EV Charging Cost Calculator
Calculate your electric vehicle charging costs, compare to gasoline, and see annual savings.
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Understanding EV Charging Efficiency
Not all electricity from the wall reaches your battery. Level 2 charging is about 88โ92% efficient; Level 1 is similar. DC fast charging can be 85โ92% efficient. This means if your battery is 75 kWh, you'll actually draw about 80โ82 kWh from the grid for a full charge. Factor this into cost estimates at public stations that charge by kWh dispensed.
Average US Electricity Rate
The US residential average is about $0.16/kWh, ranging from $0.10/kWh (Louisiana) to $0.30+/kWh (California, Hawaii). Time-of-use (TOU) rates can drop to $0.07โ0.10/kWh overnight โ ideal for EV owners. Many utilities offer EV-specific rate plans. Charging during off-peak hours (10pmโ6am) is the single biggest way to reduce EV fuel costs.
DC Fast Charging vs. Home Charging Cost
Public DC fast charging typically costs $0.28โ0.45/kWh, vs $0.12โ0.18/kWh at home. Relying entirely on public fast charging eliminates the cost advantage of EVs over gasoline. The EV ownership model is optimized for those who can charge primarily at home overnight. Apartment dwellers without access to Level 2 charging face a significant cost disadvantage.