating the driving cost as there are several variables surrounding batteries actual usable capacity and the claimed ranges at different temperatures.
Most cars seem to provide information on energy consumption such as (miles/kWh) or (kWh/100km). Using these values I have created a tool to provide per mile, monthly and yearly costs. You can add these to your usual personal monthly costs for financing, insurance, servicing, tyres etc.
For most here this will be old information that you have been taking advantage of for many years. But some people may not realise the savings they could be making or could use this to illustrate it to colleagues. From my personal figures of 22000 miles per year, I think I could be saving £230/month in fuel if I moved to an EV from my current petrol mid-life crisis.
Even comparing overall costs of ownership to a second hand efficient diesel honda civic with zero road tax, the new BEV may be still coming out cheaper in whole life cost if your a mid - high mileage driver. Maybe some of you experience hands here can pick holes in my calculations and recommend changes to the calculator. I know if doesn't account for public rapid chargers and variable electric rates, but i see most usage of these new high range BEV's being charged only 2 or 3 times per week, likely on economy 7 power plans.
I have seen a few similar posts on here with similar excel based calculators which are all excellent at their target function, but either used the battery charge cost/max range method for calculation example, or were primarily aimed at calculating the difference between battery rental and ownership example2.
Let me know your thoughts and have a play about with the sheet. I think I possibly need a fact check as i have been sucked in by the savings possible. Are real life figures which you have experienced mirrored in the calculations?