For families weighing the switch to electric vehicles, fuel costs are a major consideration. Comparing a Tesla Model Y to a Toyota Sienna reveals significant savings potential — but the actual numbers depend on where you live and how you drive.
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Here is the breakdown on the costs of running a fuel-efficient, traditional-engine vehicle versus a notable electric-powered one.
Monthly Fuel and Power Costs: Sienna vs. Tesla
The average American driver covers approximately 1,100 miles per month, according to the U.S. Department of Transportation. Using this benchmark, the cost differences become clear — electric vehicles (EVs) win. However, that’s not the entire story.
Try This: Here’s What It Costs To Charge a Tesla Monthly vs. Using Gas for a Nissan Altima
Tesla Model Y Charging Costs
The Tesla Model Y Long Range uses approximately 250 kilowatt-hours (kWh) of electricity for 1,100 miles of driving. With the national average residential electricity rate of $0.17 per kWh from the U.S. Energy Information Administration, monthly charging costs approximately $42.
However, rates vary dramatically by state. In Louisiana, where electricity averages $0.12 per kWh, monthly costs drop to around $30. In Hawaii, with rates near $0.42 per kWh, costs jump to approximately $105. Even there, the costs are nuanced and could be the cheapest possible, thanks to sunk costs. Home-solar installation is soaring in Hawaii to reduce utilities, since the panels pay for themselves quickly in such a climate.
Toyota Sienna Gas Costs
Toyota says the 2024 Sienna achieves 36 miles per gallon combined. For 1,100 miles monthly, you’d need approximately 30.5 gallons of gas. At the national average of $3.20 per gallon, according to AAA, monthly fueling costs approximately $98.
In California, where gas averages $4.50 per gallon, monthly costs climb to $137. In lower-cost states like Mississippi, costs drop to around $85.
The Savings Breakdown
Using national averages, Tesla drivers save approximately $56 per month — or $672 annually –compared to Sienna drivers. Over five years, that’s $3,360 in fuel savings.
The savings grow in states with low electricity rates and high gas prices. California Tesla drivers could save $77 monthly ($924 annually) compared to Sienna drivers.
Under the right circumstances, charging an EV can be very cost-efficient, and under the worst ones, it’s still a desirable advantage over refueling an engine.
Beyond the Monthly Savings
While fuel costs favor the Tesla, other factors matter. The Model Y starts at approximately $47,740 versus $37,735 for the Sienna. However, the Tesla qualifies for up to a $7,500 federal tax credit from the IRS, narrowing the price gap.
Electric vehicles also typically have lower maintenance costs. Consumer Reports estimates EVs save approximately $4,600 in maintenance over the vehicle’s lifetime compared to gas-powered cars.
Home charging, especially during off-peak hours, maximizes savings. Many utilities offer time-of-use rates that can reduce electricity costs by 40% or more overnight.
The Bottom Line
Charging a Tesla Model Y costs roughly $42 monthly versus $98 for fueling a Toyota Sienna — a savings of $56 per month based on national averages. While the Tesla’s higher purchase price requires consideration, federal incentives and long-term fuel savings make the financial case increasingly compelling for families with home charging access.
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This article originally appeared on GOBankingRates.com: Here’s What It Costs To Charge a Tesla Monthly vs. Using Gas for a Toyota Sienna
