When you’re considering an electric vehicle, cost is most likely one of your top considerations. You’ll want to weigh not only the price of the car itself but also how much it costs to charge an electric car compared to what you would have paid for gas.
The ease of refueling with your own home EV charging station may sound appealing, but it’s understandable if you’re also concerned about what it will mean for your electric bill. The good news is that it will cost you far less than fuel in the long run. To understand exactly how much it costs to charge an electric car, though, you’ll need to consider the price of public charging and home charging, including the costs of installing your own charging station.
To understand how much it costs to charge an electric car at a public charging station, we must first establish how the cost is calculated. There are regulations in individual states that define how charging stations can structure their rates for electricity. The cost to use a station varies by location, and especially by state, but there are two ways that a public charging station can charge for electricity.
The first way they charge is the same way energy is priced at a home charging station, which is in kilowatts per hour, or kWh. This is the standard metric utility companies use to measure electricity use, and they bill in cents per kWh.
The normal output power (kW) for a 32 amp Level 2 home charger is between 7 and 19 kW and it’s typically much higher at public Level 3 stations. Many EV drivers like a faster charge at home, so they opt for our best-selling home charger, the JuiceBox 40, which has 40 amps and can give you 32 to 35 miles of range per hour. On average, electric vehicles have a capacity of 68 kW, meaning a full charge on a Level 2 charging system would take between 4 and 10 hours.
Alternatively, some public charging stations charge for electricity by the minute. In that case, charging systems will have a standardized amount of electricity flowing into the car per minute. Again, this electric flow is regulated by state legislation, and the companies providing the electricity can then charge as they see fit. Usually, charging stations round up to the nearest 30 seconds.
Overall, charging your car at a public EV charging station is more expensive than charging at home. Public charging systems that charge based on kWh average anywhere between $0.30 and $0.60 per kWh compared to $0.16 per kWh at home. The exact amount depends on local electricity cost and regulations, as well as the type of charger. Level 2 chargers generally cost between $0.20 and $0.25 per kWh, while Level 3 chargers, which are more common in public, range from $0.40 to $0.60 per kWh.
However you look at it, public charging comes with a markup of at least 100% compared to charging your electric car at home. As a result, most EV drivers charge at home if they can because it’s cheaper and more convenient, and you can often avoid the detour of refueling.
Today, the majority of public charging stations require some form of payment, whether EV drivers are expected to be a member of a particular network and pay a nominal monthly fee for this service or pay directly at the charging station.
Some locations offer EV charging as an amenity to attract new customers. For instance, some shopping malls, supermarkets and restaurants have a limited number of free chargers, and you can even find them at some hotels and universities. Nonetheless, these stations represent a small fraction of the total number of public charging stations. Free charging is undoubtedly one of the best ways to cut charging costs if you are one of the fortunate EV drivers with convenient access.
Home charging stations are still the most viable and cost-effective option for electric vehicle owners. The best way to reduce charging costs for an electric vehicle is to charge your car at home.
Home charging station costs come down to the cost of equipment, installation, and your home electricity rate. Buying and installing a high-quality home charging system is approximately equal to a year of typical maintenance for a gas-powered vehicle. Additionally, the minimum tax credit provided by the IRS for purchasing a new electric car is almost double the amount of buying and installing a new home charging system.
A Level 1 charger will usually come free with your EV purchase, so it can serve as a helpful starter system. Level 1 chargers use standard 120-volt connections, so they can be plugged directly into your home's standard wall socket and begin charging almost immediately. These chargers are also more portable than Level 2 chargers. However, Level 1 chargers don’t connect to Wi-Fi, so you can’t optimize charging schedules or times to save money.
Level 2 home charging stations use a 240-volt connection to power your electric vehicle quickly and efficiently. Unlike Level 1 chargers, Level 2 EV chargers cannot be plugged directly into a standard outlet because they must be hardwired or plugged into a larger outlet. This means there are equipment and EV installation costs associated with using a Level 2 charger. Again, it’s worth noting that these costs are often offset by the tax credits you can get from the IRS when buying a new electric vehicle.
The overall average cost for a high-quality Level 2 charging system ranges between $600 and $2,000 depending on your house’s electrical system. This includes parts, labor, and installation. While this cost may seem a bit daunting, it’s a one-time expense that will save you money and pay off in the long run.
Once you’ve installed an EV charger at home, it all comes down to what you pay for electricity. That varies substantially depending on where you live and the car you have.
The following table shows the average cost of electricity in each state and the associated cost to charge an electric car from empty to full based on the smallest, average, and largest EV battery sizes. For comparison, the U.S. average is listed at the bottom.
2. Your EV's battery size
The larger the battery, the more you’ll pay per charge. At the same time, a bigger EV battery usually translates to a longer range and lower cost per mile. Using our calculations from above, it’s almost $4 cheaper to fully charge a Nissan Leaf compared to a Tesla Model 3, but when you consider range, the Nissan Leaf actually costs more per mile.
3. The type of EV charger you use
Charging your EV is more complicated than the energy storage capacity of the battery itself. Some energy is lost as heat, some keeps the battery at an adequate temperature, and some escapes as transmission loss. The type of charger you use can impact the amount of energy expended on a charge.
EV chargers are classified as Level 1 (L1), Level 2 (L2), and Level (L3). Level 1 chargers (120-volt chargers, using a regular outlet) and Level 2 chargers (240-volt standard home EV chargers) convert alternating current (AC) electricity from your home into direct current (DC) electricity that your EV's battery can store and use. The heat produced by this AC-to-DC conversion causes some energy loss.
Level 3 chargers (400+ volt chargers found at charging stations) provide DC electricity, so no conversion losses occur. While L3 chargers are more efficient, their rapid charging capabilities can cause battery degradation. If you can, it’s best to save your L3 charging for long road trips or when you need a quick charge in a pinch.
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