Charging at Home:
If you charge your EV at home, the cost of charging will depend on the local electricity rates and the charging rate of the charger. The charging rate of the charger will determine how much power is used during the charging process. The charging rate is measured in kilowatts (kW); the higher the charging rate, the faster the charging time. Most Level 2 chargers use around 7 kW to 10 kW of power during the charging process, and Level 1 chargers use around 1.4 kW to 1.9 kW of power.
For example, if you have a 60 kWh battery EV and use a Level 2 charger that charges at 7 kW, it will take around 8 hours to charge the battery fully. If the electricity rate is $0.12 per kWh, the charging cost will be around $8.64 (60 kWh x $0.12 per kWh). However, if you use a Level 1 charger that charges at 1.4 kW, it will take around 43 hours to charge the battery fully, and the cost of charging will be around $12.96 (60 kWh x $0.12 per kWh).
Charging at Public Charging Stations:
If you charge your EV at public charging stations, the cost of charging will depend on the charging rate of the station and the local electricity rates. Most public charging stations charge a flat fee per charging session or a fee per kWh of electricity used.
For example, if you use a public charging station that charges $0.30 per kWh and your EV has a 60 kWh battery, it will cost around $18 to fully charge the battery (60 kWh x $0.30 per kWh). However, if the charging station charges a flat fee of $5 per charging session, using a Level 2 charger at home may be more cost-effective.
Overall, the cost of charging an EV varies depending on several factors, such as the size of the battery, the charging rate, the local electricity rates, and the charging location. Considering these factors is essential when deciding where to charge your EV and how much it will cost. Additionally, many utilities offer time-of-use or EV-specific rates to help EV owners save money on charging costs.