The U.S. Department of Energy today announced eGallon, a web tool that gives consumers a way to compare the costs of fueling electric vehicles vs. driving on gasoline.
In Tennessee, the eGallon price is about 97 cents, meaning that a typical electric vehicle could travel as far on 97 cents worth of electricity as a similar vehicle could travel on a gallon of gasoline, according to a DOE press release.
The eGallon price varies from state to state based on the price of electricity. It provides a metric that is easily comparable to that of the traditional gallon of unleaded fuel. That comparison is made by calculating how much it would cost to drive an electric vehicle the same distance as a similar conventional vehicle could travel on a gallon of gasoline.
On Energy.gov/eGallon, consumers can see the latest eGallon prices for their respective states and compare them to the price of gasoline. The DOE suggests that consumers will notice that the eGallon price will be far more stable and predictable than gasoline prices in the long run.
“Consumers can see gasoline prices posted at the corner gas station, but are left in the dark on the cost of fueling an electric vehicle,” Energy Secretary Ernest Moniz said in a statement. “The eGallon will bring greater transparency to vehicle operating costs, and help drivers figure out how much they might save on fuel by choosing an electric vehicle. It also shows the low and steady price of fueling with electricity. Not only can electric vehicles save consumers on fuel and reduce our dependence on oil, they also represent an opportunity for America to lead in a growing, global manufacturing industry.”
Read the entire DOE release here.