Cost of Charging an Electric Vehicle

The cost of charging an electric vehicle is much cheaper than filling your tank with petrol, diesel or gas. So, forget miles per gallon (MPG), now it’s kilowatt-hours (kWh) per 100 miles. Today’s market has many different chargers, charging stations and charging networks to offer which are expanding daily. In addition to many different electric vehicles to choose from. All things considered, how much does it actually cost to charge an EV? There are many factors which determine the exact cost of charging an electric car battery: Local rate of electricity, battery capacity of your car, fast or rapid charging type and whether you choose to charge home or in public.

Cost of Charging Electric Vehicle at Home

Firstly, when it comes down to the cost of charging an electric vehicle, home charging is the cheapest method. Especially when charging in off-peak hours (if your contract allows it). Since with home charging you will pay no extra fees, only for the electricity used. As a result, you can reduce your charging cost by 24 percent. That’s ofcourse, once you have paid the slightly hefty upfront cost of purchasing the charging station, and a certified electrician has installed your wallbox.

It’s simple to estimate the cost of charging your specific electric car. You will need to multiply your electricity cost kWh/100 miles by your current electricity rate. Car Battery Size X Electricity Provider’s Cost Per kWh (KiloWatt-Hour). Although, make sure you note the electricity rate in the time you are most likely to be charging in. 

*Electricity rates were taken from Household Energy Price Index, 2022, February 1st. Please note energy prices may vary, to find out your current cost per kWh, check with your electricity provider.

Above, is a list of local rates of 10 different countries. Since charging cost varies with each specific car model’s battery capacity. We have included the cost of fully charging the Nissan Leaf with an average battery capacity, along with the price to charge a Tesla model S with larger battery capacity.

Cost for Home installation

Charging at home cost also includes the fee of home installation and charging station. Another potential option is a home solar power system, which is zero emission and would reduce your monthly bills. Home charging stations (EVSE, electric vehicle supply equipment) can cost from €450. You will need a certified electrician to install, it’s best to email local electricians for an estimate price.

Be aware, that no matter how much you pay per kWh for electricity at home, in the colder months it will be more expensive, due to cold weather conditions affecting electric car battery’s ability to charge. All in all, with all of installation fees and EVSE, to install a charging station at home will cost from €1,500.

Cost of Charging an Electric Vehicle in Public

The cost of charging electric vehicles in public it is more expensive than home charging. Since the price is not just the local electricity rate, but a set rate including services. Fees set by the electricity mobility service providers (eMSPs) for connection, energy, parking and time fees. Even so, it’s not all bad since public charging is often faster than charging at home and still way cheaper than petrol.

Since fees at public charging stations are fixed individually, public charging costs vary from provider to provider. Some public charging stations will offer free charges or incentives. For Rapid charging, level 3 you can charge your EV upto 80% in 30-60 minutes. These charging stations are available in city areas and are more expensive charge. For fast charging level 2, (5 – 6 hours to 80%) price in following countries is shown below.

TOP TIP for EV Charging: For longer journeys be sure to use apps such as Plugshare or Betterrouteplanner to make sure no wasted journey is made finding a top up charging point.

*Prices shown are based on fast charging, level 2. Prices are averages calculated from real time charging stations and can change according to local electricity rates.

Depending on the model, the price for charging will change, so here are two models with hugely different battery capacities shown for reference. Here you can see price of average cost of charging for the Nissan Leaf, compared with the Tesla S model.

Charging Incentives

Finally, keep up to date with electric vehicle news, there are many government, commercial and residential incentives for electric car owners. These incentives greatly reduce installation cost, charging and even with the upfront cost of electric car model. For example:

Denmark– Tax reduction of around €0.13 per kWh applies to companies that provide EV charging.
Finland– A refund of up to 35% of total costs for charging infrastructure is available to companies that provide charging stations.
France– Tax credit up to the value of €960 is available to residents for the purchase and installation of an electric vehicle charging station.
Germany- All residents can apply for a €900 grant for the purchase and installation of a charging station at home.
Norway- From 2022 all cars need to be zero emission.
Sweden- A grant contributes 50% of costs is available to individuals installing a charging station at home.
UK- A voucher scheme that covers 75% of purchase and installation costs.

All in all, many of these incentives available will greatly reduce your cost of charging an electric vehicle. Happy charging!

• Instagram
• Facebook
• Twitter
• LinkedIn
• Reddit

3rd October 2022