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How Much Does It Cost to Charge an Electric Car? Here’s How You Can Save Money Charging an EV

How Much Does It Cost to Charge an Electric Car? Here’s How You Can Save Money Charging an EV

EV charging costs

Update: Every day that we wake up to higher gas prices, the case gets stronger for EV adoption. If only EV prices weren’t sky-high. With gas at $4.50, the average American driver commuting 15,000 miles per year can easily save $150 per month or more by going electric. Check out the details below.

Charging an electric vehicle is a whole new experience, one that brings advantages and disadvantages for drivers. If you’ve been stopping at gas stations for decades, the thought of plugging in and waiting for your car to charge may be a bit too much to swallow. But over 80% of EV charging is done at home, where the cost savings are greatest. Two out of three American drivers are considering going electric for their next vehicle, and billions of dollars are being funneled into EV development and infrastructure. 

EVs have a higher upfront cost than combustion vehicles, so it’s important to find ways of making up for the expense with fuel savings. Unfortunately, not all charging options are affordable. Here’s how you can save money when charging your EV in 2022. 

The Cost of Charging an Electric Car at Home

EV charging costs

When do you usually charge your phone? While you sleep at home? Oddly enough, for most drivers, that’s exactly how their EVs are charged! Data from the US Department of Energy shows that the vast majority of electric vehicle charging is done at home. Whether you plug in to a simple 120 volt outlet in your driveway or have a more powerful 240 volt outlet in your garage, charging at home is usually the most affordable way to power up. 

In the US, the average residential electricity rate is $0.14 per kilowatt-hour, however rates vary widely from one state to another. In Hawaii, the average rate is a whopping $0.34 per kWh, while it’s between $0.10 and $0.14 per kWh in more affordable energy states like Washington and Texas.

What does that all mean? Say you have a level 2 charger capable of filling up your battery from empty in about 7 hours. Plug in every evening, and wake up with a full battery every morning. What did that full ‘tank’ of electrons cost? Let’s consider a real-world example. The 2022 Tesla Model 3 has a 82 kWh battery, so at average American residential rates, at home charging a Tesla Model 3 at home costs just $11.48 for a full charge. That’s enough electrons for 358 miles of driving. 

What about if the same Model 3 owner lived in California instead? At typical California residential electricity rates, the same charge would cost $18.04. Considering that a tank of gas costs over $75 today, the savings add up. But clearly, it depends on the rates you pay for power and miles driven per year to maximize savings. If you’d like to know more about average residential electricity rates in each state, you can find that information here

Here’s How Much a Typical EV Driver Spends on Charging at Home in Every State

Note: this includes business and commercial rates. The average residential rate is $0.14 per kilowatt-hour.

Here’s how much EV drivers from each state can expect to pay for a full charge. The examples below specifically reflect an EV with an 82 kWh battery, such as a Tesla Model 3 or Model Y. My own Hyundai IONIQ 5 has a 72.5 kWh battery.

The stark difference between home charging and public fast charging highlights the fact that going electric likely only brings savings when most charging is done at home. 

