How much does it cost to charge an EV at home?
The short answer is it can vary, but charging at home is generally the most economical and could range from $5 to $15 dollars to charge an average 68 kWh battery fully. Factors such as regional electricity prices, types of EV chargers and your EV battery will all contribute to the expected cost.
The shift from fuel-consuming autos to eco-friendly EVs can be overwhelming, particularly with regards to the charging expenses. Many prospective EV owners want to fully understand the cost of charging an electric vehicle at home.
Let’s break it down in easy to understand examples and uncover just how affordable charging an E-car at home truly is.
Table Of Contents:
- Understanding the Cost to Charge an Electric Vehicle
- Factors Influencing EV Charging Costs
- Estimating Home Charging Costs for Your Electric Vehicle
- Benefits and Costs Associated with Overnight Charging at Home
- Investing in Level 2 Chargers for Faster Home Charging
- FAQs in Relation to How Much Does it Cost to Charge an Ev at Home
Understanding the Cost to Charge an Electric Vehicle
Determining the cost of charging your electric vehicle requires a deeper exploration, as there are many factors that play into it.
There’s a science behind it, but the formula is pretty simple to start out with.
The average cost of a kWh on your plan X the average kWh you use to drive each month = $ Per Month
In Texas, we can look at some typical examples for EV drivers in the Lone Star State.
- In 2022, the Department of Transportation Federal Highway Administration released that on average, Americans drove approximately 13,476 miles annually. This would be equivalent to driving about 1,123 miles per month.
- Electric vehicles (EVs) can get about 3 to 4 miles per kWh on average
- The average residential energy rate in Texas in the past year is 14.19 ¢/kWh
Using these statistics, we can calculate the average monthly cost.
First, to determine the amount of kWh used to drive each month, one would divide the total miles driven in a month by the amount of miles per kWh their EV gets. For instance, if you drive the average 1,123 miles per month and own an EV which gets 4 miles per kWh, you would use approximately 281 kWh per month (1,123 / 4 = 280.75 ≈ 281).
After determining your kWh usage per month, you may multiply that number by your energy rate to calculate the amount of money you will pay each month to power your electric car. If you had the average Texas residential energy rate and used the average amount of kWh per month that we previously found, you could expect to pay about $39.84 (281 x 0.1419) per month to charge your EV.
Factors Influencing EV Charging Costs
Your EV charges, but at what price?
The type of EV you drive matters significantly. Different models have varying battery sizes which impact how much electricity they consume during each charge session.
Electric vehicles (EVs) typically use two main types of batteries: lithium-ion batteries, which are commonly used by manufacturers like Tesla and Jaguar, and nickel-metal hydride batteries, which are found in hybrid vehicles like Toyota. These battery technologies help power EVs and contribute to their overall performance and range.
Average cost per kWh for residential energy:
- This is where understanding electrical power costs becomes essential. The national average rate for residential electricity hovers around 16 cents per kWh, but this can fluctuate based on location and provider.
- The average kWh in Texas is around 14 cents per kWh and fluctuates based on different plans available and current electricity rates.
Mileage Impacts Your Energy Consumption:
- The average cost to charge an EV depends heavily on how much you drive.
- An EV gets between three to four miles per kilowatt-hour (kWh).
Type of EV Charger Used: Level 1 vs Level 2 Chargers:
You also need to consider whether you’re charging with a standard outlet (Level 1 chargers), or if you’ve upgraded your system with level 2 charger units that deliver more power faster.
Your Driving Habits Matter
If we consider that the U.S. average mileage is around 1,123 miles each month, then using this figure can provide a rough estimate of electricity consumption for most drivers.
Estimating Home Charging Costs for Your Electric Vehicle
If you’re an EV driver in Texas, understanding your home charging costs is going to play a large part of your decision process.
Influence of Regional Energy Rates on Total Charge Cost
For instance, the average energy rate in Texas is about 14.19 ¢/kWh but the national average is 16.11 ¢/kWh, about 12% higher than the Texas average.
Charging an electric car at home typically requires around 11.81 kWh per day, 353.3 kWh per month, and 4,310.65 kWh per year. This energy consumption estimation is based on the average energy usage of an electric vehicle and reflects the amount needed to replenish the distance driven.
Thus if you’re charging predominantly at home with these prices – expect a different total compared against someone residing elsewhere where electrical plan costs are higher.
Benefits and Costs Associated with Overnight Charging at Home
The draw of charging an electric car overnight is clear. Your car is not being used as often and you wake up with a fully charged car ready to go for the day.
Lowered Cost through Overnight Charging Plans
In Texas, several companies offer competitive pricing plans designed specifically for EV owners who prefer night time charging.
Potential Savings from Solar Panel Investment
Beyond traditional electrical power costs, solar panels present another opportunity for savings when you’re charging an EV at home.
A well-placed investment in a residential solar panel system could potentially offset all or part of your vehicle’s energy consumption depending on factors such as local climate conditions and available sunlight hours.
See our guide on Solar Energy Return on Investment for detailed insights into how much homeowners can save over time using renewable sources like sun-power versus conventional grid-based supplies.
Investing in Level 2 Chargers for Faster Home Charging
Time is of the essence for those who drive electric vehicles.
A Look at Average Level 2 Charger Costs
The initial cost of these chargers varies widely. You could spend anywhere from $250-$500 on the unit itself according to data from sites like JD Power.
Potential Long Term Savings with Reduced Charge Times
Are you pondering if this expenditure will be worth it? The answer lies in how frequently you’re charging your EV and how much value you place on convenience.
- Faster charge times mean less waiting around – particularly beneficial if you often find yourself planning an impromptu ev road trip comparable to traditional gas-powered vehicles or have high daily mileage needs.
- Your electricity rates play a significant role too; Texas residents are fortunate enough to enjoy some of the most competitive prices nationwide thanks largely due to efforts made towards developing national electric vehicle infrastructure within state boundaries over recent years courtesy companies like Shell amongst others who’ve worked tirelessly to ensure consumers get the best possible deals available on the market today.
National Electric Vehicle Infrastructure: Public vs Home Charging Stations
If you’re using public stations from the national EV charging network or commercial charger outlets, prices will differ compared to home-charging scenarios.
FAQs in Relation to How Much Does it Cost to Charge an EV at Home
How expensive is charging an electric car at home?
Is it cheaper to charge an electric car at home or an EV station?
Charging an electric car at home is typically cheaper than using a public station. Home chargers are more affordable and often benefit from lower electricity costs, especially if charged during off-peak hours. Save money and enjoy the convenience of charging your electric car from the comfort of your own home.
What’s the average cost to fully charge an electric car?
How much does it cost to charge an electric car at a charging station in the US?
Average costs for public chargers vary but are generally more expensive than home-charging due to convenience factors and infrastructure upkeep expenses—typically ranging from $0.20 – $1 per kWh.
If you’re based in Texas and want to know more about how much it will cost to charge an EV car at home with your local electricity plans, review the rates in your zip code on Home Energy Club.