What is the Cost to Charge an Electric Vehicle?

You compare electricity plans to get the cheapest electricity rates for your home. Your electricity bill grows with the ever-growing number of electric and electronic devices. And the latest addition is an EV or electric vehicle. And if you are planning to buy one, you should know the cost of charging an electric vehicle at home or outside. 

A fast way to calculate the EV charging cost is to multiply your car battery storage (kWh) by the price per kWh in your electricity plan. The charging points available in the public place have their own fixed price per kWh. 

Green energy revolution 

Being an owner of an EV itself means that you are an environment lover and want to do your part to contribute. But, what about the electricity that you are using to charge your EV? Is that electricity green enough? The answer lies in different electricity plans. While you compare electricity plans in your area, also see how much percentage of green electricity [1] the suitable plan is providing. Some companies offer 100% green electricity which is produced by using renewable energy. 

How and where to charge your EV

Before discussing how much it will cost to charge your EV, it is important to know where to charge your EV. 

Wall sockets at your home

The first and the simplest way to charge an EV is the electrical wall socket installed in your home or garage. The wall socket at home provides 2.4kW of power per hour and to fully charge your EV can take as long as 24 hours.

Dedicated home wall box

For your homes, you can get a dedicated home wall box. This provides a fast charging option for your vehicle. Depending on your car charger, you can opt for 3kW, 7kW, or 11kW charging output. This option reduces the charging time to 7 to 10 hours.

Public AC charging points

By August 2020 Australia had 1950 public AC charging stations [2]. These AC stations give a power output of 7kW to 22kW in an hour and it may take between 4 to 7 hours to fully charge your car.

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Public DC charging Points

Public DC charging points provide fast charging for your cars. These points have a power output ranging from 25kW to 150kW per hour and can charge a car battery fully in about 2 hours. Ultra-fast DC points that provide 350kWh power can charge the battery in less than an hour. Australia currently has 357 DC charging points. 

Cost to charge an EV in Australia

Home Charging cost

To calculate the cost of charging an EV at home, you need to know the electricity rate and the time you charge your car. Let us assume that you live in Melbourne and own a Nissan LEAF car. Electricity prices are $2.21/kWh for off-peak time and $0.50 for peak hours. Nissan LEAF consumes energy at the rate of 10kWh/ 100 km.

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So the cost of charging the EV at home will be $2.10 during off-peak hours and $5.00 during peak hours. So, to zero to full charge your car will cost you between $8.40 to $20 depending on the time you charge the car. It is important to note that charging the car during peak hours can double your cost. At the same time compare electricity plans from different companies and chose the plan that gives the cheapest rates during peak hours. 

Charging costs at Public stations

If you charge your EV at a DC public charging point, the costs can range from $0.40 to $0.45/ kWh. This cost further increases to $0.52/kWh at supercharging points provided by Tesla. 

[1] https://www.sciencedirect.com/topics/engineering/green-electricity

[2] https://www.statista.com/statistics/1181667/australia-electric-vehicle-charging-points-by-type/