StateResidential Electricity Rate ($ per kWh)Cost of Charging to 100% at Home (82 kWh battery)EV Fuel Savings Compared to Filling an 18 Gallon Tank at $4.50/GalAnnual Savings: 15,000 miles/year, 25 MPG versus 300 miles on a charge
Alabama$0.14$11.48$69.52$2,126
Alaska$0.23$18.86$62.14$1,757
Arizona$0.13$10.66$70.34$2,167
Arkansas$0.11$9.02$71.98$2,249
California$0.22$18.04$62.96$1,798
Colorado$0.14$11.48$69.52$2,126
Connecticut$0.23$18.86$62.14$1,757
Delaware$0.14$11.48$69.52$2,126
DC$0.14$11.48$69.52$2,126
Florida$0.12$9.84$71.16$2,208
Georgia$0.13$10.66$70.34$2,167
Hawaii$0.34$27.88$53.12$1,306
Idaho$0.11$9.02$71.98$2,249
Illinois$0.14$11.48$69.52$2,126
Indiana$0.14$11.48$69.52$2,126
Iowa$0.13$10.66$70.34$2,167
Kansas$0.13$10.66$70.34$2,167
Kentucky$0.12$9.84$71.16$2,208
Louisiana$0.12$9.84$71.16$2,208
Maine$0.18$14.76$66.24$1,962
Maryland$0.14$11.48$69.52$2,126
Massachusetts$0.23$18.86$62.14$1,757
Michigan$0.18$14.76$66.24$1,962
Minnesota$0.14$11.48$69.52$2,126
Mississippi$0.12$9.84$71.16$2,208
Missouri$0.11$9.02$71.98$2,249
Montana$0.12$9.84$71.16$2,208
Nebraska$0.11$9.02$71.98$2,249
Nevada$0.13$10.66$70.34$2,167
New Hampshire$0.21$17.22$63.78$1,839
New Jersey$0.16$13.12$67.88$2,044
New Mexico$0.14$11.48$69.52$2,126
New York$0.21$17.22$63.78$1,839
North Carolina$0.12$9.84$71.16$2,208
North Dakota$0.12$9.84$71.16$2,208
Ohio$0.13$10.66$70.34$2,167
Oklahoma$0.13$10.66$70.34$2,167
Oregon$0.12$9.84$71.16$2,208
Pennsylvania$0.15$12.30$68.70$2,085
Rhode Island$0.22$18.04$62.96$1,798
South Carolina$0.14$11.48$69.52$2,126
South Dakota$0.13$10.66$70.34$2,167
Tennessee$0.12$9.84$71.16$2,208
Texas$0.13$10.66$70.34$2,167
Utah$0.11$9.02$71.98$2,249
Vermont$0.21$17.22$63.78$1,839
Virginia$0.13$10.66$70.34$2,167
Washington$0.11$9.02$71.98$2,249
West Virginia$0.14$11.48$69.52$2,126
Wisconsin$0.15$12.30$68.70$2,085
Wyoming$0.12$9.84$71.16$2,208

The Hidden Costs of Charging an Electric Car

EV charging costs

If you already have a 240 volt dryer outlet within reach, you’re all set for just about any scenario. If you don’t, you’re left with two options. If you drive less than 40 miles on most days and live within a reasonable distance of a public charger (in case you need it), you will save the most money by using the so-called ‘trickle charge’ supplied by the charger included with the car. You simply plug into a standard three-prong 120 volt wall outlet. This is called level 1 charging.

Depending on the vehicle, trickle charging typically adds 3-4 miles of charge per hour to the battery, or about 40 miles per night if you leave your car plugged in. So, how much does it cost to charge an electric car? If the above scenario describes your driving habits, you’ll just pay the same residential electricity rates that your pay to power your home.

If that’s not quite enough recharge for your daily needs, you’ll either need to make weekly visits to public fast chargers, or spend anywhere from $800 – $2000 on installation of a level 2 charger. Level 2 chargers supply more power in less time. They plug into a 240 volt outlet, the exact same kind that is used for dryers, ovens and other large appliances at home. 

If you already have a conveniently located dryer outlet within reach of where you park the car, you can purchase a power splitter for as little as $300. Splitters send charge to the home appliance (such as a dryer) when needed, and then divert power to charging the car when the appliance is not in use. This saves A LOT of money versus getting electrical work done!

Do I need to install a charger?

In summary, if you drive less than 40 miles a day, it usually makes the most sense to avoid the costly level 2 charger and stick with a regular wall outlet. If you drive significantly more, consider installing a level 2 charger or simply topping off your battery once or twice a week at a local public fast charger to avoid the expense of electrical work. 

How Much Does Public Fast Charging Cost?

Tesla supercharger

First, there’s one thing we need to make clear. Electric vehicles are not meant to be charged at public DC (direct current) fast chargers every time a charge is needed. It stresses the battery, and it costs a lot more than charging at home. For instance, fast chargers can charge a Model 3 from 10-80% in less than 20 minutes. That much energy transfer puts wear on the vehicle’s battery management system. Fast charging is great for road trips or when you’re in a pinch, but that’s all they’re meant for. 

