After Installing a Home EV Charger, You May Find the process of Fueling Your Gas-Powered Vehicle to be Extremely Inconvenient. I Am Growing Fonder of My Electric Nissan Ariya.
Electric vehicles (EVs) are becoming increasingly popular, and one of the key advantages they offer is the convenience of charging at home. This article explores the time and money savings that come with charging an EV at home.
Time Savings
Charging at home is done conveniently overnight or while parked, eliminating the need for frequent trips to gas stations. Typically, these trips take 5-10 minutes or more per fill-up. By avoiding standing in line and fueling manually, EV owners can save 15 to 30 minutes per week or more, depending on driving frequency.
Money Savings
- Fuel Cost per Mile: Home EV charging costs approximately $0.03 to $0.05 per mile (based on a $0.14 per kWh rate and 3-4 miles/kWh efficiency).
- Gas Cost per Mile: Gas cars usually cost about $0.12 to $0.20 per mile in fuel. This means EV owners pay less than half the fuel cost per mile compared to gas.
- For example, at 20 miles driven daily, EV home charging costs roughly $25 per month, versus $72 to $120+ for gasoline at typical prices, indicating monthly savings of about $50 to $95 or around $12-$24 weekly.
- An average trip of 100 miles costs about $5.13 in electricity but $11.63 in gasoline for a typical compact SUV, confirming more than 50% savings on fuel costs.
- Installing a home charging station (wallbox) costs between $500 and $1,500, but savings in energy costs (especially off-peak charging) quickly offset this initial investment.
In summary, charging at home saves an EV driver 15-30 minutes weekly and roughly $12-$24 weekly in fuel costs compared to refueling a gasoline car at a gas station. This makes it both a financially and time-efficient choice.
Sources:
[1] https://www.evchargerhelp.com/home-charging-costs/ [2] https://www.forbes.com/sites/alanohnsman/2019/05/22/ev-charging-costs-are-dropping-thanks-to-cheaper-electricity/?sh=52e3b288521f [3] https://www.electricvehicles.com/charging-stations/home-charging-stations/ [5] https://www.fueleconomy.gov/feg/Find.jsp?topic=EV_Costs
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