There are a lot of different reasons why people want to switch to electric cars. Some people do so because they want to help the environment. Some people switch because they are new, exciting, and generally pretty exciting to drive. The most common reason why people switch over is so that they can save money on gas.
If you’ve considered making the switch to electric cars, you may have wondered how much it actually costs to charge your car at home. So, what does it cost to charge an electric car at home? The average cost to charge an electric car at home is around $25 a month though a lot of that depends on the cost of electricity where you live. The cost, of course, increases if you drive more than the average person. Overall, this is still much less than what you would spend monthly on gas.
In the US, the average household spends about $250 each month on gas. That would be to cover fuel for all of the vehicles in the household. As gas prices continue to climb, more and more people are looking for ways to save money on gas. Switching to an electric car is very enticing for a lot of people who are feeling the same way. That, coupled with lots of state and government incentives are leading a lot of people to make the switch.
In General, How Much Would It Cost To Charge At Home?
So, how much does it actually cost to charge your car at home? This will depend on the cost of electricity where you live. Currently, the national average is about $0.12 per kWh. To calculate the cost to charge your vehicle, you will multiply the price by the number of kWh that it takes to charge your car. Generally, it costs you about $4-5 to charge your electric car at home once a week.
Most people will charge their electric car about once a week. Obviously, if you drive a lot more, you will have to charge your electric car a lot more. If you are charging your car about once per week, your monthly cost to charge your electric car will only be about $20 or so. If you charge your car at a fast-charging station, these costs can go up quite a bit but are still much cheaper than buying gas.
Another big advantage to charging your car at your house is that it can charge while you are sleeping. When you get home for the night, you can plug it in and when you get up in the morning, it will be charged. There is no need to go to the gas station and wait for your car to fill up. This will save you lots of time and as we all know, time is money.
How Time Of Day Can Affect How Much It Costs To Charge At Home
Have you ever wondered if the time of day that you charge your electric car will have an effect on how much it costs? It actually could. This will depend somewhat on where you live. Many places will charge more for electricity during “peak” hours.
At times when power usage is highest, electric companies will charge more money per kWh. As such, if you charge your car during these peak hours, you will be paying more for your electricity. If you were to wait for a more opportune time, you could save a few cents per kWh.
Another thing to be aware of is that temperature can play a big part in how your car charges. Depending on where you live, the time of day can be crucial for temperature. Extreme cold and extreme hot are both rough on electric car batteries. Studies show that trying to charge your electric car in the cold can take almost 3 times as long to charge. Also, once you’ve charged your car in hot weather, your battery will lose charge much quicker.
Is It Cheaper Than A Charging Station?
So, what is the difference in price between charging your electric car at home or charging at a charging station? It’s actually a pretty big difference. At home, you are only paying for the power that you consume. You are already billed for this monthly. This will be about that $4-5 to charge your car that we were talking about earlier.
Charging at a station can be quite a bit more expensive. Generally, you are looking at more like $0.40 per kWh. This is about three times more expensive, but these chargers also generally charge your car much faster than people have the capability of doing in their own homes.
So how much money does it actually cost to charge your electric car at a charging station? This is going to vary from place to place depending on where you are. Commercial power rates vary across the entire country. Depending on how expensive power is where you are, you will either pay more or less money. Also, the owner of the charging station has full control over the price. Even if they have the same brand of charging station as another place in town, they can always charge more if they feel like it.
Many electric cars charging station networks also offer memberships. This allows you to make an account with them from an app. In the app, you can put a credit card on file so that all of your charges are billed to that card. Generally, membership will cost you anywhere from $4 to $8 a month. This will earn you a big discount on charging every time that you go. This is a great method if you just want to pay a fixed rate each month and not have to hassle with paying every single time you go to charge up.
Also, the rate that you are charged will vary based on the type of charger that you are using. Typically, the faster the charger, the more that you will get charged. Charging rates could be anywhere from 40 cents per kWh or even 35 cents per minute. The pricing structure varies depending on where you are. Obviously, this is much more expensive than if you charge it at your house.
How To Save Money When Charging At Home
So, how can you save even more money while charging your car at home? The first thing that you can do is to avoid charging your car during peak power usage hours. You may want to do some research or even talk to your power company. Some places won’t vary the rates based on time of day and some will. It’s worth looking into and seeing if there are varying rates where you live and when those are. Offsetting your charging from those times can save you some money down the road.
Secondly, being smart about how you charge your car will help you have to charge less often. Remember that you should usually only charge your car to about 80%. This will not only help to extend the life of the battery, but it will also help your battery to maintain its charge for longer. If you charge your car to 100% and then it sits for a while, it will very quickly start to drop in charge. If you charge to only 80%, that drop will be much slower. If your battery drops from 100% to 80% without you ever even driving it, that’s power wasted, and it didn’t take you anywhere.
Third, remember that you don’t need to charge your car every day or every night unless you are putting a lot of miles on it. Ideally, you want to maintain your battery between 20% and 80% charged. If you are driving 30 miles a day, there is no need to plug in your car every single day. You can save yourself time, money, and hassle by just plugging in your car when you need to charge it back up again after it’s gotten low.
Owning an electric car is already much cheaper than an internal combustion engine. Comparing an average of $20-50 a month for charging a car to $250 a month for gas is a no-brainer. Taking advantage of the tips that we’ve explained will help you to maximize your savings even more. Then you have more money to spend on the things that you want rather than fueling your transportation.