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Tesla Superchargers

How much can you expect to pay for charging at a public DC fast charging station? Let’s consider the two largest charging networks in the nation: Tesla Superchargers and Electrify America.

As of early 2022, most Tesla Superchargers charge $0.28 per kWh of electricity. For a 2022 Tesla Model Y with a 82 kWh battery pack, that adds up to a cost of $22.96 to go 330 miles on a charge. Some Superchargers have variable pricing dependent on demand charges, as noted on Tesla’s Supercharging support page. “Certain Supercharger stations offer on-peak and off-peak rates. The rates and peak times are both displayed in the navigation application on the touchscreen.”

Depending on state and local regulations, some Tesla Superchargers charge per minute, rather than per kilowatt-hour of electricity. Tesla recently updated the rate structure for their per-minute Superchargers. With Tesla’s plug-and-charge, customers simply plug in the vehicle and the charger communicates with the car, begins charging and bills the customer’s Tesla account. 

Here’s how the updated rate structure is tiered in 2022:

Tesla Supercharger

Source: Tesla 

Electrify America

ev charging station

Over at Electrify America, customers can either pay $0.43 per kWh of electricity, or become a Pass+ member for just $4/month and charge at $0.31 per kWh. Having such an affordable membership plan is an interesting approach. That is to say, it almost seems like Electrify America is aiming to become a subscription that everyone with an EV will buy into for a sense of range security, even if they rarely use the network. Down the road, I’m sure prices will go up.

For a Ford Mustang Mach-E, filling up the 98 kWh battery from empty will cost $30.38 with the Pass+ membership. However, the cost jumps to $42.14 without it. Clearly, the fuel savings we often associate with going electric evaporate if charging costs are too high.

Cost of Charging to 100% at a Tesla SuperchargerCost of Charging to 100% at Electrify America as a MemberCost of Charging to 100% at Electrify America as a GuestCost of Filling up an 18 Gallon Tank of Gas at $3.25/Gallon
$22.96$25.42$35.26$58.50

Some Drivers Don’t Spend a Dime on Charging

EV charging costs

If you know someone who pulls up to Tesla Superchargers in their 2014 Model S and leaves without paying a dime, don’t expect the same perks when shopping for a 2022 Tesla. Early adopters received free supercharging ‘for life’, and there are plenty of Tesla owners out there who keep driving their high-mileage, slow-charging old Model S just for the free charging incentive. 

If you’re hoping to score free charging with any of the 2022 EV models, I’ve got good news for you. Many 2022 models come with free charging at Electrify America charging stations. These new EVs all come with a free charging incentive for a limited time:

  • Audi e-tron (250kWh at Electrify America, or about 1,000 miles of driving)
  • Audi Q4 e-tron (250kWh at Electrify America, or about 1,000 miles of driving)
  • Ford Mustang Mach-E (250kWh at Electrify America, or about 1,000 miles of driving)
  • Hyundai IONIQ EV (250kWh at Electrify America, or about 1,000 miles of driving)
  • Hyundai IONIQ 5 (2 years of free charging at Electrify America, 30 minutes per session)
  • Hyundai Kona EV (250kWh at Electrify America, or about 1,000 miles of driving)
  • Lucid Air (3 years of free charging at Electrify America)
  • Mercedes EQS (2 years of free charging at Electrify America, 30 minutes per session)
  • Polestar 2 (2 years of free charging at Electrify America, 30 minutes per session)
  • Porsche Taycan (3 years of free charging at Electrify America, 30 minutes per session)
  • Rivian R1T and R1S (12 months of free charging at Rivian’s Adventure Network and Waypoint chargers; continued free charging with Rivian membership subscription)
  • Volkswagen ID.4 (3 years of free charging at Electrify America, 30 minutes per session)

Some employers, especially large corporations and tech companies, offer free charging for EVs at dedicated parking spots. However, if your employer doesn’t offer charging, maybe you can be the one to spark the idea and help make it happen. 

Ever thought of installing solar panels on your roof? 

