What Does it Cost to Charge an EV?
Updated: Mar 23, 2022
As energy companies worldwide endeavor to keep pace with customers' increasing demand for electric vehicle ("EV") and their charging stations, you might find yourself asking: What does it cost to charge an EV?
In order to answer this question, there a few calculations that need to be completed. Here, Pacific Light & Energy has provided you with a quick break down so that you'll understand what budget is required to facilitate your charging costs on a month-to-month basis.
To start, we need to understand what the average user spends each hour to charge their EV. This is done by calculating the total cost of your electricity bill divided by the total number of kWh. Once this is done, you take the number of kWh your EV runs on followed by multiplying that amount by what you typically pay for electricity in an hour.
For instance, in 2021 the average home in the United States was charged about $0.14/kWh. With the knowledge that many modern EVs hold up to 100 kWh, this means that it would cost the customer only $14 to fully charge their EVs in the comfort of their own home.
As the average cost of gas continues to climb, the potential savings from switching to an EV over a traditional gas powered vehicle continue to grow and grow. In fact, the cost of filling up the tank of a traditional sedan and driving the same distance as an EV can end up costing you twice as much than it would to charge your EV at a charging station.
Want to know more about how switching to an EV can save you money? Interested in setting up an EV charging station at your home or workplace? Get in touch with Pacific Light & Energy and allow us to answer any questions you may have and see if saving money and energy with EVs is the right choice for you!