Saturday, November 6, 2010

Shocking Price Comparisons

With all this buzz about hybrid cars and such, Nissan has gone back in time back to the electric car. The Nissan Leaf gets, supposedly, anywhere from 62 to 138 miles to a charge, depending on your driving habits. EPA tests pegged the range at about 111 miles. The 62 mile number comes from "worst case" driving (winter weather, stop-and-go traffic).

This didn't speak much to me. My car, a 2.3L automatic-transmission Mazda3, gets decent gas mileage. Nothing to brag about at 27mpg average, but that isn't terrible. Would getting an electric car actually be cheaper? I plugged some numbers using my all time favorite tool, Excel.

Let's define some constants. Leaf data lifted from Nissan.
  1. I drive, on average, 5,200 miles per year.
  2. Gas is stuck at $2.50/gallon.
  3. Electricity, where I presently live, is stuck at $0.08/kWh
  4. My car has a 14 gallon gas tank and gets 27 miles per gallon.
  5. The Leaf requires 26.4 kWh of power to charge (note that the battery capacity is 24 kWh, but apparently requires an additional 2.4kWh to charge).
I used very conservative estimates from both cars. My car can "supposedly" get (14 gallons * 27 miles per gallon) 378 miles out of a tank. The Nissan Leaf can "supposedly" get 138 miles to a tank. This means that I would refuel my car (5,200 / 378) 13.76 times per year. This is hardly the case, but it is a conservative estimate. The Leaf, at the supposed 138 range would need refueled (5,200 / 138) 37.68 times.

With these ideal situations,
  1. My car would cost (13.76 tanks/year * (14 gallon fuel tank * $2.50 gas price)) $481.48 per year
  2. The Leaf would cost (37.68 charges/year * (26.4 kWh * $0.08/kWh)) $79.58.
This LOOKS promising. However, the Leaf has a proprietary charging station that costs $2,000. You would have to won the car for 5 years to make up the difference. And that assumes that you're already in the market for a car of similar value! And of course this all gets jiggled around when the cost of fuels change. This site offers a good application to compare costs.

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