To give you a ballpark idea of charging costs, we looked at average electricity prices and charging fees across the world and calculated how much it would cost to fully charge an EV with an average size battery of 68 kWh at home, publicly, and if using a fast charging station. Contact online >>
To give you a ballpark idea of charging costs, we looked at average electricity prices and charging fees across the world and calculated how much it would cost to fully charge an EV with an average size battery of 68 kWh at home, publicly, and if using a fast charging station.
How much it costs to charge an electric vehicle (EV) exactly depends on a range of factors.
This article dives into the details of different types of EV charging, their related costs (and difference compared to gasoline or diesel).
At the bottom of this article, we''ve created an overview of estimated EV charging costs for 4 popular electric cars in the US, EU, and UK.➡️ Click here to jump down to our detailed average charging cost overview directly.
The exponentially growing global share of EVs is proof that electric mobility is here to stay – a record 14 percent of new cars sold in 2022 were electric, having more than tripled since 2020. There is no doubt that more and more people today are considering buying an EV than ever before. A crucial question many have before they invest in an EV is how much it costs to charge.
There are many different factors that contribute to the cost of EV charging. For instance, one of the biggest cost differentiators is whether you''re charging at home, at a public charging station, or at a fast charging station.
How much it costs to fill a gasoline vehicle depends on the price of gas and the size of the tank. Similarly, charging an EV depends on the price of electricity and the size of the battery.
An EV''s battery is measured in kilowatt-hours (kWh), which can be seen as the electric equivalent of a unit of fuel (1 liter or 1 gallon) and usually ranges from 40 kWh on the small side to 100 kWh for larger vehicles. The smaller the battery, the shorter the range, but the faster it is to reach a full state of charge (SoC).
Find out what the battery capacity is of your electric vehicle.
How much both gas and electric cars cost to drive depends on the vehicle''s fuel economy. Just like gasoline cars, if your vehicle uses up more fuel, it will cost more. And as the saying goes, "what gets measured, gets managed."
So, how do you measure the fuel economy of electric vehicles?
Traditionally, fuel economy for gas cars is measured in miles-per-gallon or liters-per-100 kilometers and split depending on whether you''re driving in the city or on highways. For EVs, there are similar equivalents for both miles and kilometers:
On average, an EV''s energy consumption is 0.19 kilowatt-hour (kWh) per kilometer (or 0.32 kWh per mile).
The three main ways to charge a vehicle are home charging, public charging, and fast or DC charging. With so many possible ways to charge, it''s not surprising that drivers usually opt for a mix of available options.
Data from the US government suggests that a further makeup will likely reflect 81 percent residential, 14 percent workplace/public level 2 charging, and 5 percent fast charging.
As the electric mobility transition accelerates and more public and fast charging stations become available, more people are comparing gas cars to electric cars and questioning which one is more beneficial and cost-efficient.
The ability to charge an EV at home is undoubtedly one of the most attractive reasons for those considering purchasing one. You can simply come home from work, plug your vehicle in, and wake up the next morning with a full battery. Besides the convenience factor, home charging is also the most economical way to charge your EV.
With a home charging station, you will typically pay the lowest price per kWh, as you''re taking energy directly from the grid. Because there is no middleman taking a cut for the sale of your electricity, you''ll simply pay the price you pay for electricity at your home.
The first number you need to know when calculating how much it costs to charge at home is how much you pay per kWh from your electricity provider.
In the US, the average price per kWh is around $0.15, while in the EU, that number is comparatively higher at around €0.28. However, the price of electricity fluctuates significantly from state to state or province to province, so it''s best to check your electricity bill to get the exact number. For example, the cost per kWh jumps to around €0.35 on average in Germany and is as high as $0.27 in California.
For a rough calculation of how much it costs to charge at your home, take a look at the average electricity an electric car uses here.
Additionally, electricity costs change at certain times of the day. During off-peak hours, fewer people use electricity, and many energy providers offer cheaper rates during this time. EV drivers can take off-peak hours to their advantage and reduce their overall charging costs.
Electricity costs during off-peak hours, typically from 10 p.m. to 7 a.m., are usually the lowest. According to one study, if you charge your vehicle at home during off-peak times, you can reduce your average charging cost by 24 percent.
These numbers depend on the country you live in, your car''s charging capacity, the fees you pay to your energy supplier, and at which time you charge.
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