How Much Does It Cost to Charge an Electric Car? A Complete Charging Cost Breakdown

6 min readAug 17, 2023

Going electric may save you money at the gas pump, but how much does it cost to keep an EV charged up? Charging costs vary depending on where and how you charge your electric vehicle.

In this guide, we’ll explore the charging costs for today’s EVs including:

Charging at home
Public Level 2 charging
DC fast charging
Charging station networks
Electricity vs gas cost comparisons
Cost saving tips

Understanding real-world EV charging costs helps you budget for affordable electric driving and manage expenses. Let’s crunch the numbers on how much it costs to charge an electric car.

Charging Costs at Home

Charging at home is the most affordable way to power your EV. Residential electricity rates average:

$0.12 — $0.17 per kWh for Level 1 and Level 2 charging
Up to 75% lower cost compared to gas

Based on rated energy consumption for current EVs, home charging costs break down as:

EV ModelRated Wh/miCost per 100 milesNissan Leaf Plus30 kWh/100 mi$3.60 — $5.10Tesla Model 324 kWh/100 mi$2.88 — $4.08Ford Mustang Mach E33 kWh/100 mi$3.96 — $5.61Polestar 228 kWh/100 mi$3.36 — $4.76Assuming home electricity rates of $0.12 to $0.17 per kWh

For most EVs, drivers can expect to pay $3 to $7 to “fill up” at home for roughly 250 miles of driving range. Quite affordable compared to gas!

Calculating Home Charging Cost

To find your EV’s personalized home charging cost per mile, calculate:

Home Electricity Rate x EV Rated Wh/mi ÷ 1000 = Cost per mile

For example, a Mustang Mach E with a 33 kWh/100 mi rating charged at $0.15 per kWh works out to:

$0.15 x 33 Wh/mi ÷ 1000 = $0.005 per mile

At 15 cents per kWh, it costs just $0.005 per mile to charge at home. Amazingly low compared to gas!

Check your EV’s efficiency rating and your residential electricity rate to determine your exact home charging cost per mile.

TOU Rates for Cheaper Charging

Many utilities offer Time-of-Use or EV rates with super low overnight charging rates. Charging during these off-peak hours can save:

Weekday TOU rate: $0.08 — $0.12 per kWh
Weekend TOU rate: $0.03 — $0.08 per kWh

Shifting charging to late evening through early morning can effectively halve your electricity costs.

Consider a TOU plan if offered by your utility. Then program charging during super off-peak hours to maximize savings.

Public Charging Costs

Charging costs are higher at public stations, but still less than gas. Expect to pay:

Level 2 charging: $0.30 — $0.50 per kWh
DC fast charging: $0.30 — $0.40 per kWh

Based on rated energy consumption, charging an EV at public stations costs:

EV Model100 mi Cost”Full Charge” CostNissan Leaf Plus$9 — $15$27 — $45Tesla Model 3$7.20 — $12$18 — $36Ford Mustang Mach E$9.90 — $16.50$33 — $55Polestar 2$8.40 — $14$25 — $42Assuming public charging at $0.30 — $0.50 per kWh

While more expensive than home, public charging for a “full tank” is still far cheaper than gassing up a comparable ICE vehicle. Occasional public charging can work for many drivers.

DC Fast Charging Costs

DC fast charging offers the fastest charging for travel. Pricing is similar to Level 2 public charging:

DC fast charging rate: $0.30 — $0.40 per kWh
Cost per 100 miles: $7.20 — $12 for avg EV
Varies by location and provider

For example, charging 60 kWh at $0.35 per kWh comes to $21. That will provide over 200 miles of range in most EVs — much less than a gas fill-up.

Savings compared to gas make the slightly higher cost of fast charging worthwhile for frequent long distance drivers.

Electricity Cost vs Gasoline Cost

Looking at total cost of operation over years of driving shows dramatic savings for EV drivers:

Electricity: $0.12 per kWh x 0.3 kWh/mi = $0.036 per mile
Gasoline: $4 per gallon / 25 mpg = $0.16 per mile

Driving on electricity costs nearly 4–5x less per mile than the average gasoline car. The fuel savings outweigh the higher upfront vehicle cost over time.

Assuming 15,000 miles of annual driving:

Electricity: 15,000 mi x $0.036/mi = $540/year
Gasoline: 15,000 mi x $0.16/mi = $2400/year

You’ll save about $1860 per year fueling with electricity instead of gas. Include lower maintenance costs, and lifetime savings jump to $2000+ per year.

Saving on EV Charging Costs

Here are some tips to lower your EV charging costs:

Charge during super off-peak hours on a TOU home plan
Minimize use of expensive fast charging when possible
Use free public Level 2 charging when available
Compare electricity plans to find the lowest rate
Monitor charging usage/costs to optimize habits
Limit daily charging to 70–80% instead of 100%

Shifting charging to lower-cost time windows is key. But also mixing home, work, and public charging helps maximize savings.

Other Cost Considerations

A few other factors affect your EV charging costs:

Electricity rates based on your location
Charging equipment efficiency losses
Battery thermal management increases energy use slightly in extreme ambient temperatures
Normal battery capacity loss over time will increase consumption

But for most electric vehicle drivers, electricity costs equate to only about 25% of the per-mile fueling cost for gasoline cars. Home and public charging can readily fit into your budget.

FAQs

Is it cheaper to charge at home vs use fast chargers?

Yes, home charging is 2–4x less expensive than fast charging. Use Level 1 or Level 2 charging at home whenever possible.

How much does it cost to fully charge from empty at home?

From 0% to 100% expect $5-$20 to charge depending on battery size and home electricity rate. Partial charging costs less.

What’s the cheapest way to charge an electric car?

Charging during super off-peak hours on a TOU home plan can cost as little as $0.03–0.08 per kWh in some regions — just pennies per mile!

How much does fast charging cost on a road trip?

Typical fast charging rates of $0.30-$0.40 per kWh mean a 45 kWh charging stop costs around $14–18.

Can you charge an EV for free?

Some public chargers offer free charging. But at home or public stations you must pay electricity costs based on kWh usage and rates.

Affordable EV Charging Fits Your Budget

One of the big perks of electric vehicle ownership is incredibly low electrical “fueling” costs. Proper charging strategies maximize savings.

Home charging an EV costs the equivalent of $1–2 per gallon of gas. Even fast charging is reasonably priced compared to gas pumps today.

Understand your charging options, costs and rate structures. With smart charging practices, going electric can save you thousands on fuel costs yearly. Now that you know how much it costs to charge an electric car, go drive electric guilt-free!

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