What is the Cost of Charging Your EV

by | Mar 2, 2023 | 0 comments |

When buying a new vehicle, one of the first thoughts is how much is it going to cost to fuel the car. The cost of fueling an EV is not going to be as simple as it is for gas vehicles, there are a few factors involved in charging your electric car. Drivers need to consider how they will be charging their car and the cost of the charging station rates they will be stopping at most, whether that’s an at home charging station or a public access station nearby. The rates also will vary depending on how long your vehicle needs to charge and how fast the EV charging station takes. If the vehicle has a shorter EV range, then drivers will need to stop at charging stations more often. Level 2 charging stations and fast charging stations run at different speeds and can result in a different charging cost.

Lots of businesses own EV charging stations that are open to the public rather than their clients or guests. The owners are able to set the rates of the station and can sometimes change the rates depending on the time of day. During peak times, the prices may increase. It’s possible to get vouchers or discount codes to charge. Businesses may offer employees a discounted rate. Hotels can also offer voucher or discount codes to guests staying at the hotel or visiting for events and conferences.

EV charging stations are typically leased by a network, like Tesla or Noodoe. Each charging network may have minimum rates for cost per kilowatt of electricity or flat rate to start the charge at all. A lot of networks also have their own apps on mobile devices to assist in finding and paying for charging stations. Some of these apps may have a membership fee or require users to load payments into the app before charging.

If the driver owns an at-home charging station at their own residency, then the cost of charging is based on their own utility provider. There are also up-front fees for the cost of installation of the infrastructure. Homeowners may qualify for grants for installing and using an EV charging station on their property.

Click here to read the full article, originally published February 17, 2023, by Cars.com.


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