Few people know what a kilowatt-hour costs them, so they don’t realize how cheap EV home charging is versus gasoline. On the road, it's more complicated. We help you sort it out.
Calculating the cost of charging an electric vehicle, at home and on the road, can be complicated. For the four out of five new-car buyers who can charge at home, often overnight, the cost per mile is virtually always cheaper than the cost of gasoline for a similar vehicle. It's tougher for apartment dwellers, who may pay a variety of rates to companies that operate charging stations in shared parking areas. For DC fast-charging, which a driver will likely want to use on road trips that are longer than an EV's range, prices vary, but are often roughly in line with gasoline prices.
Because of these factors, the price of a full charge can vary considerably. For a Tesla Model Y, currently the bestselling EV, it could cost as little as $9 or as much as $40, depending on whether you're charging at home or at a far more expensive Level 3 fast-charger.