There are plenty of important factors to consider if you’re looking to make the switch to an electric vehicle (EV). Among those considerations, besides the cost of the vehicle itself, is how much it’s likely to cost to charge an electric car versus the cost of filling up your tank with gas.
Naturally, the ease and convenience of charging up with ahome EV charging stationare bound to appeal to motorists. Yet, this brings with it concerns about the potential hike in your electricity costs.
You’ll be pleased to know that in the long term, the cost of doing so will be considerably less than what you would have paid for fuel. However, to fully understand how much it costs to charge an electric car, you need to factor in the price of public charging as well as home charging, including the associated cost of installing your charging station.
How are the rates for public EV charging stations determined?
Before we can understand the cost of charging an electric vehicle at a public charging station, it’s important to establishhow that cost is calculated.
Regulations on cost structures for electricity rates vary from state to state, so the cost of using a public charging station will depend on your geographical location. However, essentially, there are two ways in which a public charging station can charge you for electricity.
The first is in kilowatts per hour (kWh). This is the standard metric used by utility companies to measure consumption and is the same way that energy will be charged if you use a home charging station. This will likely be billed in cents per kWh.
To put this into context, the average power output in kW for a 32 amp Level 2 home charger can be anywhere between 7 kW and 19 kW. Typically, this will be considerably higher at a public Level 3 charging station. Assuming a total capacity of 68 kW (the average for an electric car), charging your vehicle on a Level 2 home charger would take between 4 and 10 hours.
This can be improved by opting for a 40 amp charger, like theEnel X Way JuiceBox 40model, which supplies 32 to 35 miles of range per hour of charge time, significantly reducing the total charge time.
Alternatively, the second way in which public charging stations may charge you for electricity is by the minute. This electric flow will be regulated by state legislation, with the supplier then free to charge for their electricity using whichever method they prefer.
Electric vehicle charging costs at public charging stations
As you might expect, the cost of charging your car at a public station is more than charging at home. Public charging stations that calculate their charges based on kWh, can levy charges anywhere between $0.30 and $0.60 per kWh. The equivalent cost of charging at home would be approximately $0.16.
Exact costs can of course depend on the type of charger and local electricity regulations. However, you’re able to expect to see a mark-up of 100%, compared to using a home charger.
Small wonder then, that most EV drivers prefer to charge up at home whenever possible.
Availability of free public charging stations
The vast majority of public charging stations require payment in one form or another. You may find a few exceptions, such as supermarkets or restaurants that offer a limited number of free-to-use chargers, but in most cases, you should expect to be charged for using public stations.
Cost of EV charging at home
By far the most cost-effective way of charging your electric vehicle is doing so at home. Buying and installing a high-quality charging system at home is comparable to that of maintaining a gas-powered vehicle over a 12-month period.
Normally, you can expect to receive aLevel 1 chargerwith the purchase of your EV. These use standard 120-volt connections, cannot be connected to your Wi-Fi, and cannot therefore be used to optimize charging times to save money.
In comparison, Level 2 home charging stations use a 240-volt connection which supplies power to your vehicle much faster. They cannot be plugged directly into a standard outlet, as they need to be hardwired or plugged into a larger outlet.
Therefore, using a Level 2 charger at home will require equipment and installation costs. These costs can range anywhere from $600 to $2,000. However, this is a one-off expense that will save you much more money down the road.
Charging expenses for your EV based on state
Whatever home charger you have installed, the cost of charging your EV will largely depend on what you pay for electricity. Naturally, this can vary depending on where you live, and what type of vehicle you drive. To work out a ballpark figure, you need to factor in the cost of electricity in your area, your EV’s battery capacity, and the typical drive range it offers. This will help you budget for the associated costs.
How can I minimize home EV charging expenses?
By investing in a high-quality Level 2 smart charging station, such as theJuiceBox smart chargeryou can optimize charging times, making it much more efficient and cost-effective to charge your car at home.
Checking the pricing structures for power in your local area can be beneficial, too. Utility charges may be higher during peak times, so it may be advisable to charge your vehicle during off-peak times, wherever possible.
Costs can be further reduced by ensuring your car isn’t plugged in any longer than necessary. By using theEnel X Way Appit’s easy to optimize charging during the cheaper times of day, but also ensuring you have a full charge when needed. Plus, by usingJuiceNet Green, you don’t have to worry about when it is best to charge your EV, as the software determines the cleanest and most affordable charge possible for you.
EV charging costs: The bottom line
By far the most cost-effective way to charge your electric vehicle is to do so at home.
Using a home charging station will save you a considerable amount of money compared to using public charging stations, and will certainly be much less expensive in the long term than fueling a gas-powered vehicle. By choosing one ofEnel X Way’s JuiceBox charging stationsyou can charge your electric vehicle faster, making home charging the most convenient and efficient option all around.
