Iowa EV charging vs. gas costs
Iowa's average residential electricity rate is 13.86¢/kWh,below the national average by 26%. Gasoline averages $3.49/gallon, below the national average by 8%. That ranks Iowa #6 of 51 for cheapest electricity and #14 for cheapest gas.
Cost per mile in Iowa
Charging an EV at 3.5 mi/kWh on Iowa's 13.86¢/kWh residential rate works out to about 4.0¢ per mile. A gas car at 28 MPG paying $3.49/gallon pays about 12.5¢ per mile — roughly 3.1× as much per mile driven.
Example: 12,000 miles a year in Iowa
A gas car at 28 MPG driving 12,000 miles a year in Iowa spends about $1,496 on gasoline. An EV at 3.5 mi/kWh charging at home over the same distance spends about $475 on electricity — a difference of $1,021 a year, or about $5,103 over five years.
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Frequently asked questions
Is it cheaper to drive an EV or a gas car in Iowa?
In Iowa, an EV charging at home costs about 4.0¢ per mile, versus about 12.5¢ per mile for a 28 MPG gas car at the state's $3.49/gallon average. The EV is cheaper to fuel per mile.
How much can an EV save per year in Iowa?
Driving 12,000 miles a year, an EV owner in Iowa spends about $475 on home charging versus $1,496 on gasoline — a saving of roughly $1,021 per year, or $5,103 over five years.