The most frequently asked question about electric cars is how much it will cost to charge it.
If you’re looking at an electric car vs. Making some preliminary research on charging compared to gas costs before purchasing a gas vehicle will help you make an informed choice.
We enlisted the assistance of John Voelcker, a seasoned automotive journalist and industry analyst who specializes in electric vehicles, to provide an answer to the cost question. Every argument made in favor of (or against) owning an electric vehicle has been presented to him, including the higher cost of recharging than conventional refueling.
What You’ll Pay to Charge an Electric Car
Electric car owners in the US currently charge their vehicles at home 88% of the time, according to J D. Powers, adding to their electricity costs.
Take a look at your most recent electric bill to get an idea of your costs. It should detail your current kilowatt-hour (kWh) usage and your cost per kWh. The energy required to run a 1,000 watt appliance for 60 minutes is equal to one kWh.
As of Nov. 2021, the national average price of electricity is 13. A cost-effective electric vehicle can travel four miles on a kWh for just seven cents.
Therefore, to properly charge your car if you typically drive it 1,000 miles per month, you’ll need at least 250 kWh. At 13. 7 cents per kWh, that will cost you $34. 25 a month.
Your electric bill will undoubtedly be higher if you reside in a state where the cost of electricity is higher, such as California. At the time of writing, the cost of a kWh in California is 22. 81 cents. So you would pay $57 if you drove 1,000 miles per month. 03.
When you purchase an electric vehicle, you can typically charge it at home using level one EVSE, existing electrical outlets, and a dedicated branch circuit. However, a level one EVSE can be cumbersome, making it challenging to quickly charge your vehicle.
Because of this, many homeowners choose more sophisticated, level two charging stations. You can increase your range by 10 to 20 miles with a level two EVSE in just one hour of charging.
A level two EVSE needs specialized charging hardware and a different, stronger electrical circuit. You also have to pay installation fees. A level two EVSE system typically costs between $400 and $6,500 for the equipment and between $600 and $12,700 for installation.
Another way to supply the energy needed to charge your car is by installing solar panels on your home. However, it can be expensive to install solar panels as well as an EVSE for your car.
After federal solar tax credits, the price of a 10 kWh solar panel system can range from $17,538 to $23,458.
How Much Does It Cost to Charge an Electric Car?
Charger costs for electric vehicles vary depending on a number of factors. How much power does an electric car use, how often do you need to charge it, and how much does electricity cost where you live?
How often your EV needs charging will depend on how far you plan on driving it. If you are going on an extended road trip, you’ll need to make more stops for charging than if you are only using the car to run errands close to home. Nationwide, the average cost of electricity is $0.12 per kWh. At that rate, someone who drives their EV 15,000 miles in a year will pay approximately $540 per year, or $45 per month, to power it. That results in substantial savings, as someone driving a gas-powered car over the same yearly distance will pay approximately $1,400 in fuel costs.
Depending on where you charge your EV, costs may also change. At-home charging is a major convenience factor for EV owners. You can charge your car at home rather than at a gas station. You are responsible for the cost of the electricity the car needs to charge if you use your home charger.
To plug in at home, you will need an electrical outlet near where you park your car, either outside or in your garage. At-home charging can be level 1 or level 2. Most EVs come with a level 1 connector kit, allowing users to plug the car into a standard outlet. You also have the option of investing in a level 2 charger for your home, which increases the vehicle’s miles of range per hour. A wall-mounted level 2 charger will cost $500 to $700 and require professional installation, which will incur additional costs. DC fast charging is another option, most frequently found at public charging stations, which can give cars enough charge for 50 to 90 miles within half an hour.
Most electric vehicle drivers do 80% of their charging at home, which means you will be paying your standard electricity rate to charge the car. Your utility may even offer you incentives that will help EV owners capture savings. If your electricity costs $0.12 per kWh and you need to charge a 24 kWh battery fully, the total cost will be $2.88.
