For the bigger picture, you should also include the amortized cost of buying and installing a home charging station and the rates your utility company charges.
Here’s how to calculate what it will cost to charge your EV, as compiled by industry experts.
IN: KILOWATT-HOURS PER 100 MILES, OUT: MPG
When you’re shopping for a gasoline-powered car, you pay attention to how many miles per gallon it gets. For plug-in vehicles, the window sticker and the government’s fueleconomy.gov website will have a big EPA-estimated mpg equivalent figure. But this isn’t a useful metric for determining cost. A battery stores energy in kilowatt-hours, much like a gas tank stores fuel in gallons.
Instead, look for the amount of energy an electric car consumes, which is measured in kilowatt-hours per 100 miles (kWh/100 miles). This value tells you how much energy in kilowatt-hours a vehicle would use to travel 100 miles. Note that this is just the government’s estimate; your EV’s actual consumption can vary because of your driving style and environment.
COST FOR CHARGING AT HOME
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