EV Calculator: Is an Electric Vehicle Worth It in Australia 2026?
At $2.50 per litre, the average Australian driver spends $3,750 per year on petrol. The same kilometres in an EV cost $544 to $810 per year to charge at home. With solar, that drops further. Add $350 per year in maintenance savings, and the annual running cost difference is $2,500 to $3,500 in favour of electric.
The real question is the purchase premium. A comparable EV can cost $0 to $15,000 more than its petrol equivalent depending on the segment. The calculator models this honestly: it only counts the price difference, not the full EV price, and it delays the switch until your current car reaches end of life rather than assuming you scrap a working vehicle today.
Enter your details below. The calculator ranks an EV alongside solar, battery, heat pump, and 12 other upgrades and tells you where it belongs in your optimal home upgrade sequence.
How the EV Calculator Works
Only the Price Premium Counts
The model does not compare the full EV price against the full petrol price. It compares an EV against the petrol car you would have bought anyway. If a comparable petrol car costs $45,000 and the equivalent EV costs $55,000, the calculator treats $10,000 as the investment to evaluate, not $55,000.
Timing the Switch
Replacing a 2-year-old car with an EV today means paying the premium earlier than necessary. The calculator delays the switch until your current car reaches estimated end of life, then models 15-year returns from that point. This gives you a realistic NPV rather than a figure inflated by assuming an early replacement.
Solar Charging Savings
If you have solar or plan to add it, charging an EV during the day from your own generation reduces the effective cost of driving to near zero. The calculator models this interaction and shows you the combined return from solar plus EV versus each upgrade independently.
EV FAQ
How much cheaper is an EV to run than petrol?
At $2.50 per litre, the average Australian driver spending 15,000 km per year on petrol pays around $3,750 annually in fuel. The same distance in an EV costs $544 to $810 per year to charge at home at typical grid rates. With solar, daytime charging can reduce that to $150 to $300 per year. Add $350 per year in maintenance savings (no oil changes, fewer brake jobs, simpler drivetrain), and the total annual saving over petrol is typically $2,500 to $3,500.
When should I switch to an EV?
The calculator models switching at the natural end of your current car's life rather than forcing an early replacement. If your current car has 5 years of useful life remaining, paying a $10,000 premium to switch to an EV now gives a different return than waiting until the car needs replacing. The model delays the EV purchase until the optimal switch point and shows the net present value over a 15-year horizon.
Does the calculator account for my current car's age?
Yes. You enter your current car's age in the refinement form, and the calculator estimates remaining useful life based on average Australian fleet retirement data. The EV premium is only counted from the point where you would need to replace the petrol car anyway. This gives a more honest comparison than assuming you scrap a working car today.
How much does it cost to charge an EV at home?
Home charging costs depend on your electricity rate and the EV's efficiency. A typical EV uses 18 to 20 kWh per 100 km. At a flat rate of 30 cents per kWh, that is $5.40 to $6.00 per 100 km, compared to $14 to $18 per 100 km for petrol at $2.50 per litre. Installing a dedicated home charger (Level 2, 7kW) costs $1,000 to $1,500 installed and is included in the calculator's cost model.
Is an EV worth it if I do not have solar?
Yes, in most cases, even without solar. The fuel saving alone often justifies the EV premium over 10 years for high-mileage drivers. Solar amplifies the return significantly by allowing you to charge from your own generation at near-zero marginal cost. If you are considering both solar and an EV, the calculator models the interaction and shows you the combined return versus each upgrade separately.
Further Reading
Detailed breakdown of EV vs petrol running costs, purchase premiums, and 10-year totals.
How geopolitical risk affects the fuel cost assumptions in your EV calculation.
See how an EV ranks for a typical NSW household alongside solar and other upgrades.
VIC has removed the EV road user charge. See how that changes the numbers.
Under the Hood
Enter your postcode first
Assumptions like electricity rates, sun hours, and gas prices are tailored to your location.