Is It More Cost-Effective to Install a Home Electric Car Charging Station or Use Public Charging Stations?

The Cost of Home Charging Stations

The cost of a home charging station can vary depending on the type of station you choose. Typically, the cost ranges from $600 to $1,500 for the station, and an additional $300 to $500 for installation. While the upfront cost may seem steep, there are several advantages to having a home charging station:

• Convenience - You can charge your car every night without having to travel to a public charging station.
• Cost-efficient - The cost per kWh of electricity is generally cheaper when charging at home compared to public stations.
• Time-saving - You don't need to wait in line to charge your vehicle.

Cost of Charging at Public Stations

The cost of using public stations varies and can range from free to $0.35 per kWh. Many public stations also charge a fee for using their station. Advantages of using public stations include:

• Accessibility - Charging stations are located throughout the city making it easier to find a charging station.
• Cost-free - In some cases, public stations are free to use, which can generate significant savings compared to home charging stations.
• Variety of ports - Public stations have multiple ports that will most likely suit the charging port type of a large portion of the electric vehicles

Which Option is More Cost-Effective?

When calculating the cost, it's a good idea to compare the charging rates of both options in your area, and then consider the frequency of charging. Charging at home will have a relatively modest cost when using any reputable energy company in the US mainland, from which some of us get services regularly anyway. When completely draining the battery at the charging station, the rate is usually comparable. However, the costs can add up over time.

Considering the average ownership span of electric vehicles being about 5 years, charging almost daily will ultimately result in significant expense, especially if public station prices are applied. On the other hand, installing a charging station at home for only $1,000, which would pay off in savings from public stations as early as the inception point of your electric vehicle investment, might be a better investment for electric car owners in the long term.

Conclusion

In conclusion, while public stations may be more convenient for one-time recharges while out and about, deploying a home charging station will undoubtedly generate substantial savings in the long run as the primary means of charging for electric vehicle owners. Deploying a device capable of quickly charging batteries that has no expenses attached is a more cost-effective option for consumers who drive electric vehicles.