The Costs of Charging an Electrical Vehicle at Home?
Owning an electric vehicle (EV) is a great way to help protect the environment and reduce your carbon footprint. It can also dramatically reduce your driving costs compared to constantly having to fill up your gas tank. The only problem is that you’ll need to make sure that you always have access to a charging station to ensure your vehicle is ready to go when needed.
Public charging stations can be a convenient option when you’re out on the road. However, public charging stations tend to charge quite a bit more for electricity. As a result, it is usually a far better option to install an EV charging station at your home. Still, before doing so, you probably want to know exactly how much charging your EV at home will cost each month. With this in mind, here is everything you need to know to calculate your average monthly costs.
Understanding the Math
Figuring out how much it will cost you each month to charge your EV at home isn’t all that difficult, but it does require some math. The first thing you’ll need to figure out is how much you currently pay per kilowatt-hour (kWh) of electricity. The average electricity rate in Arizona is 12 cents per kWh so we’ll use this number for our calculations. However, it is important to note that some electricity providers have different rate schedules, and many companies charge less for electricity during off-peak times such as during the middle of the night. If this is the case for your provider, you can definitely reduce your costs by only charging your vehicle overnight as much as possible.
Studies have shown that the average electric vehicle uses around 34 kilowatt-hours of electricity for every hundred miles driven, or .34 kWh per mile. However, this number can range quite a bit depending on the specific model of EV. As of this writing, the most-efficient EV on the market uses around .24 kWh of electricity per mile, while the least efficient uses nearly .9 kWh per mile. Luckily, this information is available online for almost every EV model to make it easier to determine exactly how much electricity your specific vehicle uses per mile.
Using this number, all you need to do to calculate your average monthly cost is to figure out how many miles you drive per month and then multiply this by how many kWh per mile your vehicle gets. This lets you determine how many kWh of electricity you would use to charge the vehicle over the course of the month. With this number in hand, all that’s left is to multiply the total kWh of electricity you use by how much you pay per kWh.
Let’s say you typically drive 1,000 miles per month and your vehicle gets an average of .34 kWh per mile. In this situation, charging your EV at home would use 340 kilowatt-hours of electricity each month. Based on the Arizona average electricity cost of 12 cents per kWh, your total costs for charging the vehicle at home would be around $40.80. However, it is important to keep in mind that this number is based on the average EV. This means that the number could be anywhere from $28 to over $100 per month depending on exactly how many kilowatt-hours per mile your vehicle gets.
The U.S. Department of Energy estimates that the total cost for charging the average electric vehicle is around $650 per year or just over $54 per month. This number is based on the nationwide average electricity rate and the average American driver traveling for a total of 15,000 miles in a year or 1,250 miles per month. Based on these numbers, it is estimated that driving an EV could save you nearly $3,000 over a five-year period compared to driving the same distance in a gas-powered vehicle.
Home EV Charging Stations
Installing a home EV charging station is definitely something that every electric vehicle owner should consider. Home charging stations allow you to drastically reduce your monthly charging costs since you definitely pay much less for electricity at home than what most public charging stations charge. On average, public charging stations charge anywhere between 30 and 60 cents per kWh, which is two to four times higher than the nationwide average residential electricity rate.
Although there are some public charging stations that are free, these tend to be quite busy and not always the most convenient option. There are also some companies that offer memberships that allow you to receive lower rates for charging your vehicle. Nevertheless, the fact is that being able to charge your vehicle at home will generally always save you money while also being far more convenient.
When it comes to a home EV charging station, you can generally choose between a level 1 and a level 2 station. Level 1 stations are 120-volt chargers. This type of station is the cheapest to purchase and install. In most cases, a level 1 station will cost somewhere between $300 and $500 in total. However, level 1 stations are really only useful if you don’t drive that many miles per day. On average, this type of charging station will allow you to drive between two and five miles for each hour of charging. This means it could take anywhere from eight hours to a full day to fully charge your vehicle.
Level 2 charging stations are 240 volts and tend to be quite a bit more costly, but they have the advantage of charging much more quickly. The average level 2 charging station will be an investment of around $2,000. This might seem like a lot at first, but it is still likely less than you’d end up paying if you had to always use a public charging station. With a level 2 charging station, you should be able to get anywhere from 10 to 40 miles of driving for every hour of charging. Level 2 charging stations are usually the preferred option for most people since they will allow you to fully charge your vehicle overnight.
There are also level 3 charging stations, known as DC fast-charging stations. However, these are generally only for commercial use as, with prices running anywhere from $10,000 to over $40,000, they tend to be far too costly for the average homeowner. In addition, most residential electrical systems cannot handle this type of station.
Expert Electrical Services and More
At Christian Brothers Air Conditioning, Plumbing & Electrical, we have been providing professional services to customers in Phoenix for more than 40 years. Our team of licensed plumbers specializes in home EV charging stations. We also offer a wide range of other electrical services, including repairs, wiring, lighting, smoke detectors, and electrical panel upgrades. Our team also includes professional plumbers who work on water heaters, sump pumps, water and sewer lines, water filtration systems, and much more. If you are having any issues with your home’s heating or cooling systems, our certified HVAC experts can assist with any repairs, maintenance, or installation services you may need. For more information on EV charging stations or if you have any other questions, give us a call today!