Calculate electric vehicle charging costs based on battery capacity, electricity rates, and charging level
Electric vehicle charging costs vary significantly based on your electricity rate, charging level, and battery capacity. Home charging is typically much cheaper than gasoline, with most EV owners paying between $30-$60 per month for electricity. Understanding these costs helps you budget accurately and maximize savings from your electric vehicle.
The cost to fully charge an EV depends on your battery size and local electricity rates. For example, a 75 kWh battery at $0.13/kWh costs about $9.75 for a full charge, providing 250-300 miles of range. This translates to roughly 3-4 cents per mile, compared to 12-15 cents per mile for gasoline vehicles.
| Charging Level | Power | Time (0-80%) | Best For |
|---|---|---|---|
| Level 1 (120V) | 1.4 kW | 40-50 hours | Emergency charging, overnight |
| Level 2 (240V) | 7.2 kW | 8-12 hours | Home charging, workplace |
| DC Fast Charging | 50-350 kW | 20-40 minutes | Road trips, quick charging |
Residential electricity rates vary by location, ranging from $0.08/kWh in some states to over $0.30/kWh in others. Many utilities offer time-of-use rates with cheaper overnight charging, reducing costs by 30-50%. Some areas also provide special EV charging rates or off-peak discounts.
Not all electricity from the grid makes it into your battery. Level 1 charging is about 85% efficient, Level 2 is 90% efficient, and DC fast charging reaches 92% efficiency. This means you pay for slightly more electricity than actually charges your battery due to conversion losses.
Larger batteries cost more to charge but provide greater range. A 40 kWh battery might cost $5 to charge fully, while a 100 kWh battery costs $13. However, larger batteries often have better efficiency and longer range, potentially reducing cost per mile.
Public charging stations typically cost more than home charging, ranging from $0.20-$0.60/kWh or $0.10-$0.30 per minute. DC fast charging is the most expensive but provides rapid charging for road trips. Many networks offer subscription plans that reduce per-session costs.
With a 60 kWh battery and 3.5 miles/kWh efficiency, you need about 11.4 kWh daily. At $0.13/kWh with Level 2 home charging, this costs $1.48 per day or $44.40 per month. Compared to a gas car getting 30 MPG at $3.50/gallon ($140/month), you save $95.60 monthly.
Driving 800 miles monthly requires about 229 kWh. At $0.13/kWh, your monthly charging cost is $29.77. A comparable gas vehicle would cost about $93 monthly, saving you $63. With off-peak rates at $0.08/kWh, costs drop to just $18.32 monthly.
A 500-mile trip requires about 143 kWh. Using DC fast charging at $0.40/kWh costs $57.20 for the trip, or $0.11 per mile. The same trip in a gas car at 30 MPG and $3.50/gallon costs $58.33. While fast charging is more expensive, it's still competitive with gasoline for long trips.