Yes, an EV may be worth buying in this U.S. example if you drive 15,000 miles a year and charge at home: the 2027 Equinox comparison gives a 3.9-year energy-only payback on Chevrolet's $5,695 listed starting-MSRP gap, using EIA's August 2026 residential average. At 7,500 miles a year using AAA's public-charging average, payback is 32.6 years. Chevrolet's trims are not feature-matched, and this is not a total-ownership-cost comparison.
How do mileage and charging access change the result?
This U.S. example compares the 2027 Chevrolet Equinox EV LT 1 FWD ($34,995 starting MSRP) with the 2027 Equinox LT FWD ($29,300); Chevrolet's displayed starting MSRPs exclude destination freight, tax, title, license, dealer fees and optional equipment, and the dealer sets the final price.[1][2][3] The trims share a model family and drivetrain, but are not feature-matched.[1:1][2:1][3:1]
FuelEconomy.gov rates the 2027 Equinox EV FWD at 31 kWh per 100 miles and the gasoline Equinox FWD at 27 mpg combined.[3:2] Its annual-cost example uses 15,000 miles per year with a 45% highway and 55% city mix; 7,500 miles here is a sensitivity scenario, not a typical-driver average.[3:3] The EV's kWh-per-100-mile figure measures electricity from an outlet and includes wall-to-vehicle charging losses, so this estimate does not add another generic loss factor.[4]
The home-charging input is EIA's U.S. residential average of 18.16 cents per kWh for August 2026. EIA calculates average retail revenue per kWh as a proxy; it is not a quote for a particular utility or household.[5][6] The public-charging input is AAA's U.S. average of $0.421 per kWh, marked as of November 10, 2026, across public Level 1, Level 2 and Level 3/DC fast charging.[7] The gasoline input is EIA's U.S. regular average of $4.153 per gallon for the week of November 2, released November 3; it is not a November 10 observation.[8]
For each row, annual EV electricity use is annual miles × 31 ÷ 100, and gasoline use is annual miles ÷ 27.[3:4] Energy savings are gasoline cost minus EV electricity cost. Simple energy-only payback is the $5,695 Chevrolet starting-price difference divided by annual energy savings.[1:2][2:2][3:5][5:1][6:1][7:1][8:1] The calculations use unrounded inputs, hold the cited prices constant, round dollars to the nearest dollar and payback to one decimal year.
| Annual miles (scenario) | Charging-price endpoint | EV electricity cost/year | Gasoline cost/year | Energy savings/year | Energy-only payback |
|---|---|---|---|---|---|
| 7,500 | Home, $0.1816/kWh | $422 | $1,154 | $731 | 7.8 years |
| 7,500 | Public, $0.421/kWh | $979 | $1,154 | $175 | 32.6 years |
| 15,000 | Home, $0.1816/kWh | $844 | $2,307 | $1,463 | 3.9 years |
| 15,000 | Public, $0.421/kWh | $1,958 | $2,307 | $350 | 16.3 years |
At the same mileage, the public-only price proxy produces lower energy savings and a longer payback than the home-price proxy.[1:3][2:3][3:6][5:2][6:2][7:2][8:2] A mixed charging routine depends on the driver's actual electricity rates and share of charging at each price; the table uses home-only and public-only endpoints.
Does this show whether an EV costs less overall?
No. The payback divides a starting-price difference by annual energy savings only. It excludes depreciation and resale value, financing, insurance, maintenance, repairs, registration or tax differences, charger purchase and installation, destination and dealer pricing, incentives, future fuel or electricity prices, and vehicle life. It is not a full ownership-cost break-even and does not show that every driver saves money.
For a five-year estimate of purchase price plus home charging, use SuliHuli's cost calculator.[9] For more detail, see how much it costs to charge an electric car and how long it takes to charge an electric car. Browse all SuliHuli answers for related buyer questions.
Chevrolet, “2027 Equinox EV | Electric Compact SUV” (read 2026-11-10). 2027 Equinox EV starting price and terms ↩︎ ↩︎ ↩︎ ↩︎
Chevrolet, “The 2027 Equinox | Compact SUV” (read 2026-11-10). 2027 Equinox starting price and terms ↩︎ ↩︎ ↩︎ ↩︎
U.S. Environmental Protection Agency, FuelEconomy.gov, “2027 Chevrolet Equinox EV FWD” and “2027 Chevrolet Equinox FWD” (read 2026-11-10). EV record · gasoline record ↩︎ ↩︎ ↩︎ ↩︎ ↩︎ ↩︎ ↩︎
U.S. Environmental Protection Agency, “The 2024 EPA Automotive Trends Report: Greenhouse Gas Emissions, Fuel Economy, and Technology since 1975” (November 2024; read 2026-11-09). EPA report PDF ↩︎
U.S. Energy Information Administration, “Electric Power Monthly,” table “Average Price of Electricity to Ultimate Customers by End-Use Sector, by State, August 2026 and 2025 (Cents per Kilowatthour)” (August 2026 data; released 2026-10-23; read 2026-11-10). EIA table ↩︎ ↩︎ ↩︎
U.S. Energy Information Administration, “Electricity Monthly Update” (August 2026 data; released 2026-10-23; read 2026-11-09). EIA explanation of the residential-price proxy ↩︎ ↩︎ ↩︎
AAA, “EV Charging Prices” (price as of 2026-11-10; read 2026-11-10). AAA public-charging average and scope ↩︎ ↩︎ ↩︎
U.S. Energy Information Administration, “U.S. Gasoline and Diesel Retail Prices” (week of 2026-11-02; released 2026-11-03; read 2026-11-10). EIA weekly gasoline prices ↩︎ ↩︎ ↩︎
SuliHuli, “What will an EV cost you over 5 years?” (page updated 2026-11-04; read 2026-11-10). Five-year cost calculator ↩︎