Upfront Cost Comparison
| Category |
EV (Example: Tesla Model 3) |
Gas (Example: Toyota Camry) |
Difference |
| MSRP |
$55,990 |
$34,790 |
+$21,200 |
| Federal incentive (iZEV) |
-$5,000 |
$0 |
-$5,000 |
| Provincial incentive (QC example) |
-$7,000 |
$0 |
-$7,000 |
| Net purchase price |
$43,990 |
$34,790 |
+$9,200 |
| Category |
EV (Budget: Chevy Equinox EV) |
Gas (Honda CR-V) |
Difference |
| MSRP |
$45,800 |
$38,590 |
+$7,210 |
| Federal incentive |
-$5,000 |
$0 |
-$5,000 |
| Provincial incentive (BC) |
-$4,000 |
$0 |
-$4,000 |
| Net purchase price |
$36,800 |
$38,590 |
-$1,790 (EV cheaper) |
Government EV Incentives by Province
| Province |
Provincial Incentive |
Federal iZEV |
Combined Maximum |
| Quebec |
Up to $7,000 |
$5,000 |
$12,000 |
| British Columbia |
Up to $4,000 |
$5,000 |
$9,000 |
| Nova Scotia |
Up to $3,000 |
$5,000 |
$8,000 |
| PEI |
Up to $5,000 |
$5,000 |
$10,000 |
| New Brunswick |
Up to $5,000 |
$5,000 |
$10,000 |
| Newfoundland |
Up to $2,500 |
$5,000 |
$7,500 |
| Ontario |
None (2026) |
$5,000 |
$5,000 |
| Alberta |
None |
$5,000 |
$5,000 |
| Saskatchewan |
None |
$5,000 |
$5,000 |
| Manitoba |
None |
$5,000 |
$5,000 |
Check the latest incentive amounts — programs change frequently.
Annual Fuel/Energy Cost
| Factor |
EV |
Gas Car |
| Efficiency |
18 kWh/100 km (average) |
8 L/100 km (average) |
| Energy cost |
$0.13/kWh (average) |
$1.60/L (average) |
| Annual driving |
20,000 km |
20,000 km |
| Annual fuel cost |
$468 |
$2,560 |
| Annual savings |
$2,092/year |
— |
Fuel Cost by Province
| Province |
Electricity Rate ($/kWh) |
EV Cost (20,000 km) |
Gas Price ($/L) |
Gas Cost (20,000 km) |
Savings |
| Quebec |
$0.07 |
$252 |
$1.55 |
$2,480 |
$2,228 |
| Manitoba |
$0.10 |
$360 |
$1.50 |
$2,400 |
$2,040 |
| BC |
$0.10 |
$360 |
$1.75 |
$2,800 |
$2,440 |
| Ontario |
$0.13 |
$468 |
$1.60 |
$2,560 |
$2,092 |
| Alberta |
$0.17 |
$612 |
$1.45 |
$2,320 |
$1,708 |
| NS/NB |
$0.16 |
$576 |
$1.65 |
$2,640 |
$2,064 |
Quebec and Manitoba have the cheapest EV charging costs. BC is the most expensive for gas.
Maintenance Cost Comparison
| Maintenance Item |
EV (Annual) |
Gas Car (Annual) |
| Oil changes |
$0 |
$200-$400 |
| Transmission service |
$0 |
$100-$200 |
| Brake pads (regenerative braking extends life) |
$50-$100 |
$200-$400 |
| Engine air filter |
$0 |
$30-$60 |
| Spark plugs |
$0 |
$50-$150 |
| Exhaust system |
$0 |
$100-$300 |
| Coolant flush |
$50-$100 |
$100-$200 |
| Tires (EVs slightly heavier = faster wear) |
$300-$600 |
$250-$500 |
| Wiper fluid/wipers |
$30-$50 |
$30-$50 |
| 12V battery |
$50-$100 |
$50-$100 |
| Total Annual Maintenance |
$480-$950 |
$1,110-$2,360 |
| Annual Savings (EV) |
$630-$1,410 |
— |
Insurance Comparison
| Factor |
EV |
Gas Car |
| Annual premium (average) |
$1,800-$2,800 |
$1,400-$2,200 |
| Difference |
10-30% more for EVs |
— |
| Why EVs cost more |
Higher repair costs, specialized parts |
— |
| Trend |
Narrowing as EVs become more common |
— |
10-Year Total Cost of Ownership
| Cost Category |
EV |
Gas Car |
| Purchase (after incentives) |
$42,000 |
$36,000 |
| Fuel/energy (10 years) |
$5,000 |
$25,600 |
| Maintenance (10 years) |
$7,000 |
$17,000 |
| Insurance (10 years) |
$22,000 |
$18,000 |
| Tires (10 years) |
$4,500 |
$3,750 |
| Registration/licensing |
$1,500 |
$1,500 |
| 10-Year Total |
$82,000 |
$101,850 |
| Savings (EV) |
$19,850 |
— |
Example uses mid-range vehicles with Ontario costs and federal incentive only.
Charging Options and Costs
| Charging Level |
Speed |
Cost |
Best For |
| Level 1 (home outlet, 120V) |
5-8 km/hour |
~$0.13/kWh (home rate) |
Overnight, low-mileage drivers |
| Level 2 (240V home charger) |
30-50 km/hour |
~$0.13/kWh + $500-$1,500 install |
Most EV owners |
| Level 3 (DC fast charging) |
250-400 km/hour |
$0.30-$0.60/kWh |
Road trips, public use |
Home Charging Setup Costs
| Item |
Cost |
| Level 2 charger (purchase) |
$500-$1,200 |
| Installation (electrician) |
$500-$2,000 |
| Electrical panel upgrade (if needed) |
$1,000-$3,000 |
| Typical total |
$1,000-$2,500 |
Cold Weather Impact (Canadian Reality)
| Factor |
Impact on EVs |
| Range loss in winter |
20-40% reduction at -20°C |
| Heating the cabin |
Uses battery (heat pump helps) |
| Precondition while plugged in |
Warms battery and cabin without range loss |
| Winter tires |
Required (same as gas cars) |
| Battery degradation |
Minimal if managed properly |
| Charging speed in cold |
Slower unless battery is preconditioned |
EV vs Gas: Decision Framework
| Factor |
Choose EV If… |
Choose Gas If… |
| Home charging |
You have a garage/driveway |
Condo/apartment with no charging |
| Daily driving |
Under 300 km/day |
Very long daily commutes |
| Budget |
Can afford higher upfront (or lease) |
Need lowest purchase price |
| Province |
Quebec, BC, PEI (best incentives) |
Province with no incentives |
| Environmental priority |
Important to you |
Less important |
| Driving style |
Mostly city/suburban |
Frequent very long highway trips |
| Resale |
Good for popular models |
Better for trucks (currently) |
Resale Value
| Vehicle Type |
3-Year Resale (% of MSRP) |
5-Year Resale |
| Popular EVs (Tesla, Hyundai) |
60-75% |
45-60% |
| Budget EVs (Bolt, Leaf) |
45-60% |
35-50% |
| Gas sedans (Camry, Civic) |
65-75% |
50-60% |
| Gas SUVs (RAV4, CR-V) |
70-80% |
55-65% |
EV resale is improving as demand grows. Tesla holds value best among EVs.
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