Whatever noble ideas about conservation, the reality is that it will be the cost comparison that is most influential to choice... but I don't see anyone making the right comparison, yet.
Cost of electricity vs gasoline is really about comparing one's existing vehicle to a new one with a high mileage equivalent... it is the operating cost break even point that must be found and the time it takes to get there...
I'm seeing a few ballpark figures here...
50 miles cost $2.98 using electricity=84mpg
35mpg/.3=117mpg
energy equivalent mpg at $4/gal: 104 mpg
Lets say 100mpg is considered...
Few people really run the numbers before replacing a gas guzzler with a new high mileage car. Doing so can be rather alarming, to say the least.
Let's say you already have an old truck that runs fine but gets only 12 mpg.
The new car gets 100 mpg but costs $35,000.
Let's say you drive 1000 miles per month.
And gas costs $4/gal
Driving the truck:
12 miles/gal at $4/gal is 3 miles per $1, so 1000 miles costs $333
So $333 per month to drive the truck
Driving the new car:
100 miles/gal at $4/gal is 25 miles per $1, so 1000 miles costs $40
So $40 per month to drive the new car
Plus the payment on the new car... with a perfect finance deal of 0 down and 0% for 7 years the payment would be $417
So $457 per month to drive the new car
The big question is, how long do you have to drive the new car to reach the break-even point after which you begin to realize savings over driving the truck?
You can already see right away that this point is beyond the first 7 years... the net monthly difference each month is going to be $417-333=$124 in favor of the truck for 7 years... let's see how much further it takes to break even and begin saving money.
The shift in cost of the new car happens when all the payments are finished in seven years. At that point the cost of operating the new car reduces to just $40.
During those 7 years, the $124 per month net difference in favor of the truck over the new car amounts to 84 months x $124 = $10416
So at the time the car is paid off the car has $10416 yet to save in order to catch up with the truck.
Now, after 7 years, only the fuel cost comprises the difference and the car has a net advantage of $333-$40 = $293 each month. The car is now catching up to the truck at the rate of $293 per month.
The car has $10416 to catch up, so at $293 per month it takes $10416/$293=35.5 more months to do so - almost another 3 years.
So, you have to drive the new car for about 10 years just to break even. This is what few people will bother to figure out - here an 833% improvement in gas mileage will begin to save you money only after 10 years of driving the new car.
I used an exaggerated mileage gap ( a gas guzzler vs a dream car priced low), a 0% finance, and did not include insurance, nor the 10 year time cost of money. Running more likely realistic values will just extend the break even point even further...