EV owners are given two choices when it comes to keeping their vehicle charged. They can rely mostly on public charging stations or invest in home charging infrastructure. If you’re wondering which is the more economical option, the data is clear. Here is everything you need to know about whether you’ll save money charging your EV at home.
The Average Cost of Charging
To make a proper comparison between home and public EV charging, you’ll need some data first. Here are the cost averages we’ll use for our comparison.
Public EV Charging Costs
The average cost of public chargers in Mooresville, NC, per kWh, can vary. One reason is that different network operators charge different rates. Additionally, some require memberships or offer discounts to members. Many operators, like Tesla, charge congestion fees of up to 50¢ per minute during busy times.
For the purposes of our comparison, we’re going to be generous and use the most recent data from AAA. According to their research, the average public EV charging station in North Carolina costs users roughly 35¢ per kWh. We’ll also assume that the average resident of Mooresville goes out of their way to use public chargers during off-peak hours. Likely, that rate is less than you’d end up paying in the real world.
Home EV Charging Costs
When you charge an EV in your Mooresville home, you’ll do so while paying your customary residential electricity rate. At the time of this writing, the average homeowner here pays approximately 14¢ per kWh for electricity.
Average EV Range per kWh
Just as cars with internal combustion engines operate at different efficiencies, EVs do too. So, your mileage per kWh will vary, depending on the EV you own. A high-end EV might deliver four miles of range per kWh of electricity consumed. An older EV might deliver only about 2.5 miles per kWh. Again, we’ll use an average range of 3 miles per kWh, which most EVs for sale in the US today should achieve.
Miles Driven per Day
The next piece of necessary data is how many miles the average Mooresville resident drives each day. According to US News and World Report, the average resident has a 20-mile commute to work. That translates to 40 miles of driving each weekday. On top of that, we’ll add in about 10 miles of driving for non-work purposes, like grocery shopping. On weekends, we’ll assume that local drivers drive around 25 miles each day for recreation. That brings the total average weekly mileage to 300 miles.
The Final Calculation
At this point, you can probably already see where this is heading. Using our data, we can see that charging an EV using public chargers will cost an average of $35 per week here in Mooresville. If you charge at home, it will only cost $14. That difference can add up in a hurry. In just one year, you’d spend $1,092 more by relying exclusively on public charging for your EV. That’s enough money to cover the average cost of installing a Level 2 EV charger in your home.
A Level 2 EV charger can charge the average EV overnight from a fully depleted state. So, installing one means you’ll get to start every day with a full battery. Additionally, you’ll never risk finding your home charger in use, unlike with public chargers. You can also keep your vehicle safe in your garage while it charges, rather than parking it in a lot where you can’t easily monitor it.
Quality Home EV Charger Installation
At this point, the value proposition of installing an EV charger in your home should be clear. If you’re ready to install one in your Mooresville home, Putnam Mechanical can help. We offer comprehensive electrical services performed by licensed, experienced electricians. We can handle every aspect of your EV charger installation. That includes service upgrades, panel upgrades, and new circuit installations, as necessary. We even offer financing options on approved credit to help you cover the cost of your project. So, if you’re interested in an EV charger for your Mooresville home, contact Putnam Mechanical today!
