How Much Does It Cost to Charge an EV?
Calculate home and public charging costs. Compare to gas costs for the same miles. See annual savings.
Home vs Public Charging Costs
Home charging (Level 2, overnight): $0.10-0.20/kWh in most areas, costing $3-6 for a full charge (300 miles). This is equivalent to $0.01-0.04 per mile — dramatically cheaper than gas at $0.10-0.15/mile. DC fast charging (Tesla Supercharger, Electrify America): $0.25-0.50/kWh, costing $15-30 for a full charge. At fast-charging prices, the cost advantage over gas narrows significantly.
Annual Savings: EV vs Gas
At 12,000 miles/year with mostly home charging: EV costs approximately $500-700/year in electricity vs $1,400-2,000 in gas for a 30 MPG car. Annual fuel savings: $700-1,300. Over 10 years of ownership, fuel savings alone total $7,000-13,000 — often enough to offset the higher EV purchase price. Combined with lower maintenance costs, the total cost of ownership for EVs is increasingly competitive with gas vehicles.
Installing a Level 2 home charger costs $500-2,000 (equipment + installation) and qualifies for a 30% federal tax credit (up to $1,000). It charges 25-30 miles of range per hour vs 3-5 miles on a standard wall outlet. Most EV owners consider it the single best EV-related investment.
