There are no significant long-term cost benefits to using public fast charging stations over home charging for electric vehicles (EVs). In fact, public fast charging is generally much more expensive than home charging.
Cost Comparison: Home Charging vs. Public Fast Charging
- Home Charging Costs
Charging an EV at home typically costs around 15.95 to 16 cents per kWh on average in the U.S., which translates to roughly $64 to $72 per month based on typical driving (around 13,489 miles per year). The cost per mile for home charging is approximately 4 to 5 cents, making it quite economical. - Public Fast Charging Costs
Public DC fast chargers charge significantly higher rates, often between $0.40 to $0.60 per kWh, making a full charge cost $16 to $24 or more depending on battery size and location. On an annual basis, relying exclusively on public DC fast charging could cost between $1,540 and $2,300, or approximately 10 to 15 cents per mile, which is about three times as expensive as home charging. - Public Level 2 Charging (Slower than Fast Charging)
Even public Level 2 charging, which is slower than DC fast charging, costs more than home charging—between $0.20 and $0.25 per kWh—and would cost $770 to $963 annually for typical driving distances, still significantly more than home charging.
Other Considerations
- Public fast charging is most beneficial for convenience during travel or when away from home, but it is not cost-effective as a primary charging method.
- Some free public chargers exist but are often limited by availability and reliability, making them an unreliable sole charging source.
- The long-term financial advantage clearly favors home charging due to lower electricity rates and the convenience of charging overnight.
Summary
| Charging Type | Cost per kWh | Cost per Mile | Annual Cost (13,489 miles) |
|---|---|---|---|
| Home Charging | ~$0.16 | $0.04 – $0.05 | $506 – $720 |
| Public Level 2 | $0.20 – $0.25 | $0.06 – $0.08 | $770 – $963 |
| Public DC Fast Charging | $0.40 – $0.60 | $0.10 – $0.15 | $1,540 – $2,300 |
Based on this, public fast charging stations do not offer long-term cost benefits compared to home charging; they are substantially more expensive and best used for occasional fast recharging rather than daily reliance.
Original article by NenPower, If reposted, please credit the source: https://nenpower.com/blog/are-there-any-long-term-cost-benefits-to-using-public-fast-charging-stations-over-home-charging/
