How Much Does It Cost to Charge an Electric Vehicle (EV)

Electric and hybrid vehicles are becoming more and more popular for a multitude of reasons. From convenience, to environmental friendliness, to simply being the next "new thing", EVs and PHEVs are flying down the road with impressive speed. You may not hear them coming, but they may just pass you up! The biggest question though, is whether or not it is costly to charge a vehicle within your home. Let's take a look at the typical costs of charging your EV or PHEV.

Depending on the current cost per kWh (which ranges from around 10 cents to 14 cents), the typical cost per month to keep your electric vehicle charged will, on average, be around $30-$60 per month. Most people average around $55/month according to KBB.com, so it likely depends on how often you drive your car. Charging your car in parking lots when you are out shopping or eating versus your own home can also help save you some green while making the world a little more "green". Overall, it is much cheaper than filling up at the gas station.

Most EV batteries will last between 10-20 years. Although that seems like a wide range, most people don't even own their vehicles for more than 5 years, so replacement shouldn't be much of an issue unless you are planning to keep your EV for a long time or purchase a used EV or PHEV. In that case, you will want to discuss with your dealership if the battery has been or should be replaced and what the current health of the battery is.

Every time you charge your battery, you put stress on it. This results in the capacity of the battery being reduced by a fraction. To extend the battery life and avoid this compounding over time, you shouldn't charge your battery overnight. Staying between 20 and 80 percent will help extend the life of your battery. The lithium-ion battery is designed to store large amounts of energy with a charge that ebbs and flows. However, frequently draining the cells too often or filling it up fully can, over time, reduce the battery's capacity as a whole. If you need to leave your vehicle for a long while and also need to charge it, there are smart charging stations that you can set to this range and ensure that your battery doesn't go beyond these limits.

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