Prices have plummeted in recent years, and having an EV is yet another incentive to go solar. Most utility customers can participate in a net metering program that compensates homeowners for unused solar electricity contributed to the grid. If the sun is shining bright while you’re away at work, you still receive bill credits for the unused power your panels generated. The utility bill credits you’ll receive may cover the entire cost of charging your car. That’s 100% clean, free power for both your home and transportation!

CarEdge’s Take on the Future of EV Charging 

How much does it cost to charge an electric car? As you can see, it depends on utility rates, incentives and if you charge at home or at public fast chargers. Fuel savings is one of the greatest benefits of switching from a combustion vehicle to an electric vehicle. As your consumer advocate, we want to make it clear that EVs don’t always save money. However, for the vast majority of American drivers, affordable electricity rates mean that at least $1,000 could be saved each year by going electric. And that doesn’t include the lower maintenance costs that most EVs have. For those who are fortunate to have a place to plug in at home or work, switching to an electric vehicle is a no-brainer. 

Have any questions or comments? How are you feeling about the electrification of the auto industry? Let us know in the comments below, or check out the CarEdge Community forum at caredge.kinsta.cloud. You can also reach out to me at justin@CarEdge.com.

Every Electric Vehicle On Sale in 2022: Wait Times and Price

Every Electric Vehicle On Sale in 2022: Wait Times and Price

Hyundai IONIQ 5

(Updated for Summer 2022)

As anyone who’s fallen head over heels for one of the many 2022 electric vehicles and clicked that ‘Order’ button can attest, just because you can order an EV in 2022 doesn’t mean you can drive it home this year. This was a problem I faced myself, but I finally broke the code and got a Hyundai IONIQ 5 at MSRP (here’s how).

Soon after I began my online car search, it became clear that if I wanted a brand-new vehicle, my options were limited by availability. To make the most of the situation, I thought I’d share what I’ve learned about the availability and estimated delivery times for EVs on the market today. Here’s what we know as we kick off the new year.

Note: These are fully-electric models that can either be ordered now or purchased at a dealership today. Many more have been announced but are not yet officially available.

MakeModelClassStarting MSRPEstimated Delivery/Lot Availability*
Audie-troncrossover SUV$65,900Available Now
AudiQ4 e-troncrossover SUV$43,900Available Now
AudiRS e-tron GTsedan$103,445Available Now
BMWiXSUV$88,050Mid-2022
BMWi4sedan$55,400Mid-2022
CadillacLyriqSUV$62,990Late-2022
ChevroletBolthatchback$31,000Available Now
ChevroletBolt EUVcrossover SUV$33,500Available Now
FiskerOceancrossover SUV$37,4992023
FordMustang Mach-Ecrossover SUV$43,895Available Now
FordF-150 Lightningtruck$39,9742023-2024
GMCHummer EVtruck$99,995Mid-to-late 2022
HyundaiIONIQcrossover SUV$33,245Available Now (Discontinued)
HyundaiIONIQ 5crossover SUV$43,650Available Now
HyundaiKonacrossover SUV$34,000Available Now
JaguarI-Pacecrossover SUV$69,900Available Now
KiaNirocrossover SUV$39,990Available Now
KiaEV6crossover SUV$42,115Available Now
LucidAirsedan$77,400Mid-2022
MazdaMX-30crossover SUV$33,4702022 - CA Only
MercedesEQSsedan$102,310Available Now
MercedesEQBSUV~$55,000Late 2022
NissanLeafhatchback$27,400Available Now
NissanAriyacrossover SUV$47,125Late 2022
PolestarPolestar 2sedan$45,900Available Now
PorscheTaycansedan$82,700Available Now
RivianR1Ttruck$67,5002023
RivianR1SSUV$70,0002023
SubaruSolterracrossover SUV$46,220Mid-to-late 2022
TeslaModel Ssedan$94,990Late 2022 - 2023
TeslaModel 3sedan$46,990Mid-to-late 2022
TeslaModel XSUV$104,9902023
TeslaModel Ycrossover SUV$62,990Late 2022 - 2023
ToyotabZ4Xcrossover SUV$43,215Mid-to-late 2022
VolkswagenID.4crossover SUV$40,760Mid-2022
VolvoXC40 Rechargecrossover SUV$55,300Available Now
*For a vehicle ordered in May 2022, unless there's existing dealership supply.

