How Much Does It Actually Cost to Charge an Electric Car in 2022?
Are you considering switching to an EV? There are various ways to charge an electric vehicle, but the costs can vary based on several factors. Below is the cost to charge an electric car in 2022 at home and a public charging station. You should be able to determine your cost by identifying your state and how many kilowatt-hours your electric car is rated for.
How much does it cost to charge an electric car in 2022?
The cost to charge an electric car in 2022 varies from state to state and even throughout the day. However, there are a few ways to determine how much it costs to change an electric car. One way to do that is by finding out how much electricity is in your area.
The U.S. Energy Information Administration (EIA) has a chart with the average price of electricity in every state. This gives you the costs, per kilowatt-hour, for residential, commercial, industrial, and transportation sectors. In August 2022, the average price of electricity in New England was $0.25 per kWh. Connecticut was $0.26 per kWh, but Vermont had the lowest cost at $0.20 per kWh. Hawaii has one of the highest costs in the nation at $0.45 per kWh.
Now you take the kWh rating from the electric vehicle. For instance, the Ford Mustang Mach-E is rated for 70 kWh/100 miles. Take the $0.25 and multiply it by whatever your EV is rated for, 70 kWh in this case. That works out to about $0.17 per mile. If you drive 1,000 miles a month, that will cost you about $170.
The cost to charge an electric car in 2022 is cheaper at home
Most EV drivers will eventually elect to charge at home if that is an option. Home charging has many benefits, such as charging when electricity is less expensive. Installing a home charger might cost around $1,000 to buy the charger and get it installed. You can schedule the charging to happen overnight when electricity is less expensive, which can also save money.
While we used $0.25 before, the EIA says the average cost of electricity is around $0.15. Kelley Blue Book gives a good example. Say you drive 1,183 miles a month, and your electric vehicle uses about 394 kWh in the same period. That costs about $59 a month to charge your electric car in 2022.
Public EV charging stations are always an option
There are more public electric vehicle charging stations around than ever before. While you don’t need a subscription to use one, it can be cheaper in the long run. If you check the PlugShare map, you can find the charging price before going.
The average price is $0.43/kWh for charging up to 350 kW. Those with an Electrify America Pass+ account pay $4 monthly and only $0.31/kWh. EVgo stations show a per-minute charge of $0.30 with a $0.99 to $1.99 session fee. Those with the $4.99 a month EVgo plan get a $0.27 per minute charge with no session fees. The $6.99 a month EVgo Plus plan charges only $0.24 a minute with no session fees.
Depending on whether you have a subscription to either company, you can anticipate spending between $10 and $20 for a charge. You will probably want to map out the most convenient stations around you to see which would benefit you the most.