September 26, 2021

Here’s how to calculate an electric vehicle’s charging costs | Automotive

Here's how to calculate an electric vehicle’s charging costs | Automotive

Here’s an example: Let’s say you own a 2021 Tesla Model 3 Standard Range Plus — it gets an EPA-estimated 24 kWh/100 miles — and your utility’s pricing plan starts at 18 cents per kWh and rises to a maximum of 37 cents per kWh. As such, it would cost as little as $8.64 to recharge at home after driving 200 miles or potentially $17.76 if you recharged during your utility’s peak rates.

EVs vary in efficiency too. Let’s say you sold your Model 3 in the above example and replaced it with a 2021 Audi e-tron. The Audi uses an estimated 43 kWh/100 miles. Now you’d be paying $15.48-$31.82 after driving 200 miles, using the same rates above.

Cost of a home charging setup

Besides understanding what it will cost to power an EV, it’s also important to know the cost of the charging equipment itself. Technically, the vehicle’s “charger” is actually built into the car.

That box with the colored lights, long cord and connector plug that you hang on the wall of your garage or carport is properly known as the “electric vehicle supply equipment” or EVSE. But it’s OK if you call it a car home charging station or an EV charger — almost everyone does.

Most vehicle automakers have a preferred charger provider, but there are dozens of companies selling EVSEs. A search online will help you find the features, power output and pricing that best suit your needs. Just search for “EVSE” or “EV home chargers.” Prices for a good 240-volt Level 2 home system can range from just under $200 to more than $1,000 before installation. Some of these systems can report exactly how much electricity you use to charge your vehicle.

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