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.