How much does it cost to charge an electric car?

As the overall cost of owning an electric car decreases, the question of how much you'll spend at the charging station remains for many. Is it comparable to a gas tank? The answer depends on several factors, including where and how you charge.

A complex cost landscape

Several charging methods exist for electric vehicles (EVs). Which one you use will determine how quickly your battery charges and how much money it will cost you. For most EV owners, the average cost of charging will include a mix of public stations and the cost per kilowatt hour paid for energy from the local power grid when plugged into the house.

There are three levels of public EV charging available at the time of this writing. Level 1 is basically a wall outlet like you would use to charge your cell phone and can take days to recharge a completely drained battery. DC fast charging stations (DCFC), on the other hand, can get you around 80% charge in about half an hour, but are more expensive to use.

As for how much you will pay, it varies. Charges at EV charging stations range from free to a certain price per kiloWatt-hour (kWh) depending on your use. Major manufacturers of charging equipment in the United States, as well as automakers like Tesla and Ford, all have their own apps that drivers can use to pay. Apps offer subscription plans and some offer discounts. So how much you pay to charge your electric vehicle also depends on the type of car you drive and whether you have a subscription to, for example, Electrify America.

For EV owners who plug in at home, the question is how much the cost of the energy they use to charge will affect their electricity bill. Charging infrastructure may also need to be installed, which can represent a considerable additional expense. Factors such as how efficiently your vehicle uses electricity, its battery capacity in kiloWatt hours and distance traveled per day also affect the cost of charging an electric car at home.

There isn't necessarily a “best” way to bill that saves the most money. The vehicle, the battery and the driving habits of the person behind the wheel will most determine the cost of charging an electric car.

Public charging stations will vary

Some public top-ups are available for free. Free stations can be anything from a level 1 wall outlet to a level 2 standalone charging station. kWh. Free charging stations are usually found near businesses, for example in the parking lot of a restaurant or shopping center. The idea is that people can plug in and regain at least some power while they're inside.

Level 2 public EV charging stations are either chargeable for infrequent use, or you can purchase a subscription through the provider's app for a discounted kWh rate. If you know you'll be using one type of charging station more than others, a dedicated app might be helpful. But for most people, using any nearby station compatible with their vehicle is the best option. Usage-based billing is usually charged at the local electricity supplier's price per kWh. So if you were using a Level 2 charging station in Texas, where the average electricity cost is 12,8 cents per kWh in March 2022, you would pay $3,25 for 25 kWh of electricity. For context, that's about half the battery capacity of a base Tesla Model 3.

Level 3 charging stations are the most expensive at the time of this writing, charging drivers a premium for their relative speed. In California, for example, the average DCFC rate per kWh is $0,40. At this rate, it would cost $10 to charge that same 25 kWh of juice. Tesla Supercharger stations and other varieties of DCFC charging can be used with Tier 3 stations at most public charging port groups. However, not all EVs are designed to accept the higher amounts of electricity these stations use, so keep that in mind before you go online – you'll still pay the higher rate without benefiting from a recharge. faster.

Most public charging stations in the United States are run by a small group of companies, although that number is growing. These companies, including EVgo, ChargePoint, Electrify America and others, often offer discounted fares at their stations if drivers use their apps and pay a subscription fee. EVgo charges customers a per-minute rate based on the plan they sign up for and where in the US they bill. Other companies like EVCS offer a flat monthly fee for unlimited charging (with caveats of course) at their stations.

According to Treehugger, people in the United States pay an average of three to six times more to charge at a public charging station than it would cost to charge at home. People who live, for example, in an apartment complex or other form of housing without charging infrastructure should know the prices of nearby public charging stations and opt for free stations when possible.

Home charging costs less (in the long run)

Home charging is the cheapest option for electric vehicle owners, at least so far. If you have the time to use a Level 1 charger or already have a 240-volt outlet accessible with your electric vehicle's included adapter cord, no equipment installation is necessary. You can get level 1-2 charging in your garage and just pay the per kWh rate to your utility provider. This rate varies by state, so do the math before betting on home charging.

If you don't have a 240-volt outlet, you'll need to install either a wall outlet or a dedicated Level 2 charging station to get Level 2 charging in your home. Installing one can be expensive – around $1 on average. If you know you'll be in your EV for the long haul, however, the upfront cost pays off over time in savings on gas and public charging.

Several federal and state government incentives exist to help offset the cost of installing home charging equipment. The amount and qualifications change by state, so check to see if you qualify for one in your area.

Other factors: battery capacity, efficiency and driving habits

Just like a tank of gas, the bigger the battery, the more it costs to “refuel”. Smaller batteries cost less but offer less kiloyardage per charge than larger capacity options.

For a concrete example, let's look at Hyundai's Ioniq 5 EV. The base model has a 58 kWh battery. So a driver in Texas, where we've established the rate per kWh to be 12,8 cents, would pay about $7,54 to charge it empty at home. At a paid Level 2 public charging station like this one in Houston, they would pay $12,18 to charge a depleted battery at the maximum rate of $0,21/kWh. At this DCFC station near an Electrify America-owned Walmart, our hypothetical driver would pay $0,32 per minute at the maximum rate of 350 kW of power, which works out to $9,60 for half an hour of charging time.

However, there is a good chance that the battery will not run out every time someone goes to a public charging station to fill up. The rate paid will depend on how much power they end up using or, in the case of per-minute rates, how much time they spend charging. Some stations charge a session fee of a few dollars on top of the per kWh rate. If you pay a subscription fee through a provider like the EVgo app, that's another cost.

Battery efficiency and the demands placed on it by daily driving will also determine your kiloyardage per charge. Sporty models like the Porsche Taycan are designed to put a lot of power into the engine for more speed, so it uses more energy per trip and ultimately gets less range. This means more charging sessions and more money paid per month.

Unlike gas-powered cars, many long highway trips drain an EV's battery faster than city driving. If you regularly commute long distances, this is something else to consider. Heavy use of air conditioning and infotainment systems will also impact battery life. The more you use the battery, the faster it drains and the more often you have to pay to recharge it.

Costs are driver specific

So, is it cheaper to charge an EV than to fill a gas tank? As of this writing, yes. Even in markets where electricity is more expensive, it still costs less to charge an EV than to refuel.

In summary, the cost of charging an electric car depends on several factors, from battery capacity to the charging methods available to you. When shopping for an EV, think about things like the number of kilometers you travel, the battery capacity of the EV you want and whether you can charge it at home.

Electricity prices in your area will impact costs whether it is best to charge at home or at public stations. If you must use public stations, consider your access to free stations and how reliably you will be able to use them.

All of these factors will determine the average cost of charging your EV. Ultimately, the cost to you will depend on calculations unique to your driving habits and needs.