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What Does It All Mean? Supply and Demand Are Out of Whack

A few things might stand out to you on this list. Not a lot of options are available if you need a new vehicle right now. VW Group’s new EVs are available at many dealerships, although there are reports of major dealer markups. It’s quite easy to find EVs of the previous generation on dealer lots. Think Kia eNiro, Hyundai Kona EV, Nissan Leaf and the like. 

The vast majority of 2022 electric vehicles are crossovers. No surprise there given the sales trends over the past decade. Honda doesn’t have a single EV arriving in the North American market until the 2024 Prologue electric SUV. That is surprising considering the popularity and good reputation of the brand. What will it take for automakers to catch up to demand? An end to the chip shortage would be a great step in the right direction. There’s also the supply versus demand factor. Ford, Rivian, Tesla and VW are all swamped with orders well into 2022, and even into 2023. All except Tesla are EV newcomers who are facing the same production ramp-up struggles that Tesla just barely survived a few years ago. We’ll update this page regularly as more information becomes available, so save it to your bookmarks!

Did we miss anything? Let us know in the comments below, or shoot an email to justin@CarEdge.com.

Charging an EV in America Is About to Get Much Easier

Charging an EV in America Is About to Get Much Easier

If America is to go electric as the automakers claim, access to EV charging stations will have to grow exponentially in just the next few years. As it stands today, there are 63,000 public charging stations, but only 17,460 are fast chargers. That works out to just 37 charging ports per 100,000 Americans. Industry experts estimate the US will need more than 100,000 public fast chargers for the 22 million EVs that are expected to hit American roads by 2030. 

Most charging is done at home, but public chargers are an important piece of the puzzle. They are essential for interstate travel and road trips. Will hitting the road in an EV ever be as simple and hassle-free as it is in a combustion vehicle? Here are the latest developments in the world of EV charging access.

The 2021 Bipartisan Infrastructure Bill Allocates $5 Billion for Charging

President Biden, the US Department of Transportation, and the US Department of Energy announced the allocation of $5 billion over five years for the establishment of a National EV Charging Network. The funding is made possible by the Bipartisan Infrastructure Law, which was signed into law in November of 2021.

The chief goal of the charging funds is to create a network of EV charging stations along the Interstate Highway System. The total amount available to states in 2022 is $615 million, but states must submit an EV Infrastructure Deployment Plan before they can access these funds. A second, competitive grant program designed to further increase EV charging access in locations throughout the country, including in rural and underserved communities, will be announced later this year.

Learn more about how much each state is receiving to build electric car charging stations here.

Utilities Come Together to Create the National Electric Highway Coalition

Although EVs only made up 5% of US passenger vehicle sales through mid-2021, a recent survey found that 39% of Americans say they are likely to purchase an EV for their next vehicle. On top of that, OEM executives expect half of all sales to be electric in 2030, just eight years ahead. Taken together, this points towards a future where EVs are no longer fringe models with limited audiences; EVs are going mainstream. 

Over 80% of charging is done at home at very affordable residential rates. The remainder is at public charging stations that vary widely in pricing. In the states that lead in EV ownership, existing charging stations often have long wait times during periods of busy travel. The need for more public charging presents a business opportunity just waiting to be taken advantage of, and now the big utilities are taking notice. 

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Just this month, the Edison Electric Institute (EEI), an association representing US utilities, announced a monumental initiative to combine the forces of 51 investor-owned electric companies, one electric cooperative, and the Tennessee Valley Authority. This new coalition is a coordinated effort to install thousands of fast charging ports along major U.S. travel corridors by the end of 2023. The coalition members are committing $3 billion of their own money to bring fast chargers online over the next two years. 

The 2021 bipartisan infrastructure package passed by congress allocates $7.5 billion for the expansion of charging to 500,000 charging plugs nationwide. The administration announced plans to designate highways as “corridor-ready” for electric vehicles, meaning charging stations are located no more than 50 miles apart and no more than five miles off the highway. 

