Time to back of napkin it.

Assumptions:

- Average gas price over the next 6 years of $4 in today's dollars, which I personally feel is very conservative.

- Average electricity price of $0.10/kWh, also conservative and higher than the current Seattle City Light rates that range between 4.7 and 9.8 cents/kWh, iirc.

- 12k miles/year for each, even though that might be practically challenging to achieve in the EV due to the range.

- V6 4WD RAV4 Limited with navi/Entune as the relatively feature- and performance-matched gas contender, which gets

22 mpg combined and costs $29.9k before destination as described

- Single trim EV model, which costs $49.8k before destination and uses about 0.440 kWh/mile (based off of

published Leaf efficiency * scaling factor of 1.2 for weight)

- An EV buyer with an adjusted gross income sufficient to qualify for the full $7,500 Federal tax credit ($55k for a married couple filing jointly), and who lives in Seattle, where EVs are exempt from the 9.1% (iirc) sales/use tax on new vehicles

**and** EVSE is provided free by

*The EV Project*. California's incentives are even more friendly.

- Charger efficiency of 90%, which is more than fair unless one's talking inductive charging

Gas price formula: 12,000 miles x 6 years * $X/gal / 22 mpg, which works out to $13,090 for X = 4.

Electricity price formula: 12,000 miles x 6 years * $Y/kWh * 0.440 kWh/mile / 90% charging efficiency, which works out to $3,520 for Y = 0.10.

Net "fuel" cost savings over 6 years and 72,000 miles = $13,090 - $3,520 = $9,570

Net initial purchase price difference = $49.8k - $7,500 - ($29.9k * 1.091) = $9,679

**So the EV breaks even at just over 6 years, and that's before accounting for lower maintenance and increased resale value**, the latter of which for used RAV4 EVs has

historically been far greater than used gas RAV4s…

Despite all this, I still maintain that buying a $50k EV for frugality is a silly idea. If one wanted to be frugal, they wouldn't have been looking at 22 mpg, $30k cars of any sort in the first place, but rather combing the lower cost, more frugal branches of the automotive family tree. Again, though,

*frugality* is not what I'm personally after.