Charging Speeds and Costs
- Level 1 Charging (Slowest): This is typically done using a standard household outlet and is the least expensive option for charging at home. However, it is very slow, taking about 24 hours to fully charge a typical EV battery.
- Level 2 Charging (Moderate): Level 2 charging uses a 240-volt charging station and is faster than Level 1, taking about 4-6 hours for a full charge. Public Level 2 charging stations cost about $1 to $5 per hour, translating to $0.20 to $0.79 per kWh depending on the network and location.
- Level 3 (DC Fast Charging): This is the fastest public charging option available, capable of charging most EVs to about 80% in under 30 minutes. The cost of DC Fast Charging is generally higher, ranging from $0.25 to $0.79 per kWh or charged by the minute, where it can be $0.25 to over $1 per minute.
Factors Affecting Charging Costs
- Electricity Rates: The cost of electricity varies by location and time of day. Charging during peak hours can be more expensive due to higher rates.
- Charging Station Fees: Public charging networks like Electrify America and EVgo charge differently based on location and whether you’re a member. Discounts are often available for members or through specific plans.
- Charging Efficiency: The efficiency of the charging process can also affect costs. Modern EVs and charging systems are designed to minimize energy loss, but factors like the charger’s efficiency and ambient temperature can influence costs.
Overall Impact on Cost
In general, the faster charging method used, the higher the cost per mile. For example, 100 miles of driving might cost about $4.45 at home but could be $14 to $21 using fast public charging. While public fast charging is convenient for long trips, relying solely on it can significantly increase annual charging costs compared to home charging. Therefore, balancing the speed of charging with cost considerations is crucial for EV owners.
Original article by NenPower, If reposted, please credit the source: https://nenpower.com/blog/how-do-different-charging-speeds-affect-the-overall-cost-of-charging-an-ev/
