“The cost of charging EVs are significantly cheaper than filling up your regular car. However, several aspects such as location, charger levels affect the total charging cost.”
While the cost varies surprisingly depending on where, when, and how you charge, it is sure that the overall cost is considerably less than running an internal combustion engine car. The capacity of an electric car’s battery is expressed in kilowatt hours (kWh), which is a measure of the energy storage available in the cells. For example, a KIA Niro EV packs a 64kWh battery. So, to calculate how much it costs to charge your vehicle, simply, you need to look at the cost of electricity (either at a public charging point or your home supply) and do the calculation.
As of simple terms, the formula is: Size of battery (kWh) x Electricity cost of your supplier (pence per kilowatt hour) = Cost to charge an electric car from absolutely empty to full.
For example: KIA Niro EV has a 64 kWh battery (kWh = kilowatt Hour). The cost per kWh of electricity is €0.17 (sample cost, depending on a supplier), so the cost to charge the e-Niro battery from 0% to 100% is 64 kWh X €0.17 = €10.88
Assuming you have a garage and/or access to the power grid, charging electric car at home is the most convenient and cost effective way to recharge an EV. It costs about $10.50 for keeping your car fully charged . Called Level 1 charging, it takes between 8 to 24 hours to obtain a full charge, using a basic 110-volt charging unit which plugs into a standard electric outlet. However, spending around $250-$400 to have an electrician installing 240-volt lines in your garage will take advantage of Level 2 charging which can restore a drained battery in as little as four hours. The electric vehicle service equipment (EVSE) will be also needed as an external Level 2 charging unit, which can cost between $300 and $1200. The cost of electricity is much more stable than the price of gasoline. Be aware to check the electricity supplier and the plan you use in your area.
LEVEL 2. PUBLIC CHARGING
1 Hour of Charge - 30 km of Driving Range
Level 2 public charging is often called as a destination charging. It is a great solution, if you plan to stay at your ‘destination’ for several hours. The costs of charging your electric car at a public charging station can differ depending on the station’s owner. Some Level 2 public charging places are free-to-use, while other stations are pay-per-use, charging a fee, such as a start rate, a rate per minute and/or a kWh-rate. The average cost for pay-per-use is $1.00/Hour or $2.50/Charge. Typically, public charging stations charge $0.11 to $0.15 per kilowatt-hour or $2 to $8 for a complete fill up. You will find units installed in areas where there is a higher concentration of electric vehicles, retailed parking lots, public parking garages, and near larger cities. You can either use a credit card being on a pay-as-you-go basis, or through an account with a charging network.
LEVEL 3. PUBLIC CHARGING
1 Hour of Charge - 250 km of Driving Range
A far quicker, upgraded alternative of standard Level 2 public charger is Level 3 public charging station, also known as DC Fast Charging (DCFC). It brings a given electric vehicle’s battery up to 80% of its capacity in around 30 to 45 minutes. Most Level 3 charging stations are pay-per-use and most of them bill by the minute for an average cost of $15/Hour. It is available near metropolitan areas. Unfortunately, Level 3 charging is the costliest, while it is the fastest way to charge an electric vehicle.
Not all EV batteries are created equal. The types of electric cars you purchase have different battery capacities, and in some cases, the same car can come with a choice of battery capacity. The larger the battery, the more electricity it will hold and the more it will cost to charge it. In short, the type of your electric vehicle determines the time and cost to charge the battery.