How much does it cost to charge an electric car: these calculations will surprise you

Few people know how much it costs to charge an electric car. People don't realize how cheap it is to charge an electric car at home compared to gasoline. At long distances everything is more difficult, reports CarDriver.

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Calculating the cost of charging an electric vehicle at home and on the road can be difficult. For four out of five new car buyers who can charge their car at home, the cost is almost always cheaper than the cost of gas for a similar vehicle.

It's more difficult for apartment residents because they may pay different rates to companies that operate charging stations in shared parking lots. Prices for DC fast charging, which a driver is most likely to want to use when traveling, are often roughly in line with gasoline prices.

Due to these factors, the price of a full charge can vary significantly. Charging a Tesla Model Y, currently the best-selling electric car, can cost between $9 and $40, depending on whether you charge at home or with a much more expensive Level 3 fast charger.

Calculating real value is difficult

Here's a question to think about: Do you know how much you pay per kilowatt-hour of electricity at home? Few will be able to answer this question without doing some research.

The average cost in the US is now about 16 cents per kilowatt-hour. At 1 kWh, most electric vehicles can travel two to three miles. Electric vehicle drivers can often benefit from reduced rates from their electric utility companies—for example, from 23 p.m. to 00 a.m.

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When it comes to DC fast charging for travel, pricing is very complex. It varies by network, may be lower at night, and may or may not require a session fee for each charging connection. Most networks also have membership plans with a monthly fee, but with lower rates per kWh.

Cost for 160 km

To simplify the calculations and allow direct comparison of electric cars with similar gasoline cars, experts looked at the cost of driving 160 km in each electric car. Charging at home for a distance of 160 km has always been much cheaper than paying for gas in a similar car - only a quarter of the price.

On the other hand, DC fast charging typically costs more than gasoline.

To look at the best and worst cases, the experts selected three electric vehicles that span the spectrum from small car to powerful, from relatively efficient to huge and energy-hungry. Experts looked at the highest and lowest charging rates, which can vary by almost four times in different states. Finally, they calculated the cost of DC fast charging while traveling.

Best Option: 2023 Chevrolet Bolt EV

Costs

In Louisiana, the Bolt EV costs $160 for 2,81 miles of home charging, and $160 for 11,82 miles of EVgo fast charging. 160 miles in a small SUV that gets 53 miles per gallon will cost about $10.

The Chevy Bolt EV has sold more than 100 vehicles over its lifespan—and is a more modern vehicle than the aging Nissan Leaf it competes with. In addition, this is the only example with a starting price below $000.

This is the best option considering how much it costs to charge a relatively efficient electric vehicle in a state with very low electricity rates in Louisiana.

Houses

In the Bolt's case, 160 km is 38,6 percent of the rated range of 416 km. This percentage of a 63 kWh battery pack is 25,5 kWh. In Louisiana, that 25,5 kWh costs $2,81 for 160 miles of power when charging at home. Compare that to a gasoline car that gets 53 mpg, which would require three gallons of gasoline at $3,36 per gallon in Louisiana. That's about $10, meaning that 160 miles in a fairly efficient comparable gasoline car is almost four times more expensive than 160 miles in a Bolt EV.

On the road

During real-life testing on a highway at 120 mph, the Bolt traveled 354 km.

Carrying out the same calculations, you will need 30,1 kWh to cover 160 km. GM has partnered with charging network EVgo, which charges a per-session fee of $1 plus $0,36 per kWh under its Pay as You Go plan. This amount of electricity will cost the driver $11,82 - or almost 20 percent more than gasoline.

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2023 Tesla Model Y Long Range

Costs

For Tesla Model Y, 160 km of home charging costs $3,82, 160 km of Supercharging fast charging costs from $10 to $19. 160 miles in a compact SUV that gets 45 miles per gallon will cost about $13,70.

The Model Y is currently the best-selling electric vehicle in North America. About half of the electric vehicles on the road in the United States are Teslas, and the company's compact car occupies a sweet spot in the light-duty SUV segment that many families have moved into.

This is an average case when looking at how much it costs to recharge the most popular electric vehicle in the US, given the average US electricity rate of $0,16 per kWh. The model is designed for a range of 530 km with mixed use on local and highway roads.

Houses

Using the methodology, that's 30,3 percent of the required 75 kWh battery, or 23,9 kWh. With a home electricity rate of $0,16, that's $3,82. Compare that to, say, a 45 mpg compact crossover that gets 160 miles at an average US gas price of $3,80. Requires 3,6 gallons and costs $13,70. Again, an electric car wins by almost 4 to 1 when charging at home.

On the road

Traveling on the highway is a different story. The Tesla Model Y Long Range traveled only 354 km. So we need 35,8 kWh to cover 160 km. On the Tesla Supercharger network, charging costs range from $0,25 to $0,50 per kilowatt-hour, depending on how much power the station can deliver, the time of day (cheaper at night) and your location (often more expensive in California).

In the best case, charging Y will cost $9,95 to travel 160 km, in the worst case, twice as much.

2024 GMC Hummer EV Pickup

Costs

For the GMC Hummer EV in Hawaii, a 160-mile home charge costs $27,48, while fast charging costs $37,11 or more. Driving 160 miles in a gasoline Hummer at 16 miles per gallon costs $47,90.

The electric Hummer has already accomplished its mission: to make electric cars cool. Its off-road capabilities, four-wheel steering and stunning acceleration (to 96 mph in 3,3 seconds) make it a powerful car. Its giant battery pack is needed not only to provide that acceleration, but also to overcome the aerodynamic drag of a car the size of a small municipal building.

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This is the most inefficient electric car. Experts calculated the cost of charging such a car in Hawaii, the state with the highest electricity rates in the country, at $0,42 per kilowatt-hour. Gasoline is also expensive in Hawaii, recently averaging almost $5 per gallon (in California, $5,35). The Hummer EV has a truly massive battery with a total usable capacity of 205,0 kWh.

Houses

For 160 km, 30,4 percent of the battery capacity, or 65,4 kWh, will be required. In Hawaii it will cost $27,48. But how much gas mileage will a 4,5-ton Hummer-type SUV get? Approximately 16 km per gallon. Its gas-powered predecessor, the Hummer H1, returned 11 to 14 mpg at a relatively light 3,75 tons. At Hawaii gas prices, it would cost $47,90, nearly double the cost of charging at home.

On the road

The Hummer EV achieved an impressive 788 km on the highway at 120 km/h, which is much better than expected. To travel 160 miles on the highway would require about 34 percent of the 205,0 kWh battery, or 74,2 kWh.

There are several DC fast charging stations in Hawaii (although the statewide highway speed limit is also 95 mph). Rates range from $0,49 to $0,66 per kWh, depending on the time of day and location. To simplify the math, that's roughly 50 cents per kWh, so 160 miles on the highway would cost $37,11. This means you can spend over $100 to fill up a Hummer EV.

On gasoline, even with the same fuel economy of 16 mpg, 160 mpg highway will again cost $47,90. In this case, even expensive DC fast charging turned out to be slightly cheaper in an extremely inefficient car driven in a state where gasoline is very expensive.

DC fast charging will be cheaper than the gas equivalent of a Hummer.

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