With gas prices through the roof and showing no signs of slowing down, we’re seeing more and more people discussing switching to an electric or hybrid vehicle. If you’re not sure if you want to go electric and are wondering, “Is it cheaper to charge an electric vehicle than to fill up a car with gas?” you’re not alone.
If you’re tired of the pain at the pump, you’ll be glad to know that charging an EV is significantly cheaper than filling up with petrol or worse, diesel, in almost all scenarios.
However, there are various factors and things you should know before jumping head first. The cost of charging an electric vehicle varies at home compared to public charging stations, especially if you choose to charge faster. And just like gas, electricity prices can change with time and place. Here’s an overview of how much it costs to charge an electric vehicle and how it compares to filling up with petrol.
Gas vs. electric: in figures
With an electric vehicle, you don’t pay per gallon of gas, you pay per kilowatt-hour to charge the battery. And just like gas prices vary at each gas station, the price of a kWh varies greatly depending on where you live and, in some states, depending on the time of day and peak hours. This makes it difficult to say how much it costs to charge an electric vehicle, but here are some averages.
According to that Environmental Protection Agency (EPA), the average new gas vehicle sold in the US in 2020 had a combined fuel economy of 25.4 miles per gallon. Driving 100 miles in one of these vehicles would use approximately 3.9 gallons of gas.
It gets a bit confusing when it comes to evaluating electric vehicles. The EPA’s efficiency rating for electric vehicles is known as “MPGe,” which stands for miles per gallon equivalent. This rating gives consumers an idea of how far an electric vehicle can go on the chemically equivalent amount of energy from a gallon of gasoline.
The same EPA report suggests that an average electric vehicle will use 33.7 kilowatt hours of energy to equal one gallon of regular gasoline. Numbers haven’t been updated to include 2021 or 2022, so this is as close as can be.
The average MPGe rating for 2022 model year electric vehicles sold in the US is about 97, so driving 100 miles in this hypothetical average vehicle would use 34.7 kWh of electricity.
If you’re doing hypothetical gas prices here, it’s going to take time if you’re spending $4.50 a gallon of gas almost $18 to get 3.9 gallons and go 100 miles. On average, the national price for 1kWh of electricity (at home) is around $0.14. Using the EPA’s 34.7 kWh rating with energy price averages, It costs about $4.85 to get 3.9 “gallons” of electricity to go 100 miles.
I know this is a bit confusing, but the bottom line is, on average, it’s 3-4 times cheaper to fill up your electric vehicle with battery power than to fill up a petrol-powered car. Those numbers vary, and in some states like Arizona, South Dakota, Oklahoma, or Washington, electricity is even cheaper, costing around $3.47 to drive 100 miles in an electric vehicle.
So yes, charging an electric vehicle from home is a lot cheaper than buying petrol. However, those savings quickly diminish when you travel and use public chargers. And in some states, you could spend more if you use fast chargers, but we’ll get to that below.
The cost of charging an electric vehicle at home
Charging an electric vehicle at home is significantly cheaper than filling up with petrol and also significantly cheaper than using a public charging station. That’s an essential aspect here and something to remember.
On average, most US homes pay almost 14 cents per kWh, but that price can double during peak periods or in California and New York. On the other hand, in Oklahoma, that price is only 10 cents. Still, the average cost is $0.14 per kWh, which is far cheaper than gas. Keep in mind that some regions cost more.
Using the same calculation as above, if it costs about $4.85 to get 100 miles of electricity worth 3.9 gallons, you can expect to pay less than $15 on average to get 300 miles in an electric vehicle to drive. Most electric vehicles have a range of about 300 miles, so it essentially costs $15 to fill the electric tank. You can’t drive 300 miles in a $15 gas car.
The new Ford F-150 Lightning EV Truck has a 131 kWh battery. If you pay $0.14 per kWh at home, it costs $18.34 to charge your truck to 100% battery capacity. It’s slow, taking 6-8 hours to charge at home with a Level 1 charger, but it’s cheaper than petrol.
Keep in mind that you will likely have to spend anywhere from a few hundred dollars to install a charger in your home, and it can cost close to $3,000 for faster home chargers. So add that to your calculations in the long term.
Most EV owners charge their car at home and sit on a charger overnight. And considering that most regions offer discounts on electricity at night when usage is low, this is the cheapest place and time to charge your electric car.
However, installing a home charger may be impossible in some rental homes and apartments. Then you have to use public charging stations.
The cost of charging an electric vehicle on public chargers
If you can’t install an electric vehicle charger at home or plan to make a lot of car trips, use public chargers. Again, this is where it gets confusing as loading speeds and costs can vary. Most public electric vehicle charging stations in the United States offer fast charging speeds, which means they are more expensive than a home charger.
Tesla has over 30,000 Superchargers around the world, but the average cost is about $0.27 per kWh, nearly double what you would pay at home. And in some states like California, Tesla drivers are seeing prices in excess of $0.43 per kWh. So instead of costing $15 to drive 300 miles on a charge at home, you’re spending about $44. In some cases we have seen electricity prices in excess of 50 cents per kWh.
see the difference It’s absolutely cheaper to charge an electric vehicle than gas, but it’s also confusing and the price can vary significantly depending on where you charge, how fast you charge and where you live.
There are cheaper public chargers, but they’re also slow. Fast charging stations can charge a battery from 20-80% in about 25 minutes, but you pay for that premium. The website My EV has a detailed list of the different charging network locations, prices and subscription fees for those interested. You can often join a charging subscription service and get discounted rates, but it won’t be as affordable as charging at home.
And while you can find a slower charging station in public, no one wants to wait an hour just to drive 75-100 miles worth of battery power. As a result, most public stations offer faster, albeit more expensive, charging services.
If you’re planning on charging your fancy new electric vehicle at home, it’s significantly cheaper than buying petrol. With public fast charging stations, however, these savings fizzle out a bit. It’s still more affordable, but the cost of electricity is going up, just like everything else, so maybe it won’t be for long.
However, there is a silver lining. Until 2017, Tesla offered free supercharging on most vehicles, which was a big plus. These days we see big-name automakers like Volkswagen charging for free for two years with every EV purchase, and Nissan is doing the same. Other brands like KIA have partnered with Electrify America, offering limited free public charging to owners.
It’s important to remember that not everyone buys an electric car expecting huge savings at the pump. Everyone has their reasons. Additionally, when you consider how expensive electric vehicles are becoming, you need to weigh your options before making the switch.
All in all, your mileage may vary, but that’s usually the case.
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