As electric vehicles (EVs) gain popularity, one of the most common questions prospective owners ask is about the cost of charging an EV compared to fueling a gas-powered car. Understanding this price comparison can help you make an informed decision about switching to an electric vehicle. In this blog, EV Plug Pros, your trusted EV charger installation company in Golden, Colorado, will break down the costs and benefits of powering your vehicle with electricity versus gasoline.
The Cost of Charging an EV
Home Charging Costs
Charging an EV at home is the most convenient and often the most cost-effective method. Here’s a breakdown of what you can expect:
- Electricity Rates: The cost of electricity varies by region, but on average, the cost per kilowatt-hour (kWh) in the United States is about $0.13.
- Energy Consumption: Most EVs consume about 30 kWh per 100 miles. Therefore, if you drive 1,000 miles per month, you’ll use approximately 300 kWh.
- Monthly Cost: At $0.13 per kWh, charging your EV for 1,000 miles would cost about $39 per month (300 kWh $0.13/kWh).
Public Charging Costs
While home charging is typically cheaper, you may occasionally use public charging stations, which can be more expensive. Here’s what to consider:
- Pricing Models: Public chargers often have different pricing models, such as per minute or per kWh. Prices can range from $0.20 to $0.60 per kWh.
- Membership Programs: Many public charging networks offer membership programs that provide discounts on charging rates.
The Cost of Fueling a Gas-Powered Car
To compare, let’s look at the cost of fueling a gas-powered car:
- Gasoline Prices: The average price of gasoline in the United States is around $3.50 per gallon (prices can vary widely based on location and market conditions).
- Fuel Efficiency: A typical gas-powered car gets about 25 miles per gallon.
- Monthly Cost: For 1,000 miles of driving, you’ll need 40 gallons of gas. At $3.50 per gallon, this equates to $140 per month (40 gallons $3.50/gallon).
Comparing the Costs
Monthly Cost Comparison
– EV Charging at Home: $39 per month
– Gasoline for a Gas-Powered Car: $140 per month
Annual Cost Comparison
– EV Charging at Home: $468 per year ($39 12)
– Gasoline for a Gas-Powered Car: $1,680 per year ($140 12)
Savings
By switching to an EV and charging it at home, you could save approximately $101 per month or $1,212 per year on fuel costs alone.
Other Considerations
Maintenance Costs
EVs generally have lower maintenance costs than gas-powered cars. They have fewer moving parts, no oil changes, and less wear and tear on components like brakes. This can lead to additional savings over the life of the vehicle.
Environmental Impact
Switching to an EV also reduces your carbon footprint. EVs produce zero tailpipe emissions, contributing to cleaner air and a healthier environment.
Incentives and Rebates
There are various federal, state, and local incentives for EV owners, including tax credits and rebates for purchasing an EV and installing a home charger. These incentives can further reduce the overall cost of owning an EV.
Final Thoughts: Electric Vehicle vs Gas-Powered Vehicle
When comparing the cost of charging an EV with an EV Plug to fueling a gas-powered car, the savings are significant. Not only can you expect to pay less for electricity than gasoline, but you’ll also benefit from lower maintenance costs, environmental advantages, and potential incentives.
At EV Plug Pros, we’re here to help you make the transition to electric driving as smooth and cost-effective as possible. Our expert team in Golden, Colorado, specializes in residential and commercial EV charger installation, ensuring you have a convenient and reliable charging solution at home or your business. Contact EV Plug Pros today to learn more about our services and how we can help you start saving with an EV. Drive green, save money, and enjoy the future of transportation with EV Plug Pros!