Electric vehicles keep growing in popularity. However, many drivers are still wondering what it really costs to keep one charged. EVs are generally considered cheaper to operate than gas-powered cars, but the actual numbers depend on several different factors. Understanding these costs helps highlight potential savings and some surprising insights about electric driving on today’s roads.
Average Cost to Charge an EV at Home
Charging an EV at home is usually the most cost-effective option. Average electricity rates across the United States typically range from $0.12 to $0.18 per kilowatt-hour. A full charge for an EV with a 60 kWh battery should cost between $7 and $11. However, most drivers don’t charge their EVs from empty to full every day. Rather, they top off the battery, lowering daily charging costs. As such, monthly charging costs typically range from $30 to $70, depending on local utility rates and personal driving habits.
Many utility providers offer what’s called time-of-use pricing. Charging overnight during off-peak hours is significantly cheaper in many markets, making EV ownership more economical in the long run.
Public Charging Costs and Variability
Public charging costs vary much more. Level 2 chargers might cost a little more than home electricity rates, but DC fast chargers can be a lot more expensive. Fast charging at a public station might run between $0.25 and $0.50 per kilowatt-hour. A full charge could range from $15 to $30, depending on location and vehicle.
Fun Facts About EV Charging Costs
One fact about EV charging that surprises many people is that it can cost less than running some common household appliances for a similar period. For instance, if you charge an EV overnight, it might cost less than running your central air conditioning on a hot afternoon.
Free charging is sometimes available at public locations and select workplaces. Take advantage of these opportunities to further reduce your overall expenses. Utility companies and local governments occasionally feature rebates and incentives that also offset charging costs.
Additionally, EV charging costs have historically remained relatively stable. In contrast, gas prices fluctuate frequently and significantly in response to global market conditions.
What Drivers Should Keep in Mind Moving Forward
Look at more than electricity rates. Consider how often and where you need to charge, and always remember that individual driving habits impact energy use. EV ownership can be financially appealing if you take advantage of potential incentives, enjoy predictable pricing, and find the lower per-mile costs appealing. However, public charging can be more expensive. Home charging is consistent and affordable for daily driving. If you live in Rochester, NY or a surrounding area and need EV charger services, make your first call to Nichols Electric and Plumbing.
