It’s an exciting time to own an electric vehicle. Technology is advancing at a record pace, and automakers are eagerly introducing new hybrid and electric models to product lineups. Tesla has been leading the way in this industry for years now.
Before signing on the dotted line, it’s important to understand what it will cost to charge a Tesla. You don’t want to commit to reducing your carbon footprint until you know how to determine the cost-savings benefits.
So, grab a calculator and follow along as we show you the easiest way to figure out what it will cost to charge a Tesla.
How to determine the cost of power consumption
All vehicles have an associated cost for the fuel that is required to power them. To calculate the amount for gas-powered cars, take the number of miles driven, divide it by the vehicle’s estimated MPG, and multiply the result by the price of gas per gallon.
A different formula is used to determine the cost of powering an electric vehicle. The price per kilowatt hour (kWh) for electricity is used instead of the price per gallon of gasoline. Also, miles per kWh are used instead of miles per gallon.
Electric vehicles do not burn gasoline, but the EPA still uses the term MPGe, miles per gallon equivalent, to rate the power consumption. The U.S. Department of Energy uses the term eGallon for comparing the cost of using electricity to power a vehicle compared with a similar model that requires gasoline.
The amount of electricity needed to travel the same distance as a gas-powered car is multiplied by the average kWh hour to determine the eGallon average cost.
Choose Energy determined that, on average, it costs 49% less to charge a vehicle than it is to use gasoline. The widest eGallon gap is in Washington, where it costs $1.92 more per gallon to fuel a car.
The average cost to charge a Tesla
The average household cost of electricity of $0.13 per kWh is used. Lasting 360 miles on one charge, the cost per mile is approximately $0.042 per mile or $4.24 per 100 miles driven.
Using the same calculations, a Tesla Model 3 with a 50 kWh battery and 263 miles of range will cost $7.65 for a full charge. The cost per mile is approximately $0.03 or $2.91 per 100 miles.
The Tesla Model S Long Range variant runs 412 miles on one charge, costing $15.29. The cost per mile is $0.037 or $3.70 per 100 miles. The cost to charge the battery on the new Tesla Model Y is $11.47. It is equivalent to $0.047 per mile or $4.70 per 100 miles.
It’s important to note that these figures are just estimates and that charging costs may fluctuate based on the type of charger, the actual cost of electricity, and the battery level before charging.
What are the different ways you can charge a Tesla?
Ever since the advent of electric vehicles, consumers have been debating the cost-saving benefits of driving a greener car. The cost varies depending on the type of vehicle and how it is used.
Most electric vehicle owners opt to recharge their vehicles in their driveways or garages using a home charger. A solar power system installed in the home can reduce the charging costs by as much as 35%.
Supercharger stations are located throughout the country and offer a convenient way to recharge, especially when traveling long distances. It takes approximately 50 minutes to charge a Tesla in an urban center, according to the company.
The cost to use these supercharger station will vary from location to location. But in general, it appears that the cost of charging a Tesla will almost always be lower than filling up a car with gas.