Teslanomics Breaks Down Monthly EV Charging Costs
One of the most asked questions by those planning to purchase an EV … How much will it affect my electric bill?
This becomes somewhat of a loaded question when you consider the variables. First of all, electricity isn’t the same price in every market, and oftentimes even the time of day that you charge can affect the price. Next, the range that you get out of your vehicle is affected by how you drive, and also by the weather/temperature, and terrain. Finally, the most obvious factor relates to how many miles you drive in a given month.
Ben Sullins of Teslanomics uses his usual graphs, charts, and an interactive calculator to help answer the question easily. You can simply choose your state, driving style, and the number of miles, and it calculates for you. You will need to tweak it a bit if you happen to do all of your driving in a frigid cold, mountainous area, but it will get you pretty close.
You can look up state charging costs at the U.S. Energy Information Administration’s website. Ben also used information from Teslab (makers of the Teslab app, which tracks your driving data) to figure out how driver behavior affects range.
Ben says that the average cost per month to charge a Tesla in the U.S. is just over $49. However, in some areas, especially if you drive your car hard, you could pay upwards of $100 per month.
Video Description via Teslanomics by Ben Sullins on YouTube:
The cost of vehicle ownership goes well beyond the cost of a car itself. While the cost of buying a Tesla may be higher than purchasing the average car, powering your electric vehicle can be much more cost effective than “gassing” up. In this week’s episode, we explore just that. Learn more about the costs of charging a Tesla.
Breaking it down even further, we considered Tesla charging costs by location. We took into consideration the costs not only by state, but by provider. Electricity pricing trends can also impact price – and those prices can vary from by electricity company.
On average, the cost to charge a Tesla per month in the US is around $49. Based on our Tesla charging price data, the high end of the EV charging spectrum is around $70 a month in Hawaii. While the low end of spectrum is around $31 a month in Washington state.
The cost of electricity isn’t the only factor in the price per month to charge your Tesla. How you drive and how far you drive will also factor into how much you’ll spend per month to charge your Tesla. Our friends at Teslab provided us with data into how driving style and mileage effects the monthly cost of Tesla ownership.
Over at Teslanomics.co, we’ve created a Tesla charging cost calculator. This EV charging cost calculator can help you determine how driving style and millage may affect your estimated monthly cost. Choose your state, style and mileage and get your estimate cost as well as how it compares to the average. These costs are something you may want to consider in determining if an electric vehicle – or Tesla – is right for you.