Before spending a whopping $50,000 and above on a dazzling new electric car, I am sure you would have at one point or another made a research to know “how much it will cost to charge an electric car.” And also, would you be saving on gas? or did your expenses just add? Well, if you ask me, I would say; it depends on the model of electric vehicle (EV) you buy and where you decide to charge it. Although it’s said that EVs generally cost less to charge, than to refuel a car, like cars that make use of fuel or diesel, it depends on the EV model and whether you want to charge it at home or at a public charging port.
If you would love to charge your electric vehicle at home, then it’s possible that it can potentially be one of the power-hungriest things attached to your house. Will your electric bill go through the roof when you charge at home?” Well, not necessarily! As you make use of an electric car, your costs on gasoline would reduce and since electricity bills depend on various factors, charging your electric vehicle at home wouldn’t triple your average bill!. How do I know?
Well, let’s find out how much it costs to charge an electric car at home.
Cost of charging an electric car at home
According to a report published by the US Energy Information Administration, in 2021, the residential electricity cost per average kWh is 13.73 cents. Now, since most electric cars travel 3 to 4 miles per kilowatt-hour, 1,000 miles per month would be about $34 to $46 for charging at home.
In general, most electric cars can travel 3 to 4 miles per kilowatt-hour (kWh) of energy, according to the US Environmental Protection Agency. In 2021, residential electricity cost 13.73 cents per kWh on average, per the US Energy Information Administration. At that rate, someone who drives 1,000 miles per month would spend anywhere from $34 to $46 charging at home.
Although many home chargers are said to be slow, most owners now make use of powerful level 2 chargers. These chargers use an upgrade of 240-volt circuit to deliver about 30 to 50 miles of range per hour and cost about $600 with an additional $800 to $1,500 for installation.
Cost of charging electric cars at home – using 3 EVs as example
| Car Name | Battery Size | Approximate Electric Range | Cost to Fully Charge | Cost Per Mile |
|---|---|---|---|---|
| Nissan Leaf (2018) | 40KWh | 168 Miles | $11.78 | 6.67p |
| Tesla Model S (100D) | 100KWh | 388 Miles | $29.45 | 7.22p |
| Mitsubishi Outlander PHEV (2019) | 13.8KWh | 28 Miles | $4.06 | 13.8p |
Cost of charging an electric car at work
As more and more businesses and organizations around the US opt to install electric car’s charging facilities, the cost of charging at work has varied a lot with many organizations offering free charging as incentive to workers while others set a paid tariff plan.
In the same vein, some businesses offer a time-based subsidized charging tariff to encourage sharing of charging stations by workers. While others set a period or time at which one can charge for free and after the time elapses comes a paid plan to charge.
Cost of charging an electric car at a rapid charging station
While it’s most unlikely for rapid charging stations to be part of your daily charging routine, it’s vital when you are embarking on a long journey and need to refill faster. The reason is because our home and office chargers are capable of fulfilling our electric car’s charging needs at lower cost throughout the entire day.
You can find rapid chargers along motorway service stations and they range from being free to one of the most expensive ways to charge your electric car. Pod Point’s rapid chargers cost between 20 to 27p/KWh which is about $6 to 8 for charging 30mins worth of about 100miles of range.
Conclusion
Generally, electric cars are cheaper to recharge than refueling a gasoline car, especially if you own an efficient model and charge at home. As gas prices continue to increase – hovering above $4 per gallon, the cost difference is even higher.
According to a per-mile fueling cost analysis by a consulting firm known as ICF Climate Center, the cost of running a gasoline vehicle is now three times higher than that of an electric car. But would that also be true for the cost of maintaining an electric car?
While vehicle maintenance routines such as restoring your car’s headlights using a headlight restoration kit might be the same for both vehicles, experts say it’s a bit cheaper to maintain an electric vehicle compared to that of its gasoline-drinking counterpart.
