Electricity rates for EV charging vary significantly by location, time of day, charging type, and provider, resulting in a complex pricing landscape.
Variation by Location
- Home Charging: The average cost in the U.S. for charging an EV at home is roughly 15.95 cents per kWh, leading to an approximate monthly cost of $64.12 for typical household driving needs. This cost can fluctuate depending on local residential electricity rates, which vary by state and utility provider.
- Public Charging: Public charging stations often have higher rates than home charging. For example, Level 2 public chargers typically charge between $0.20 to $0.25 per kWh, or $1 to $5 per hour, depending on the station and location. Fast DC chargers can be even more expensive, ranging from $0.40 to $0.60 per kWh. A full charge on a 40 kWh battery might cost $8 to $10 at a Level 2 public charger and $16 to $24 at a DC fast charger.
- Charging Network and Region: Pricing also varies widely depending on the charging network and local energy market costs. Urban areas and states with higher electricity costs tend to have higher public charging prices, and some municipalities or businesses may offer free charging, though these stations tend to be busy and less reliable.
Variation by Time of Day
- Many utilities implement time-of-use (TOU) rates that charge different rates based on peak and off-peak hours, reflecting the cost of electricity generation and demand.
- Charging an EV during off-peak times (typically overnight) can be significantly cheaper than during peak demand hours.
- Public charging providers may also implement pricing schemes that vary by time of day and demand, though this varies by network and region. Some DC fast chargers price per minute and adjust rates based on power delivered and time, potentially charging more during peak demand periods.
Summary
| Charging Type | Typical Cost Range | Influencing Factors |
|---|---|---|
| Home Charging | ~$0.16/kWh; approx. $64/month for average use | Local utility rates, TOU pricing |
| Public Level 2 | $0.20 – $0.25 per kWh or $1 – $5 per hour | Location, network, time of day, charging duration |
| Public DC Fast | $0.40 – $0.60 per kWh; $10 – $30 per full charge | Location, charging speed, demand, network policies |
In conclusion, EV electricity rates depend heavily on where and when you charge, with home charging generally being the most economical, especially if done during off-peak hours. Public charging costs tend to be higher, particularly fast charging, and show greater variability by location and time.
Original article by NenPower, If reposted, please credit the source: https://nenpower.com/blog/how-do-electricity-rates-vary-by-location-and-time-of-day-for-ev-charging/