If you’re considering buying an electric car, you should also think about the cost of using a public charging station. While you might do most of your charging at home, sometimes it may be more convenient or even necessary to charge up at a public station. There are thousands of electric vehicle charging stations across the United States. You can opt to pay for public charging a few different ways. If you only need an occasional charge, paying as you go makes the most sense. Pay-as-you-go prices might have a per-minute or per-kWh structure. The price of charging depends on your location. Do you live somewhere, like California, where electricity costs are higher than the national average?
If you often need to use public stations to charge your EV, you might want to consider a subscription payment model. Monthly membership fee prices typically range from $4 to $7.99. However, in some cases, you may be able to take advantage of free public charging stations.
Whenever you use an electronic appliance, you’ll pay for that energy on each month’s electric bill. As a result, you may be wondering about at-home charging’s effect on your utility bill. Many people opt to charge their EVs at home overnight. It can take three to 12 hours to fully charge your EV’s battery, depending on the car model and charging level. How much electricity does an EV use? It depends on the EV you buy, how often you drive it and your electricity costs. Electricity rates will vary, depending on where you live, but there does tend to be less fluctuation in the price of electricity than that of gasoline.
To understand the cost of charging your EV, you will need to know your kWh rate. Your electric bill will show you how many kilowatt-hours you use per month, and the utility charges based on your usage. Some electric utilities offer EV owners discounts for charging their vehicles. Assuming you drive your EV the average 15,000 miles per year with the estimated $540 in annual charging costs, you can expect to see that dollar amount reflected on your electric bill: $45 per month.
Drivers save an average of $632 per year when they choose an EV over a gas-powered vehicle. You can even receive federal and state tax credits, which incentivize EV purchases. However, you still need to pay to charge your electric vehicle. How can you save on the charging costs for your EV?
Enter your contact information if you’re interested in learning more about green electricity plans; we’ll respond to your inquiries so you can have an impact!
How Does the Recharge Cost Compare to a Fuel Fill-Up?
According to AAA, the average price of gas hovers at $3.88 per gallon as of this writing. So, filling up a 12-gallon gas tank currently costs about $47. Things get a little tricky because, as we all know, cars and trucks use vastly different amounts of fuel.
Consider driving a small, fuel-efficient vehicle that gets 30 miles per gallon on average when you combine highway and city driving. For each fill-up, based on the same 12-gallon tank, you’ll have a driving range of 360 miles. With the same 1,183 miles per month of driving, you’ll need to refuel just over three times per month, which will cost you about $182 ($47 x 3). 88).
Once more, this is just an estimate because gas prices and mileage differ. However, given that few cars and SUVs deliver a combined average of 30 miles per gallon, it is clear from our fairly conservative number-crunching in this case that recharging will be less expensive than refueling a car. With a more fuel-efficient vehicle, the financial gap is reduced, but it still exists.
How much does your electric bill go up from charging an electric car? (Not much…)
FAQ
Do electric cars make your electric bill go up?
Your monthly utility bill will typically increase by $30 to $60 due to charging an electric car. Electric vehicles may be more expensive to purchase than conventional vehicles, but they typically cost less to maintain and refuel.
How much does it cost for a full charge on an electric car?
Your mileage is directly dependent on your battery capacity. The majority of EVs typically have a range of 3 to 4 miles per kilowatt-hour (kWh) of energy. If the range of your vehicle is 300 miles, a full recharge would take 75–100 kWh and cost $10–$14.
Does electric cars use a lot of electricity?
According to fueleconomy.gov, Americans travel 14,000 miles annually on average. gov, EVs consume an average of 0. 35 kilowatt-hours (kWh) per mile driven. Given these numbers: 14,000 miles per year equals roughly 38. 4 miles per day. With a level 2 home EV charger, that’s about 13. 4 kWh of electricity daily.
Do you really save money with electric cars?
Generally speaking, driving an electric vehicle (EV) can cost about half as much as driving an equivalent gasoline vehicle. Using national averages, EV drivers pay $1. 22 to travel the same distance as a standard vehicle would on a gallon of gas.
Reference:
https://www.investopedia.com/how-much-does-it-cost-to-charge-an-electric-car-5186285
https://www.shipleyenergy.com/resources/energy-guides/cost-to-charge-an-electric-car-how-it-affects-your-electric-bill/