Coltura’s EV Savings Calculator

On average EV drivers save more than $1,000 a year over gas car owners in fuel and maintenance charges.  Savings in New Mexico can be higher. Energy Sage estimates home charging in New Mexico costs about $535 a year compared with $1,255 for public charging and $1,264 for gas (2025 prices).

To see what you could save in operating costs check out Clotura’s EV vs. Gas Calculator.  In addition to savings, it can also show new and used EVs for sale near you and their financing costs.

Lifetime costs (purchase, fuel and maintenance). EVs save consumers $6,000–$10,000 in lifetime costs compared to gas-powered cars. Assuming cleaner car regulations, a 2023 modeling study of future New Mexico adoption of electric cars, SUVs and trucks projects $14,000 – $16,800 in lifetime savings starting with 2027 models for urban residents and $5,000 (manufacturer year 2027) – $13,600 (MY2030) for rural owners.

Worried about Range?

• In the U.S., the average range for new EVs is 325 miles. Some EVs can even travel farther (400-500 miles) than gas cars.  
• For most people however, nearly all of the time, range is simply not an issue.  In New Mexico, urban dwellers travel an average of 33 miles a day, suburbanites 46 miles and rural residents about 50. That is well within the lowest ranged new EVs, which travel 150-200 miles on one charge.
• Level 2 home chargers can “fill up” your EV overnight. Public, work and apartment charging networks are growing steadily, and apps will direct you to chargers, tell you how many spots are open and how long it will take to charge.
• If your battery is low while you are out, you can make it last longer by driving slower, using seat warmers or other measures.  Be aware that cold weather can decrease your range.
  
• Range is increasing with each new generation of batteries as are charging times (which EVs charge fastest?).
• Still worried?  Read the articles below and visit Coltura’s website for the longest-range electric cars and the cheapest EVs with at least 200 miles of range, and 300-mile range or more.
  

• Road & Track How Much EV Range Do You Really Need?  Bigger has always been better in the United States. That changes with EVs. (April 2023)

• EcoWatch Want a New EV But Concerned about Range? A New Study Matches Drivers’ Needs with Vehicles. (March 2023)
• Electric vehicle range is more than enough for typical daily use in the U.S.

• EV batteries maintain their capacity remarkably longer than people expect.
• Modern batteries have kept  97% of their range after 3 years and 95% after 5 years, according to 2026  Recurrent study.  Modern batteries can outlive the cars they power. There are still Teslas out there that have clocked over  400,000 miles.
• Replacement rates for batteries are just 0.3%.
• Battery degradation depends on the type of battery (lithium iron phosphate retains more over time than nickel manganese cobalt), charging behavior and climate.  Batteries tend to lose most of their capacity in the first few years, and then level off.
• What will wear a battery down more? Frequent charging and discharging (especially at fast chargers), extreme temperatures and spending more time at high or low states of charge, according to InsideEVs. (For short trips not charging above 80% and not going below 20% is recommended).
• Want to know what to expect from your EV’s battery or check on a used model? Check on the past and expected battery degradation of an EV based on real world temperature, age, and charging patterns at Recurrent.

• Electric vehicles must meet the same safety standards as conventional vehicles.
• EVs are just as safe or safer than internal combustion engine (ICE) vehicles and are less prone to fires and rollover crashes.

• Electric vehicles typically have a smaller carbon footprint than gasoline cars, even when accounting for the electricity used for charging.
• The greenhouse gas emissions associated with an electric vehicle over its lifetime are typically lower than those from an average gasoline-powered vehicle, even when accounting for manufacturing.

There has been concern about sourcing battery materials especially from countries with child labor and poor environmental oversight. Some car companies are addressing this through the Initiative for Responsible Mining Assurance, direct mining supervision and the development of alternate battery materials. Federal action and the growing market has sparked a rush of lithium mining in North America and the US, which ranks 5th in lithium reserves. (US and North America critical materials Reserves). Recently the world’s largest lithium reserve was discovered in Nevada. Demand for critical minerals will increase even without EVs as they are used in personal electronics (e.g, cell phones and laptops) and in nation security (e.g., satellites and missile systems)

However, it’s important to point out the larger picture. The amount of EV materials being mined is minuscule compared to all metal mined in the world, and the amount of materials consumed by a gas-powered car is 300-400 times greater than that of an EV battery. The fossil fuels industry extracts millions-of-years old carbon that is sent into the atmosphere where it is very expensive and technologically challenging to capture and where it causes global harm via air pollution and climate change.  EV battery materials, in contrast, have local impact, stay on earth and can be recycled, ultimately reducing demand.

Investments in recycling are robust, but even before recycling, EV batteries can be repurposed. EV batteries are not like short-lifespan cell phone batteries, because they have extensive thermal management to slow degradation from temperature changes. So EV batteries that degrade to 75-80% of their capacity (after 15-20 years, 100,000-200,000 miles) are being repurposed for home, industrial and grid energy storage.

EV Metrics and Terminology

Battery size or capacity is measured in kilowatt-hours (kWh). This tells you how much energy the battery holds.  The bigger, the better. A commuter car like a Nissan Leaf might have a relatively small battery on the order of 40 kWh, while upper end cars have batteries around 100 kWh.

Range is the distance an EV can go on one charge. The larger the battery, the higher the range, generally. However, many factors affect range including the weather, topography and how fast you drive. Regenerative braking adds charge back to your battery when you brake or coast. In general, most charging stops on long trips are mapped out for when you still have a decent amount of charge in your battery, so you are not recharging the whole battery every time. These can be timed with lunch and pit stops.

Efficiency or Mileage in Miles per Gallon equivalent (MPGe). This is calculated assuming that the energy content in 1 gallon of gasoline is equivalent on average to 33.7 kilowatt-hours of electricity. A car that uses 33.7 kWhr to drive 100 miles is rated at 100 MPGe. Electric cars are extremely efficient, having miles per gallons equivalents of over 100, compared to gas-powered cars, which averaged 25 mpg in 2020. Newer gas cars are rated just shy of 40 mpg.

Battery Electric Vehicle (BEV). A all electric car that is 100% battery-powered and needs a charger.

Hybrid Electric Vehicle (HEV). A car that has a gas engine as well as an electric motor and a small battery. It cannot be charged by plugging into an electrical supply.

Plug-In Hybrid Electric Vehicle (PHEV). A car that has a gas (or other fuel) engine, electric motor and a larger sized batter than an HEV. It can be charged by plugging into a charger.

Zero Emission Vehicle (ZEV). A vehicle that emits no harmful pollutants from its power source. 

Low Emission Vehicle (LEV). California’s definition.

eGallon. eGallon is the cost to drive an EV the same distance you could go on one gallon of gas.  eGallon=(mpg comparable gas car) X (average electricity used by a EV in kWh/100mi) X (Price of Electricity).  Assuming passenger car averages 24.2 mpg, 25.6 kWh/100mi for EV and 14.81 cents/kWh for PNM = $0.91/gallon.

NEMA stands for the National Electrical Manufacturers Association.  NEMA 14-50 is a charging plug for a 240 volt outlet carrying 50 amp. Read more here.