Many people ask the single biggest question about electric cars: What will I spend to charge the vehicle?
If you’re looking at an electric car vs. a gas car, doing some upfront research on charging compared with gas costs will help you make an informed decision.
To answer the question of cost, we enlisted the help of John Voelcker, a longtime automotive journalist and industry analyst who specializes in electric vehicles. He’s heard every argument made for (and against) electric vehicle ownership, including recharging costs compared to traditional refueling.
Don’t sweat it. The math involved is pretty simple. For the most accurate estimate, it helps if you have a recent electric bill for reference. You’ll want to calculate the amount you pay for electricity in a given month. Then we’ll provide examples so you can determine how much you spend on each kilowatt-hour (kWh) of electricity used.
“For home charging, find your electric bill, then divide the [number] of kilowatt-hours you used into the bottom-line dollar total. That’ll give you the price you paid per kWh,” Voelcker explains.
According to the U.S. Energy Information Administration, the average U.S. household pays about 15 cents per kWh.
“A conservative rule of thumb is that an electric car gets 3 to 4 miles per kWh,” Voelcker says. “So divide the total miles you drive each month by 3 to get the kWh you would use monthly. Multiply that number by your cost per kWh. The dollar amount you get will most likely be lower than what you pay each month to buy gasoline.”
To put this into perspective, let’s give an example. Let’s say you drive about 1,183 miles per month (Americans drive an average of about 14,200 miles annually). For an EV, you will use about 394 kWh in that timeframe. Using the U.S. household average from June 2022 of about 15 cents per kWh, it would cost about $59 per month to charge an electric car.
According to AAA, the average price of gas hovers at $3.88 per gallon as of this writing. So, filling up a 12-gallon gas tank currently costs about $47. Things get a little tricky because, as we all know, cars and trucks use vastly different amounts of fuel.
Let’s say you’re driving an economy car that brings a combined average of 30 miles per gallon during a mix of city and highway driving. Using that same 12-gallon tank as a reference point, you’ll have 360 miles of driving range for each fill-up. If you’re driving the same 1,183 miles per month, you’ll need to refuel just over three times each month and spend about $182 ($47 x 3.88).
Again, this is only an estimate since fuel prices and mileage vary. But considering few cars and SUVs come close to delivering a 30 mpg combined average, our fairly conservative number-crunching in this scenario makes it clear that recharging will cost less than refueling a car. The financial gap narrows with a more fuel-efficient vehicle, but it remains.
Electricity rates are subject to many factors, including the region where you live, the time of year, and even the time of day when peak charges apply. For the most part, electricity usage and costs are at their lowest late at night. That’s good news for anyone considering an EV, according to Voelcker.
“While shoppers worry about access to public charging stations, they need to know that as much as 90% of electric car charging is done overnight at home,” Voelcker said. “The cheapest way to charge your electric car is almost always at home, overnight. Some utilities have special low rates for the overnight period when their demand is lightest.”
Where you live directly impacts your electric bill. People living in Maine pay nearly double for each kWh of energy used than in states like Wyoming or Nebraska.
When talking about public Level 2 charging and Level 3 fast-charging systems, the prices are harder to narrow when compared to standard at-home costs. That’s because charging networks vary in price, not to mention availability around the country.
You can always opt to install a Level 2 charger in your garage. The cost isn’t cheap. About $2,000 for parts and installation is a reasonable ballpark figure. Moving up to Level 2 means you’ll cut your charging time sometimes by half. And it can potentially add value to your home.
“Every electric car (Tesla included) can use public Level 2 stations,” says Voelcker, “but Nissan Leafs use one fast-charging standard (called CHAdeMO) while every other EV uses a different fast-charging standard called CCS.”
Many states, local municipalities, and utility companies offer rebates and incentives for electric car owners to install home chargers. Those help lower costs further.
Voelcker explains the difference sounds more complex than it is. “The vast majority of fast-charging locations have both kinds, with a different cable on each side of the station. It’s like the same gas pump could dispense both regular gasoline and diesel fuel from different hoses.”
As for the price, a 240-volt (Level 2) recharge could cost you anywhere from zero dollars to a fixed hourly rate. Charging networks often provide membership programs to minimize your recharge cost. That’s especially useful if you can’t regularly charge your vehicle at home.
The EVgo network charges rates by state, and costs vary for Level 2 charging. On its website, the pay-as-you-go approach costs 30 cents per minute in Georgia for its rates as of this writing. However, if you’re an EVgo Plus member, the rate drops to 24 cents per minute. Other popular charging apps include ChargePoint, Electrify America, and PlugShare.
Unlike a typical 240-volt Level 2 home charger system, you will find Level 3 chargers in commercial settings because they’re prohibitively expensive for a private individual to get installed at home.
Tesla uses its own dedicated Supercharger network with more than 35,000 across the globe. But the rates can vary widely depending on region, timing, the Tesla model you’re charging, and the tier you choose for your recharge speeds. Tesla offers four charging tiers. One important caveat: Tesla Superchargers only work for Tesla vehicles. That is until the network opens up to other EVs in the United States. The non-Tesla Supercharger pilot began in November 2021 in Europe.
Voelcker stresses that home charging is the best option for anyone considering an electric car. Yet, equally important is knowing where to find EV perks close to home.
“Some workplaces offer charging for employees’ cars … But electric-car owners quickly learn which public stations near them are free, which charge for charging, and how much they cost,” he said.
For example, a bustling parking lot in a crowded city center might lure EV owners with the promise of free electric car charging. But the resultant fee for parking there could easily zoom past what you’d have paid to fill up even the thirstiest gas-powered car or truck. Still, drivers will find the network of chargers growing with plenty of free options, including at malls, hotels, grocery stores, and more.
Voelcker’s final words of advice to EV owners: “Always ask before plugging in!”