Cost to Charge an Electric Car & How It Affects Your Electric Bill

How Much Does It Cost to Charge an Electric Car?

The cost of charging an electric car depends on various factors. How often do you need to charge the vehicle? How much power does an electric car use? How much does electricity cost in your area?

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.

Costs can also vary, depending on where you charge your EV. At-home charging is a major convenience factor for EV owners. Instead of stopping at a gas station, you can plug your car in at home. If you use your home charger, you are paying for the electricity the car needs to charge.

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.