In this blog article, we will explore the different factors that affect the cost to charge an electric car and provide you with tips on how to calculate and reduce it.
Before we dive into the factors affecting the cost to charge an electric car, let’s briefly go over the basics so that we are all talking about the same thing.
Now that we have covered the basics, let’s talk about some factors affecting the cost to charge an electric car:
The cost of electricity varies depending on the location, provider, and time of day. To get a better idea of how much it will cost to charge your electric car, check with your local electricity provider to find out their rates. Some providers offer different rates depending on the time of day or if you have a specific electric vehicle charging plan. Utilizing public charging stations can also vary in cost depending on the provider.
The size of the electric car’s battery affects the time and cost to charge. The larger the battery size, the longer it will take to fully charge and the higher the cost will be. On average, it costs approximately $6-$8 to fully charge an electric car with a 60kWh battery
The charging speed is another factor affecting the cost to charge an electric car. There are different charging speeds for electric cars, with the fastest being a DC fast charger. Although DC fast charging can provide an 80% charge in as little as 30 minutes, it can be more expensive than other charging types. Charging at a slower rate, such as with Level 1 charging (plugging into a standard 120-volt wall outlet) or Level 2 charging (240-volt), typically has a lower cost per kWh than DC Fast Charging.
The frequency and duration of charging your electric car will also impact the cost. The more often you charge your vehicle, the higher the cost will be. Similarly, if you leave your car charging for longer than necessary, you’ll be paying more for electricity you don't need. Try to charge your vehicle when necessary and as needed, especially if you have peak charging hours, time them to correspond with off-peak hours.
The age and condition of the battery can also affect the cost to charge an electric car. As batteries age, their charging capacity decreases. This means your electric car may require more energy per mile, and more energy to charge as the battery condition degrades. Ensuring battery maintenance and proper charging recommendations can help to preserve your battery's condition and charge efficiently.
Now that you have a better understanding of the factors impacting the cost to charge an electric car, here are some tips to help reduce the cost:
Owning an electric car is undeniably cost-effective and environmentally conscious. By understanding the factors that influence the cost to charge your electric car and following the tips outlined, you can make informed decisions to reduce the overall cost of ownership.
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