Updated: Will Tesla’s Supercharger Network Ever Open to Non-Tesla EVs?

Tesla supercharger

For most of the last decade, Tesla’s Supercharger network was the only nationwide fast-charging network for EV owners. It was long rumored that Tesla was on the verge of opening select Supercharger locations to all EV owners, but it appears that North American Tesla Superchargers will remain a walled garden for now. Tesla has already opened Supercharger access to all in France, The Netherlands, and Norway. Non-Teslas pay a higher price for charging, and Tesla says that will fund the continued growth of the network. 

Electrify America Will Double Its Network by 2025

EV charging

One outcome of the Volkswagen dieselgate debacle was the creation of Electrify America, a VW-funded nationwide charging network in the US. After a rocky start plagued by unreliability and low use, things are looking up for EA. This past summer, EA announced their “Boost Plan”  to more than double their current EV charging infrastructure in the United States and Canada. At the end of 2021, EA has completed nearly 800 charging stations with a total of 3,500 charge ports. By the end of 2025, EA plans to have more than 1,800 fast charging stations and 10,000 individual chargers installed.

The all-new Volkswagen ID.4 electric crossover comes with three years of free fast charging at Electrify America stations. Hyundai and Ford are also offering limited free charging incentives for their EVs. As the networks expand, the value of these free charging incentives will grow. 

Other Automakers are Offering Charging Networks, Either Through Partnerships or Independently

Ford F-150 Lightning EV

Legacy automakers and EV startups have plans to make public charging easier for their customers. GM announced Ultium Charge 360, a plan that will integrate charging networks for seamless use with all GM vehicles. They’ve established partnerships with EVgo, Blink, ChargePoint and other big names in North America. Furthermore, GM’s new Dealer Community Charging Program will see dealerships playing an active role in bringing 40,000 level 2 chargers to underserved communities, including rural and urban locations.

Ford’s BlueOval charging network makes plug-and-charge possible for the Mustang Mach-E and future EV models, a nod to Tesla’s plug-and-charge popularity. Ford says that they want charging an EV to be as simple as stopping at a gas station.

By the end of 2023, Rivian’s Adventure Network of chargers will have 3,500 fast chargers installed at 600 sites in North America. Rivian’s brand targets outdoor enthusiasts and overlanding types, so the new network will cater to EV owners who venture off the beaten path. At first, the Rivian Adventure Network will be exclusive to Rivian owners, but the company says they will open it up to other EV brands shortly after. This is a big deal for EV owners looking for zero-emissions wilderness adventures, especially considering that the much-hyped Subaru Solterra all-wheel drive EV barely makes it 220 miles on a charge. 

Will EV Charging Stations Replace Gas Stations?

ev charging station

The short answer is no, not for decades, if ever. However, more and more gas stations are adding fast chargers to their parking lots. Sheetz, a popular gas station chain in the East, has been the site of many Tesla Superchargers. In Maryland, one gas station ditched gas entirely for EV charging stations. The new infrastructure bill’s $7.5 billion for EV charging will bring chargers to more gas stations, truck stops and interstate rest areas. The Department of Energy already keeps track of every fast charging station in the nation, and even has a neat map of stations to explore.

Retailers are seeing the benefits of hosting EV charging. Most Electrify America stations are located in Walmart or Target parking lots in close proximity to dining and shopping. Movie theaters and shopping malls often offer free charging for customers. This is a trend we expect to continue, bringing convenience and the occasional free charge to EV owners. 

CarEdge’s Take On the Future of Charging in America

EV charging stations are great for highway adventures, but it’s important to remember that EV owners who rely on public charging will spend far more on charging than those who charge mostly at home. EV drivers who pay for public charging will see a much higher total cost of ownership, possibly even approaching that of a combustion vehicle. 

More EV models are making their debut in 2022, and almost all of them charge at over 150 kW. This is great for those wanting to go electric yet dreading long waits at a charger. The next two years will transform the experience of EV ownership in America. With so many new fast chargers coming online and even better models to choose from, EV technology just might be maturing right as American infrastructure catches up with demand.