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Diesel vs. EV Trucks: Calculate Your Fuel Savings

September 19, 2023


For fleet operators, the transition to EVs is all about the dollars and cents. To help you make informed decisions, use the interactive tool below to gain a clearer picture of how your cost per mile could change by switching to EVs. Simply input a few key data points about your current fleet to see how much you’re spending annually on diesel today — and how that number will change if all of those trucks were electric.



Understanding Your EV Fleet’s Energy Costs


One of the primary differences between diesel and electric vehicle fueling is the way energy costs are structured. Electricity rates are generally more stable compared to diesel, but they have many components:


  1. Pay-per-kWh used: With EVs, you pay for the electricity consumed, measured in kilowatt-hours (kWh). This straightforward model allows for accurate cost tracking.


  1. Time-of-use (TOU) rates: Some utilities have TOU rates, which make electricity more expensive during certain times of the day. Charging during peak hours (e.g., 4-9 pm) may incur higher costs.


  1. Seasonal TOU rates: Certain utilities may also have varying TOU rates based on the season. For example, peak rates could be higher during the summer than the winter.


Comparing Diesel vs. EV Fueling


To evaluate the cost-effectiveness of EVs compared to diesel vehicles, it’s often best to analyze costs on a per-mile basis. 


  1. Per-mile costs: Lower per-mile costs for EVs can help fleets recover the initially higher upfront investment over time.


  1. Vehicle efficiency: Savings will depend on the status of your diesel fleet. Newer diesel vehicles have higher fuel efficiency compared to older ones. Therefore, whether you’ll see savings – and how much – depends on factors such as whether you’re replacing older vehicles with EVs or comparing new diesel vs. new EV purchases.


  1. Cost of diesel: Diesel prices are influenced by factors such as on-site or off-site fueling, bulk discounts from retailers, and regional differences. For example, California has higher diesel prices compared to most of the United States.


  1. Cost of charging: TeraWatt charging solutions aim to be in line with or cheaper than diesel prices in your region, so that your fleet can realize potential cost savings from switching to EVs.




Note: The calculations above are estimates based on industry research and internal analysis and are not indicative of exact fueling costs. This analysis does not take into account other costs such as vehicle maintenance, insurance, and acquisition