How Much Does It Cost To Charge An Electric Car?

Electric vehicles are taking the automotive world by storm, bringing up the important question: How does the cost of charging an electric vehicle compare to fueling up a traditional combustion engine? It turns out, there are a lot of factors that can affect the final cost including the type of car being charged, the location of the charging, and the speed of charging. Electric vehicles can have shocking ranges, and on average, cost less to fuel than traditional vehicles. Factoring in potential government subsidies, owning electric vehicles can save households thousands of dollars per year.

One of the main deterrents for people considering purchasing an electric car is the hassle of charging. Drivers can easily find a gasoline or diesel fuel stop while traveling, but finding a charging station in a pinch can be tricky. Automotive companies are working toward improving charging speeds, so that charging an electric vehicle can be as fast as fueling up a combustion engine. However, with the increased charging speed comes increased cost for consumers, which complicates the value proposition of electric vehicles.

If cost is the primary concern in charging an electric vehicle, the cheapest way to fuel up is at home. According to the U.S. Department of Energy, the average rate for electricity in the United States is 13 cents per kilowatt-hour of energy. The kilowatt-hour standard is the same used to rate electric vehicle batteries, meaning that it’s simple to calculate the average charging cost. With most cars having a kilowatt-hour rating between 50-100, charging at home can cost under 10 dollars per charge. On the higher end, costs can reach 15 dollars per charge. It all depends on the energy rate in the customer’s location, the type of vehicle, and its capacity. Generally speaking, charging at home is slower, but cheaper, than fueling up a traditional car at a gas station.

Superchargers Are More Expensive And More Efficient

While away from home, Tesla’s Supercharger network is the most expansive charging network in North America. It includes all Tesla models, and the company has touted plans to expand the network to include electric vehicles from other manufacturers in the future. However, use of the network costs more than the rate of electricity at home, according to Tesla’s website. The average Supercharging rate is 26 cents per kilowatt-hour, but it’s one of few options when charging on the go. That means that if a customer wants to fully charge their vehicle at a Supercharger, they can expect to pay between 13 and 26 dollars, depending on the range of their vehicle.

That average cost is significantly less than filling up a gasoline or Diesel engine, even when using the more expensive Supercharger. When charging at home, the cost is downright shocking to customers that are accustomed to paying nearly 100 dollars for certain types of cars and trucks. There’s also a few other ways to impact the final cost. Many governments, including the U.S. Department of Energy, offer tax credits for electric vehicle owners that nearly nullify the charging cost. Furthermore, at-home charging paired with solar panels can also negate the cost of charging, and even result in a profit in some cases. In many cases, charging an electric vehicle will cost significant less than filling up a traditional car with gas.

Source: U.S. Department of Energy, Tesla

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