The costs of home charging an EV vary. Installation depends upon your current electrical capacity and you electricity rates can fluctuate throughout the day and evening. Some homes may use solar power, and the cost of the renewable energy system can also affect charging expenses.
Determining Home Charging Costs
Unlike gas-powered vehicles that use miles per gallon, EVs’ energy consumption is measured in kilowatt-hours per 100 miles. You can find your EV’s kilowatt rating in the owner’s manual and on the economy sticker. The Department of Energy also tracks EV energy-efficient ratings on its website.
To find out how much home charging is adding to your energy bill, multiply the EV’s kWh/100 miles by the cost per kilowatt.
EV drivers can find free charging stations, but most use a home charger setup. Electricity rates vary by state and utility company. The type of electric plan also affects home charging costs.
Some utility companies offer discounts for EV home chargers. Whether you charge during peak rates or overnight when energy costs are lower also affects charging rates.
To learn more about electricity rates and their fluctuations read our in-depth blog, Electricity Demand Charges – What EV Charger Owners Need to Know. While this pertains more to businesses, depending upon your location this topic can effect home owners as well.
Costs for a Home Charger Setup
EV home chargers are not always included in a vehicle purchase. The electric vehicle supply equipment (EVSE) is occasionally extra. You also want to consider the costs associated with installing a home charger setup.
Some EV owners may also be considering purchasing solar panels to power their EV, home, or both. These are additional costs to consider.
Home Charger Setup Costs
Electrical vehicles can typically charge using a standard 120V current. Known as Level 1 charging, it works best with vehicles sporting smaller batteries, under 10 kWh. Level 2 charging is faster and uses a 240-volt current. It’s the same current that powers your home’s larger appliances like a dryer.
Level 2 charging will ensure your vehicle is fully topped off overnight. It’s also ideal for quick charges, to top off your battery.
Multiple companies provide EV home chargers. As long as the charger is compatible with your EV, you have several options. Shopping around will show you Level 2 chargers ranging from $200 to $1000. It does not include installation costs.
Cost to Install a Home Charger Setup
Installation costs for EV home chargers vary by location. For example, In the Western U.S., installation can run from $950 to $1,300, compared to the Central U.S. states, where costs range from $800 to $1,100. Costs in the Southeast states vary from $850 to $1,150, while it’s around $900 to $1,200 to install a home EV charger in the Northeast.
Materials and labor make up a portion of the installation costs and construction permits also affect the price.
Apogee Charging Solutions has dedicated electricians that specialize in single family home EV charger installations. With our Level 2 Home Chargers, you can now charge at commercial speeds.
Costs of Installing a Solar System
Most homeowners are not going to install a home solar system to solely power their EV. The costs can go from $7,000 and higher when you factor in the price of the energy storage system. It can double the price of the solar system.
Installing a solar panel system makes sense when you are using it to power your house and charge your EV. While it depends on the property, most solar systems pay for themselves within seven years.
The national average for solar installation is around $20,498 after redeeming the federal tax credit. You can also check with your utility provider for additional rebates.
Charge at Home with Apogee Charging Soltuions
Charging your electric vehicle at home means thinking about the associated costs. Talk to us to learn more about how you can reduce charging and installation costs.
To speak with an Apogee Charging Solutions EV charging specialist about home chargers and installation, call 484-816-2076, email [email protected], or schedule a call that fits your needs by clicking the button below.