When comparing the cost of charging an electric vehicle (EV) to the cost of gasoline for a gas-powered vehicle, several factors come into play. Here’s a summary of the key points:
Cost Comparison
- Electric Vehicle Charging:
- Cost Per Mile: On average, it costs about $0.05 per mile to charge an EV.
- Monthly Cost: Estimates range from approximately $39 to $70.72 per month when charging at home. This translates to about $468 to $848 per year, depending on driving habits and electricity rates.
- Charging on the Road: While home charging is generally cheaper, public charging stations can be more expensive, typically in the range of $0.20 to $0.75 per kWh, but this still often works out cheaper than gasoline costs per mile.
- Gasoline for Gas-Powered Vehicles:
- Cost Per Mile: Gas-powered cars typically cost around $0.13 to $0.15 per mile.
- Monthly Cost: On average, fueling a gas-powered car can cost about $140 to $158 per month, totaling around $1,680 per year.
Savings
Driving an EV can yield significant savings, especially when factoring in lower maintenance costs and potential government incentives. For example, on average, an EV might save you around $1,350 annually in fuel costs compared to a gas-powered car.
Considerations for Charging on the Road
While charging at home is generally more economical, public charging can be more expensive due to higher electricity rates at public stations. However, the overall cost per mile for EVs tends to remain lower than for gas-powered vehicles. Factors such as access to public charging infrastructure, electricity rates, and driving habits influence the cost-effectiveness of EVs.
In summary, charging an EV, particularly at home, is generally cheaper than fueling a gas-powered car. Roadside charging can increase costs but still often remains competitive with gasoline prices.
Original article by NenPower, If reposted, please credit the source: https://nenpower.com/blog/how-does-the-cost-of-charging-an-ev-on-the-road-compare-to-gasoline/
