The cost of charging electric vehicles varies depending on multiple factors.
August 31, 2020
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The cost of charging electric vehicles varies depending on multiple factors, including electricity price, charging equipment type, installation cost, and number of miles driven. The National Renewable Energy Laboratory and Idaho National Laboratory studied data on all-electric vehicle (EV) use and charging to determine a weighted average cost of charging an EV. They found that the national average EV charging cost ranges from eight cents per kilowatt-hour (kWh) to 27 cents per kWh, with an average of 15 cents per kWh. Based on current charging behavior patterns, the average assumes that 81% of charging was at home, 14% at the workplace or public station, and 5% with a DC fast charger. This translates to an average vehicle lifetime fuel cost savings of $3,000 to $10,500, offsetting or exceeding the higher upfront cost of EVs.
Source: National Renewable Energy Laboratory, “News Release: Research Determines Financial Benefit from Driving Electric Vehicles,” June 22, 2020.