Colorado EV charging vs. gas costs
Colorado's average residential electricity rate is 16.54¢/kWh,below the national average by 12%. Gasoline averages $3.66/gallon, below the national average by 3%. That ranks Colorado #26 of 51 for cheapest electricity and #24 for cheapest gas.
Cost per mile in Colorado
Charging an EV at 3.5 mi/kWh on Colorado's 16.54¢/kWh residential rate works out to about 4.7¢ per mile. A gas car at 28 MPG paying $3.66/gallon pays about 13.1¢ per mile — roughly 2.8× as much per mile driven.
Example: 12,000 miles a year in Colorado
A gas car at 28 MPG driving 12,000 miles a year in Colorado spends about $1,569 on gasoline. An EV at 3.5 mi/kWh charging at home over the same distance spends about $567 on electricity — a difference of $1,001 a year, or about $5,007 over five years.
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Frequently asked questions
Is it cheaper to drive an EV or a gas car in Colorado?
In Colorado, an EV charging at home costs about 4.7¢ per mile, versus about 13.1¢ per mile for a 28 MPG gas car at the state's $3.66/gallon average. The EV is cheaper to fuel per mile.
How much can an EV save per year in Colorado?
Driving 12,000 miles a year, an EV owner in Colorado spends about $567 on home charging versus $1,569 on gasoline — a saving of roughly $1,001 per year, or $5,007 over five years.