The True Cost of Powering an Electric Car

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Cost to Charge

You might occasionally be able to charge for free at a public station, but that’s not something you can count on. Most electric-car owners charge at home, and so you’ll need to know what it costs to charge there.

The cost of electricity is much more stable than the cost of gasoline, but it varies tremendously in the U.S. The residential average per kilowatt-hour currently ranges from 9.3 cents in Louisiana to 28.9 cents in Hawaii. The national average is 13.3 cents, which is only about 2 cents more than it was a decade ago. In California, which leads the nation in electric car sales, the residential average cost per kilowatt hour is 20.1 cents. To find your state’s average, check this state-by-state list of the average cost per kilowatt-hour.

Your state’s average is just that, however. What you pay is determined by your utility company and the plan you use. Utility companies typically have two types of rate plans. In level-of-use plans, electricity cost rises with your consumption. A kilowatt at month’s end is likely to cost more than one used on the first day.

With time-of-use plans, you pay by the time of day you’re using electricity. Electricity that you use at peak hours costs the most. Some plans divide the day into peak and off-peak periods. Some also have mid-peak slots.

To show how these plans work, we’ll use the example of Southern California Edison, based in the state where most electric cars are sold. Southern California Edison has a triple-tier, consumption-based basic monthly plan for residential users that starts at 18 cents per kWh and rises to 37 cents. The utility also has six optional residential time-of-use plans. All of them charge the most for consumption in late afternoon and early evening.

One of the plans charges separately for household use and EV charging, with lower rates for the cars. But this requires the installation of a separate meter for the home EV charging station. That can cost well over $1,000.

Depending on the Southern California Edison rate plan, a 2020 Tesla Model 3 Standard Range Plus, rated at 24 kWh/100 miles, would cost as little as $1.44 for 50 miles’ worth of power if home charging started at 11 p.m. Or it could cost four times as much, $5.88, if the car charged during peak hours.

On the separate-meter time-of-use plan, that charging session would run $4.44 during the peak noon-9 p.m. period. It would be $2.04 the rest of the time.

If you’re going to be a heavy user of 240-volt public charging stations, pay attention to the speed of the onboard charger for any EV you’re considering. How much you’ll pay at a public charging station depends on it.

This is because charge stations often make you pay by the hour. So a car with a slow onboard charger will cost more to fill than one with a fast one. And the differences can be huge: A base 2017 Nissan Leaf with the then-standard 3.3-kW onboard charger takes twice as long to charge and twice as much electricity to fill than a 2018 or later Nissan Leaf with its 6.6-kW onboard charger. Thankfully, many EVs now come standard with a 6.6- or 7.2-kW charger.

Costs for a Home Charging Setup

Besides understanding what it will cost to power an EV, it’s also important to know the cost of a key piece of at-home technology: the electric vehicle supply equipment (EVSE), along with the cost of its installation. Another potential cost is a residential solar power system, which a growing number of people are considering, either for vehicle charging alone or for powering the car plus household. Let’s break down what these things cost.

The Electric Vehicle Supply Equipment: $200-$1,000+

Plug-in vehicles today typically come with the ability to charge at home on standard household current, 120 volts, which is called Level 1 charging. They also can charge on faster 240-volt circuits, called Level 2 charging.

If the vehicle has a small battery, under 10 kWh, you can often make do with the Level 1 charging system that comes with the vehicle. For plug-in cars with larger batteries, Level 2 is your best bet for overnight charging and quick top-ups.

Most automakers with plug-in vehicles in their lineups have a preferred charger provider, but there are dozens of companies selling EVSEs. A search online will help you find the features, power output and pricing that best suit your need. Just search for “EVSE” or “EV home chargers.” Prices for quality Level 2 home systems can range from just under $200 to more than $1,000 before installation.

Cost of Installation: $800-$1,300

Installation costs for EVSEs vary by region, depending on such factors as local labor rates, materials used, and government permit costs and requirements.

The biggest variable is permit costs, said Ken Sapp, general manager of Qmerit’s Energy and EV Solutions unit. The Southern California company specializes in connecting homeowners with qualified EVSE installers throughout the U.S.

Nationally, average costs for a home EVSE installation with a short and uncomplicated 10-foot wiring, which runs from the electrical service box to the charging station, range from $800 to $1,300, Sapp said.

The costliest region is the Western U.S., where installation can run from $950 to $1,300. It’s least expensive in the Central U.S. states, at $800 to $1,100. Costs in the Southeast states can range from $850 to $1,150, while Northeast costs run from $900 to $1,200.

The Costs of a Solar System: $7,000 and Up

Unless you’ll be charging electric cars for many years to come, it can be difficult to make an economic case for installing a solar system just to serve your EV.

In the Los Angeles area, a 1-kilowatt solar system produces an average of 4 kWh of power per day. A Chevrolet Bolt, which is EPA-rated at 29 kWh/100 miles and is one of the more efficient EVs available, would need at least a 3.6-kW system to get 50 miles of range per daily charge. Such a system costs about $7,000 and doesn’t include the cost of a storage battery to hold power for overnight charging. That feature could double the cost. Put another way, a $7,000 system would purchase over 134,000 miles’ worth of power for a Bolt, assuming a rate of 18 cents per kWh.

Solar starts to make more sense if you install a system capable of providing electricity for the household as well as the EV. Upfront costs of owning a solar system outright can be steep. But on average, a properly sized whole-house solar system will pay for itself over about seven years and will last for at least 25 years. Costs are largely dependent on the size of the system, regional labor rates, the quality of the solar panels and power inverter used, and the complexity of the installation.

The national average installed cost of a 6-kW system is $12,920, or $2.15 per watt, after applying the 30% federal tax credit, according toEnergySage, a Boston-based service that links homeowners with solar system providers across the country.

The range across the country varies from $11,144 to $14,696. In California, a 6-kW system can run from $12,000 to more than $15,000 after the credit. There are a number of solar system financing and leasing programs, and some utilities also offer incentives.

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