What It Costs To Run And Charge An Electric Car

While they’re cheaper to run than their conventionally powered counterparts, some electric vehicles will save their owners more money bypassing the fuel pumps than others. The most frugal in this regard can cost owners an average of $500 a year to drive for 15,000 miles, based on their estimated energy consumption under ideal circumstances, while it can be twice as much with the least-efficient models.

As with any vehicle type, the larger and heavier a vehicle the more energy it requires to get and stay moving, and you may have noticed that many of today’s EVs, and especially the battery powered pickup trucks coming down the road, are fairly sizeable rides that are further weighed down by what are hefty battery packs.

Further exacerbating the matter is the fact that EVs are less efficient running at highway speeds than they are around town, and consume battery power faster in extreme temperatures; this can be anywhere from 25 to 40 percent fewer miles on a charge in cold weather with the heater running. Likewise an electric truck or SUV will go through kilowatts at a quicker rate when towing a boat or trailer. And the state-of-charge gauge reading drops quickly whenever drivers push the accelerator pedal to the floor to exploit an EV’s instant torque for rocket-like launches.

Here’s a list of the 10 most efficient electric cars according to their equivalent “MPGe” ratings and their annual cost to drive 15,000 miles in combined city and highway use, according to the Environmental Protection Agency, based on electricity at a national average of $0.13 per kilowatt hour.

1. Tesla Model 3: 132 MPGe ($500 annual fuel cost)
2. Lucid Air: 131 MPGe ($500)
3. Tesla Model Y: 129 MPGe ($500)
4. Hyundai Kona: 120 MPGe ($550)
5. Chevrolet Bolt EV: 120 MPGe ($550)
6. Tesla Model S: 120 MPGe ($550)
7. Toyota bZ4X: 119 MPGe ($550)
8. Kia EV6: 117 MPGe ($550)
9. Chevrolet Bolt EUV: 115 MPGe ($550)
10. Hyundai Ioniq 5: 114 MPGe ($600)

And these are the “kilowatt guzzlers” that consume the most energy, based on their EPA ratings, with applicable trims noted:

1. Audi e-tron S: 63 MPGe ($1,000 annual fuel cost)
2. Audi e-tron S Sportback: 65 MPGe ($1,000)
3. Ford F-150 Lightning Platinum: 66 MPGe ($1,000)
4. Rivian R15: 69 MPGe ($950)
5. Porsche Taycan Turbo S: 70 MPGe ($950)
6. Rivian R1T: 70 MPGe ($950)
7. BMW iX M60: 77 MPGe ($850)
8. BMW i4 M50 Gran Coupe: 80 MPGe (850)
9. Ford Mustang Mach-E GT Performance: 82 MPGe ($800)
10. Volvo XC40 Recharge: 85 MPGe ($750)

No matter which EV a given driver chooses, it will cost much less to charge at home than at public charging stations, which remain few and far between compared to gas stations. They can be charged via standard 110-volt wall outlets, known in the business as Level 1 charging, but it can take as much as 30 hours to fully replenish an extended-range model using this method.

A better way to go is to spend several hundred dollars to have an electrician install a dedicated 240-volt line in the garage along with so-called Level 2 charging equipment. It’s not cheap, but the added up-front costs will pay off in terms of much quicker charging times. Level 2 charging adds around 20 or 30 miles or more per hour, though charging times can run longer when the temperature turns cold. Most EVs can be replenished overnight via Level 2 equipment, which may garner a discount for drawing power from the grid in off-peak hours, depending on the provider. Some states offer programs to help make installing a home charging station more affordable, and Chevrolet is currently picking up the tab for those purchasing a new Bolt EV or Bolt EUV.

According to the EPA’s fueleconomy.com website, it will cost an owner $3.84 to drive a 2022 Chevrolet Bolt EUV for 100 miles at the aforementioned average electricity rates. By comparison, going that same 100 miles in a gas-powered subcompact Chevrolet Trailblazer SUV that gets 28 mpg will cost around $13.40 at average fuel costs.

Take note that the figures quoted are national averages for electricity and gasoline, with both varying—often significantly—from one state to another. The EPA’s website allows users to personalize the estimates with the local per-killowatt hour charges as noted on one’s electric bill. According to the website ChooseEnergy.com, Hawaii residents pay the most for electricity in the nation at $0.45 per kilowatt hour, followed by California ($0.29), Connecticut ($0.25), Maine ($0.24), and Alaska ($0.24). Power is cheapest in Idaho ($0.11), Montana ($0.12), and North Carolina ($0.12).

The American Council for an Energy Efficient Economy (ACEEE) maintains a interactive spreadsheet calculator that can help EV shoppers and owners compute operating costs in their states and compare them with equivalent conventionally powered models. Unfortunately, the ACEEE’s calculator doesn’t account for reduced rates that may apply for off-peak charging or seasonal variations in the electrical grid, but it’s valid for comparison.

Public charging, on the other hand, is a much costlier, and often less reliable, option. Public EV stations support either the aforementioned Level 2 charging or Level 3 charging, which is also called DC Fast Charging. You’ll even find some stations that offer both types. They’re typically installed in retail parking lots, public parking garages, and new-car dealerships in or near larger cities, as well as at many national parks and spots near busy interstate highways. EV owners can locate charging stations anywhere in the U.S. via multiple websites and smartphone apps.

The aforementioned Level 2 remains the most prevalent type of pubic charging, and given its rate of charge it’s best for “topping off” an EV’s battery while shopping, dining, or running errands (especially since some retail locations restrict parking to just two hours).

A quicker alternative is to use a Level 3 station, which is also called DC Fast Charging. Level 3 charging can bring a given EV’s battery up to 80 percent of its capacity in around 30-45 minutes, depending on the model and state of charge level. A few electrified rides, like the Porsche Taycan, can take advantage of quicker charging times, but only via a relative handful of specially equipped stations. EV owners planning a road trip will want to plan a route based on access to DC Fast Charge stations and, importantly, hope they’re available and in working order when needed.

Again, the costs to use public charging vary from one state and charging network to another, with the latter including ChargePoint, EVgo, Electrify America, and Tesla’s own Supercharger network. Some Level 2 chargers remain free to use, depending on the location and network, but all Level 3 units require payment, usually via a credit card per transaction or in advance. Some states allow networks to charge customers based on the kilowatt-hours (kWh) of electricity used, while others require providers to collect on a per-minute basis.

For example, the Electrify America network costs $0.43 per kilowatt hour in most states that allow DC Fast Charging by that formula (it’s $0.31 plus a $4.00 monthly fee for “Pass+” members). In states that dictate charging costs by time, being connected can cost as much as $0.32 per minute. According to the EPA’s figures, the average EV uses 34.7 kilowatts per hour to traverse 100 miles, which translates into $15 at the above per-kilowatt rate, versus less than $4.00 with home charging. Assuming it takes around four gallons of gas to drive the same distance, it would cost the average internal combustion car owner roughly the amount for petrol at the current national average of $3.70 per gallon for regular grade.

Of course, energy consumption is only part of an electric vehicle’s overall ownership costs. We compared up-front purchase prices in a previous post, and will be looking at how the current crop of EVs fares with regard to insurance, maintenance, repair, and depreciation, as well as operating ranges, in future installments.