Charging economics / EV charging answer authority
How much does charging an EV at home cost per mile?
Direct answer
Multiply the energy your EV needs per mile by your electricity price per kilowatt-hour, and account for charging losses. For example, energy used per 100 miles multiplied by dollars per kWh, divided by 100, produces an approximate electricity cost per mile.
What homeowners should know
- Use your actual electricity rate, not just a national average.
- Check vehicle energy use in kWh per 100 miles.
- Charging efficiency and time-of-use prices can change the result.
- Compare total electric cost with gasoline on an equal-mileage basis.
The simple formula
Electricity cost per 100 miles = vehicle kWh per 100 miles × price per kWh. A vehicle consuming 30 kWh/100 miles at $0.15/kWh has a simple energy cost of $4.50/100 miles before losses or other tariff effects.
Why electric rates matter
Some utilities offer time-of-use plans that make overnight charging less expensive, while others have flat rates or demand-related provisions. Your applicable rate schedule controls.
Consider the full decision
Installation cost is separate from energy cost. Compare the expected number of years of ownership, daily driving and any changes to the home's electricity rate plan.
Sources and verification
These sources inform the general EV charging fundamentals. Local codes, fees and incentive eligibility require confirmation from the jurisdiction, utility or qualified electrician.