Costs of Operating an Electric Vehicle
If you’re buying an electric vehicle (EV) or adding one to your commercial fleet, you’re probably thinking about all the money you’ll be saving once you no longer have to rely on liquid fueling and general maintenance. And in most cases, that’s a safe bet. But there are some bumps that can trip you up when it comes to measuring the costs of running an EV.
How do you know if your lean, green machine is really as energy-saving and cost-conscious as you hope? Read on for some guidance into the costs of operating an EV.
Key Points
Know your EV’s consumption ranking. For regular cars, you use miles per gallon to measure their fuel efficiency. With an EV, you’ll need to know what its energy consumption rate is. You can find this information in the manual or on the government’s website fueleconomy.com. The rate is measured as kilowatt hours per 100 miles or kWh/100m. To get a sense of how much your EV costs to run, multiply the EV’s kWh/100m rate by the local electricity rate.
Rates can vary. It’s difficult to predict the cost of electricity, as it varies even more widely than the cost of gasoline or other fuels. Electricity costs more in some states than others. In some areas, the rate can change depending on the time of day you power up. The Environmental Protection Agency states that the average cost to run an EV is 12 cents per kilowatt-hour. To get a precise figure for your EV, you’ll need to know what your local rate is.
Put it all together. As an example, if your EV has kWh/100 rating of 25 and electricity in your area costs 10 cents per kilowatt hour, your electric car will cost you $2.50 to drive 100 miles. This will also give you an idea of how much it will cost to “fill up” your EV’s tank.
At Home or Work
How long will charging an EV take? That depends on the level of charger you’ve installed. Most residential and small commercial users can get by with a level 1 charger that refuels the EV overnight. Level 1 chargers don’t require any special permits or wiring. They plug directly into your home’s electrical system.
A level 2 charger costs more to buy and install, but you’ll get charging that’s twice as fast. Ask your electrician if your home can handle a level 2 charger. In some cases, all that’s needed are some extra circuits.
Commercial vehicles will benefit from faster, stronger power to charge their EVs. Keep in mind that some cities require permits to install higher-powered EV chargers. A SESCOS electrician can let you know if one is needed in your area.
On the Go
Many cities offer free EV charging stations, usually conveniently located in regular parking lots. The Electric Auto Association has an app that’s compatible with androids and iPhones and lists hundreds of free EV charging stations in your area.
The chargehub app also lists private and public charging stations, ranked by the level of charger available. These include level 1, level 2 and super-fast stations that you can find quickly using the Android- and iPhone-friendly app.
On the Road
You never have to fear a road trip in your EV as long as you keep track of free and low-cost EV charging stations. The popular app plugshare will find you an EV station anywhere in the world. The app is compatible with all phones and also offers forums, information, and discussion groups for EV users.
The Alternative Fuels Data Center collects data on EV and other alternative fueling stations all over the country. The center provides this information in an app that you can download to an Android or iPhone.
Get Charged Up
It’s easy to see that an EV is a lot less costly to run than a gasoline-powered vehicle. The exception might be in states where the electricity rates are unusually high. In Virginia, electricity currently costs 11.08 cents per kWh, one of the lowest rates in the nation.
It’s clear that operating an EV in Virginia is a smart, energy-saving and money-saving move. Let SESCOS help you get started with safe, expert installation of your EV charger. Call us today and get charged up about driving an EV.
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