How much does it Cost to Charge an Electric Vehicle?

Electric Vehicles (EV) are becoming the go-to vehicles for a number of characteristics it exhibits over the gasoline/petrol engines. The most important factor that may attract you like most other consumers is the low operating cost of the EV. Besides this, the smooth drives and its ability to generate instant torque will enhance your overall driving experience.

If you are taking a plunge to the Electric vehicle the first question you are most likely to ask yourself is, how much does it cost to charge an electric vehicle? And secondly how is that cost as compared to operating the gasoline engine. While back of envelope calculation may give a rough estimate that in comparison to gasoline its dirt cheap. However, let’s see the exact costing.

Before you start comparing the costing, be watchful of the comparison. What I mean to say is apples should always be compared to apples. As gasoline engine efficiency is measured in Miles per gallon (MPG) the efficiency of the electric vehicle is measured in Kilowatt per hour kWh. 1 kWh is the power used to run a 1000 watt motor for 1 hour. To draw a comparison let’s take what it cost to cover 100 miles on each platform.

Vehicles have different operating efficiencies and the same holds true for EV. Some EV’s are more efficient and exhibit 28kWh/ 100 miles while others may exhibit a lower efficiency of 36kWh/100 miles. Hence operating costs will be different models to the model of EV. Considering the average cost of 12 cents per kWh in the US, an EV with 30kWh/100miles efficiency will cost $3.6 for 100 miles trip. This is roughly comparable to an Air Conditioner running for about 6 hours. On a gasoline variant for 100 miles require roughly 4 gallons of fuel, taking an average cost of $2.64 per gallon will mean trip cost of $10.6.

Now you know, how much does it cost to charge an electric vehicle?  But this is only a fraction of the entire cost, as this only covers the operating cost. Also the actual cost can be much lower in case you use public charging stations that are free. Yes, you heard it right free charging stations are set up by the state to push the EV and increase their adoption by masses.

There are other cost associated in charging an EV. Like most owners, you would like to charge your EV at home, then you need to consider the cost of electric vehicle supply equipment (EVSE), and its installation. The EVSE can be powered by the regular power supply line or a solar power system.

You may get a standard variant of EVSE in the range of $300 to $1000 a level 2 charging system best for overnight charging. The cost of installation also depends on your location and cost factors such as labor rates and permit costs by the government. On average the estimated cost is around $1000

In case you are considering using a solar power be cautious of the equipment and installation. 1 kWh solar station can generate roughly about 4kWh per day. The cost of setting this up can go up to $7000 excluding the hold-up batteries. Adding this to the system double the cost to around $1400

Conclusion

Finally, how much does it cost to charge an electric vehicle? Is dependent on factors such as the efficiency of the EV, your preference of use of free public charging station and its frequency. And the setup cost of the home charging station, be it on the regular power supply or solar-powered. But the best part for you in case you keep your EV for a few years you would definitely save 60-70% of what it cost to operate a gasoline vehicle.