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EV vs gas cost in Indiana: $962 a year saved at 12,000 miles
With Indiana electricity at 17.04¢/kWh and regular gasoline at $4.14/gal, a typical EV (0.3 kWh/mile, charged 80% at home) costs about 6.8¢ per mile to run versus 14.8¢ per mile for a 28 mpg gas car. That beats gas by $962 a year at 12,000 miles. Indiana ranks #23 of 51 (50 states + DC) for annual savings and #32 for lowest residential electricity price.
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What the Indiana numbers say
- Electricity: Indiana residential average is 17.04¢/kWh year-to-date through July 2026, 6% below the U.S. average of 18.19¢. It is up 7.4% from the same period in 2025. Latest single month (July 2026): 16.73¢.
- Gasoline: $4.14/gal (EIA regional series: Midwest (PADD2)), up $1.34 from a year ago. The U.S. average is $4.28.
- Cost-equivalent MPG: a gas car would need about 61 mpg to cost the same per mile as this EV in Indiana.
- If prices move: at 20% cheaper gas ($3.32) the yearly EV saving would be $606; at 20% higher electricity (20.45¢) it would be $864.
What this leaves out: purchase price, tax credits, insurance, maintenance, depreciation, home charger installation, time-of-use rates and cold-weather range loss. Your utility's own rate may differ from the state average. See the methodology.
Cost to run common things in Indiana
- Space heater (1,500 W): $0.26 per hour
- Electric blanket (200 W): $0.27 per 8-hour night
- Window air conditioner (1,000 W): $0.17 per hour
- Electric clothes dryer: $0.51 per load
- Dishwasher: $0.17 per load
- Refrigerator: $77 per year
- Gaming PC (300 W under load): $0.05 per hour
- EV home charging (per 100 miles): $5.11 per 100 miles
Heating this winter? In Indiana a heat pump costs about $19.98 per million BTU of heat vs $11.88 for a gas furnace and $29.45 for propane. Heat pump vs furnace in Indiana.