How to calculate charging prices for electric car?
I'm happy to be saving money on fuel since I've gotten my EV. I do most of my charging at home, but I have no idea how much I'm actually saving. How do I calculate charging prices for my electric car?
Answer provided by
Electric vehicles help you save money because charging can be a lot cheaper than buying gas. You can calculate the charging prices for your electric car by understanding your electricity rate and your vehicle’s power output.
Luckily, the cost of electricity is a lot more stable than the price of gasoline. However, that cost has a lot to do with where you live. For example, the residential average ranges from 9.9 cents per kilowatt-hour in Idaho to 32.3 cents in Hawaii. The current national average is 12.3 cents.
Simply put, what you pay for electricity is determined by your utility company and your plan. It would help if you also considered that electricity costs fluctuate with your consumption and the time of day before you begin your calculations.
To estimate your charging costs at home, you can multiply your EV’s kWh/100 miles figure by the rate of your electricity for the time of day you do most of your charging. That number will let you know the cost of electricity per 100 miles.
Or, go to this nifty online calculator to help you calculate your electric car’s charging costs.
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