Will switching to a Tesla Model 3 save you money?
The short answer: yes.
If we assume you will drive 50 miles per week with a car that goes 23 miles per gallon, then you will go through 8.7 gallons of gas per month.
In Houston TX, you will pay $18.3 per month in gas.
In New York City, NY, you will pay $22.4 per month in gas.
If you were to switch to the new Tesla Model 3 the amount of money you would need to spend on the additional electricity required to charge it would be less than the amount of money you pay for gas currently.
In Houston, you would pay $7.36 per month to charge your car (saving $12.64).
In New York, you would pay $12.04 per month to charge your car (saving $12.72).
These prices are assuming you are getting your power from the electricity grid. If you were to switch to a completely renewable electricity plan, such as powering your home through SolarCity, you would pay even less. Additionally, switching to power your home and appliances from renewables would further reduce your environmental impact as in powering and using your car, you would not release any greenhouse gases.
Seems like an electric car is the way to go to save the environment and your wallet, and switching to power your home by renewables will take you that extra mile.