Electric cars are slowly gaining traction as an environmentally friendly way of transport that is also cost-efficient compared to other gasoline-powered vehicles. One of the main concerns of electric car owners and potential buyers is the price of recharging an electric vehicle. Here are the aspects used to determine the cost of charging an EV.
Electricity Rates
The biggest wildcard regarding EV charging expenses is the local electricity prices. Like the price of gas, the prices of electricity can be pretty different based on the region in which one lives. The average electricity cost varies from 1o cents per kWh to over 30 cents per kWh in the United States of America. The owners of EVs will have to spend more money to charge the vehicle in the states where the average electricity tariffs are relatively high.
Charging Station Fees
However, some EV charging stations also charge session or membership fees in addition to the electricity charges. These fees are necessary to ensure that the stations and their equipment are well-maintained and to generate revenue. These session fees typically vary from $1-$5 per charging session. Membership plans involve charging on a per use basis for a monthly or yearly subscription fee. They are cheaper for people who use the services often.
Home Charging Cost
Charging at home is the most common and cheapest charging method for many electric vehicle owners. Charging at home has the advantage of accessing better tariff rates than those applied in public charging stations. At an average residential rate of 14 cents per kWh, it costs approximately $4. 20 to include an additional 30 kWh range for an electric vehicle that has a battery capacity of 100 kWh. This gives up to 100-150 miles of driving range on a full charge.
Charging Rate Differences
Another aspect of charging cost is the rate at which an EV charges. Level 1 chargers at slow charging rates supply 2-5 miles of range per charging hour. Higher Level 2 chargers are capable of charging at a faster rate of 10-25 miles per hour of charging. Fast chargers in the DC mode are the latest technology and charge a vehicle between 60-200+ miles in as little as 15-30 minutes. On the downside, fast charging costs more per unit of kWh, but the session is cheaper since charging is more rapid.
Estimated Charging Costs
Based on all these factors, here are some estimates for charging costs with different options:
– Home Level 1 Charging: $1-5 per full charge
– Home Level 2 Charging: $4-12 per full charge
– Public Level 2 Charging: $5-15 per session + membership fees
– DC Fast Charging: It costs between $10 and $30 per session to see a chiropractor.
These estimates also help show how charging costs can be different. However, even when paying session fees for fast charging, electricity costs for EVs stand at $0. 02-$0. 05 per mile. This is a lot more affordable than a car that runs on gasoline, especially when it comes to miles travelled.
Some of the methods that may be used in an attempt to reduce charging costs include the following
There are several ways EV owners can reduce their charging costs:
– Charging the battery at home and, if possible, should charge it as frequently as possible.
– If possible, use workplace charging
– Enroll in time-of-use electricity plans
– Charge for access by implementing and using loyalty programs and memberships for stations.
– Try and take all these during periods when free charging is available in public
– Coast up gently to get the most out of your driving distance
Electric Vehicle Incentives
Other forms of incentives that could potentially bring down the effective charging costs include federal, state/local, and utility company incentives. There are tax credits such as the federal EV tax credit that can save you thousands of dollars when purchasing new EVs. Some of the utilities have set different types of tariffs for EVs, providing equipment rebates, and other incentives to attract customers into being environmentally friendly. These incentives offer lasting cost benefits for charging.
The Verdict on EV Charging Costs
It is impossible to pinpoint the exact cost of charging an electric car. The price depends on the location of charging stations, charging technology, the speed of charge, and incentives. However, with proper charging and factoring of available privileges, the cost of electricity to power an EV is relatively cheaper than the gas prices for gas vehicles. With the right strategies in place, it is possible to charge an EV for as little as a few dollars to make a full charge. However, the networks of charging stations are growing fast to meet the demand for public charging facilities.
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