Charging an electric vehicle (EV) isn't always as simple as filling up a gas tank. Many drivers find that calculating the cost of charging their EV can be a bit of an enigma. While we know that EVs are more environmentally-friendly and cost-effective in the long run, it can still be challenging to determine exactly how much we are spending to power our ride.

In this article, we will discuss how to accurately calculate the cost of charging your electric vehicle and highlight some essential factors to keep in mind to make sure your calculations are correct.

Factors to Consider when Calculating Charging Costs

• Battery Size: How big is your EV battery? The size of your battery impacts how much electricity you will need to charge it fully.
• Total Electric Usage: What is your average daily electric usage at home? How many kW hours do you use each day?
• Electric Rate: How much do you pay per kW hour? Different utility companies charge different rates for electricity. Make sure to verify your rate with your energy provider.
• Charging Time: How long does it take to charge your EV fully?
• Charging Level: How powerful is your charging station? There are different levels of charging for EVs, and each station offers a different charging rate (measured in kW).

Calculating Cost at Home

The most straightforward way to calculate the charging cost is to use this formula:

(Battery Size ? Total Electric Usage) ? (Electric Rate ? Charging Efficiency) = Total Charging Cost

Let's break down this formula's components to understand the different variables you will need to calculate your EV charging cost.

Electric Rate

The electric rate is the cost of energy per kilowatt-hour (kWh) that you pay to your electricity provider. To find out your electric rate, check your monthly electric bill, or contact your provider directly. For example, if you pay 12 cents per kWh, your electric rate is $0.1

Charging Efficiency

The charging efficiency refers to the energy that goes into charging the battery compared to the energy that comes out. The charging efficiency of your EV can vary based on the battery technology and the vehicle model. Generally, EVs have an efficiency of around 85%, but some models have greater efficiency. For example, the Tesla Model S has been reported to have a charging efficiency of 90% or higher.

Battery Size

The battery size refers to the total capacity of the EV battery measured in kilowatt-hours (kWh). The larger the battery, the more energy it will take to recharge it fully.

Total Electric Usage

The Total electric usage is your average daily electric consumption at home, measured in kilowatt-hours (kWh). To find out your electric usage, you can check your monthly electricity bill or consult your electricity provider.

Sample Calculation

Let's assume:

• Your electric rate is $0.12 per kilowatt-hour (kWh)
• Your EV has a 60 kWh battery size
• Your total daily electric usage is 10 kWh
• Your charging efficiency is 85%
• Your charging station level is 4 kW
• Your expected charging time is 8 hours

Calculate charging cost:

(60kWh ? 10kWh) ? (0.12 ? 0.85) = $69.41

By using this formula and the provided variables, the total cost for charging an EV is $69.4

Public Charging Costs

Public charging stations charge their clients in two ways - per kilowatt-hour (kWh), or per minute that you have occupied the charger. The price for using a public charging station can differ in different regions and charging stations. For example, in California, public charging is usually estimated at $0.25-$0.35 per kWh, while a 30-minute DC fast charge could cost anywhere from $8 to $2 This is why many EV owners often opt for home charging stations, as they tend to be more cost-effective over the long run.

Conclusion

Calculating the cost of charging your electric vehicle accurately is essential to ensure that you know precisely what you are paying for. While the calculation can be complex, it is essential to have an understanding of the variables involved when calculating EV charging costs. By following the steps and variables we highlighted in this article, you will be better equipped to calculate charge costs both at home and in public charging stations.

Remember, always make sure you are checking the charging station's power level and charging rate-specific to your EV model, along with the electric rate and efficiency when calculating charging costs. With this understanding, you can derive the maximum benefits of owning an EV and make the most informed decision for yourself and the environment.

To delve deeper into the topic, follow this link: https://energy5.com/