The cost to charge an EV per month at home depends on how much you drive, your vehicle’s efficiency, and your electricity rate, so it varies from household to household, but it is generally much cheaper than fueling a gas car. You can estimate it by working out how many kilowatt-hours your driving uses per month and multiplying by your electricity rate. Charging during off-peak hours on a time-of-use rate can lower it further. Understanding how to estimate the cost helps you see the savings of driving electric.
Here is how to think about the monthly cost of charging an EV at home.
It depends on three things
Your monthly home charging cost comes down to three main factors:
- How much you drive, since more miles means more energy used
- Your vehicle’s efficiency, how many miles it travels per kilowatt-hour
- Your electricity rate, the price you pay per kilowatt-hour
Because these vary by person and location, there is no single monthly figure, but you can estimate your own by combining them.
How to estimate it
To estimate your monthly charging cost:
- Find your monthly miles, roughly how far you drive in a month
- Divide by your car’s efficiency (miles per kilowatt-hour) to get the kilowatt-hours used
- Multiply by your electricity rate (dollars per kilowatt-hour) to get the cost
For example, if you drive a certain number of miles, use a certain number of kWh based on your car’s efficiency, and pay your local rate per kWh, multiplying gives your estimated monthly cost. Plugging in your own numbers gives a realistic estimate for your situation.
It is usually cheaper than gas
Charging an EV at home is generally much cheaper per mile than fueling a comparable gas car, which is one of the appeals of driving electric. The exact savings depend on your electricity rate versus gas prices and the efficiency of the vehicles compared, but for most drivers, home charging costs significantly less per mile than gasoline. This is why the monthly charging cost is often a pleasant surprise compared to a former fuel bill.
Off-peak rates lower it further
You can reduce your monthly charging cost by charging during off-peak hours on a time-of-use rate, where available. Since EV charging is a flexible load you can schedule overnight, charging when off-peak rates apply means you pay less per kilowatt-hour for that energy. In Maryland, utilities like BGE and Pepco offer time-of-use rate options, so charging off-peak can meaningfully lower your monthly cost, as covered in our article on off-peak EV charging rates.
Your rate matters most
Because the cost is your energy used times your rate, your electricity rate has a big influence on the monthly cost. Knowing your rate per kilowatt-hour (and whether a time-of-use rate could lower your EV charging cost) is key to estimating and minimizing the cost. If you are considering home charging, understanding your rate and off-peak options helps you plan, and a licensed electrician can set up efficient Level 2 charging to take advantage of off-peak rates.
The cost to charge an EV per month at home depends on how much you drive, your vehicle’s efficiency, and your electricity rate, so it varies, but it is generally much cheaper than fueling a gas car. Estimate it by dividing your monthly miles by your car’s efficiency to get kilowatt-hours, then multiplying by your rate. Charging off-peak on a time-of-use rate lowers it further, and a licensed electrician can set up efficient home charging.
Stella Electric installs efficient home EV charging for homeowners across the Baltimore area and throughout Maryland, with flat-rate pricing and no overtime charges. If you want affordable home charging, we can set it up. Financing is available on qualifying projects.
