More and more car manufacturers are releasing electric vehicle (EV) models as the popularity of these energy-efficient cars grows. Electric vehicles are touted as more environmentally friendly cars than traditional gas-powered ones because they produce fewer harmful emissions – even after considering the source of the electricity. Before buying an electric vehicle, you may wonder how it may impact your monthly electric bill—how does the cost of charging your EV compare to filling up at the gas station?
Firstly, you will need an at-home charging port for your EV. These chargers come in two primary types: level 1 and level 2.
Level 1 charging adapters can be affixed to a regular outlet in your garage to convert it into a charging port for your vehicle. While this is the easiest method of installing a charging port, keep in mind that level 1 chargers only charge at a rate of about 4 miles of range per hour. This means that for an EV with a 100-mile range of battery capacity, the car will take around 24 hours to charge fully. If your EV has a higher range, it will need to charge even longer.
Level 2 chargers charge your battery at a rate of about 25 miles of range per hour—you can fully charge your vehicle in 4-8 hours, depending on the range capacity. These chargers require professional installation by a licensed electrician. Though they cost more initially to install, most people consider the cost worth it to be able to charge your car five times faster than you can with a level 1 charger.
So how much does the cost of charging electric vehicles add to your monthly electric bill? This calculation will depend on a few factors, including how much you drive your car, the capacity of your battery, and the current cost of electricity. In the Sarasota area, electricity currently costs about $0.12 per kilowatt-hour (kWh). On average, EV batteries require about 30 kWh per 100 miles, meaning that each full charge of your car will cost about $3.60. Someone who drives 15,000 miles in a year will spend around $540 on charging their vehicle. This is an excellent saving compared to the average annual cost of filling up a car with gas—depending on the size of the tank and how many miles per gallon the vehicle gets, drivers may spend $1,000-2,000 on gas alone.
While an electric vehicle will undoubtedly increase your electric bill, you will find that you are saving money overall by saying goodbye to the gas pump. Those aren’t the only savings you will experience with electric vehicles, though. These vehicles do not have a gas tank, they also do not require oil. Between batteries with a long lifespan and no quarterly oil changes, maintenance costs for an EV are significantly less than a regular combustion engine. The regenerative braking systems found in EVs tend to be longer-lasting and have fewer issues than standard brakes in a gas-powered car.
If you can afford the initial investment to purchase an electric vehicle, you will find that the savings over time are well worth it. Your wallet and the environment will thank you.
If you are buying an electric vehicle, Promise Electric can assist with installing an electric car charging station at your home. We will evaluate your garage space to determine what is required for your installation and provide pricing before deciding. We will be responsible for obtaining all necessary permits. When it comes it EV station installation, you can trust us!
