November 23, 2022 . 4 min read

How Much Does It Cost To Charge An Electric Car?

If you are one among those prospective Electric Car Owners the question of How much it costs to charge an electric car might haunt you every now and then. You might probably think is the charging cost getting overboard? Then, don’t worry in this article we will cover everything you need to know about Electric Car Charging Costs and how much it costs to charge at home and at a charging unit on a road trip.

Why EVs are Efficient?

Compared to regular cars Electric Vehicles are known for their good performance and no fuel emissions. EV Cars can generate electricity without burning fuels. EVs are 70% efficient compared to other counterparts. When a brake is applied the energy is restored and given back to the battery which in turn helps in providing quick acceleration and operates much more efficiently.

Electric Car Charging Cost Formula

You might need some amount to charge your electric car. The cost involved can vary on basis of the network you have chosen and where you are charging. To understand the common math calculations involved in charging your electric car cost you can make use of the following formula i.e.

Cost to Charge = (CR / RPK) x CPK

Where CR = Range of the Car

RPK = Range Per kWh

CPK = Cost Per kWH

Use this simple funda and determine how much its costs to charge your Electric Car.

Electric Car Charging At Home

Most of Electric Car Owners charge in their home using Level 1 or Level 2 Charging Equipment. You can install the charging equipment either in garages or outdoors and both are safe to do so. The cost involved in Electric Car Charging depends on multiple factors like peak time of the day, the area you live in, etc. Charging during the night times you can avail low costs. To determine how much cost is needed to charge your electric cars follow the simple steps

Have a look at your electric bills to evaluate the cost per kWh.
Find out how many miles your Electric Vehicle runs on average per kWh.
Also, find the range of electric vehicles in miles
Now, employ all these values into the formula Cost to Charge = (CR / RPK) x CPK.

Costs for Different Electric Car Charging Networks

Monthly Charging Costs differ from the place where you are charging and in the network, you are charging. Below is the list of charging networks from least to most expensive. Depending on the requirement you can charge your Electric Vehicle. They are as follows

Free: It is next to impossible to get gasoline for free of cost. Most companies use it as a strategy to attract customers when in reality the picture is entirely different. The Charging Rate is extremely low and is the same 120 volts that you get in ordinary home outlets.
Off Peak At Home: Certain utilities charge very less amount when the demand is too low. You can do most of the charging at home for less price.
On Peak At Home: Price during On-Peak At Home is less compared to outer charging networks. So, you can better rely on the flat rate electricity charges.
Public Charging Stations: In these stations, you can charge your EV at a faster rate comparatively as you can get 240 volts. You can go for monthly based subscriptions to avail low charging rates if you opt for public charging stations.
High-Speed Public Charging Stations: You can go for these stations when time matters to you the most apart from cost. One can access high-speed charging points where you can get around 50KW to 250 KW. Cross-check before charging as not all-electric vehicles will accept this power.

How Much Does It Cost To Charge an Electric Car Vs Gas?

Charging an Electric Car is way much cheaper than fueling it with Gasoline. To be precise the Cost of Charging the Electric Car is half the price of fueling it up. No matter whether you charge it even at Public Charging Stations the price is still cheaper and you can travel the same distance at half the price. If you charge it at home you can save a huge amount in charging costs.