The Simple Formula
Cost = (kWh used) × (electricity rate per kWh)
Example: 50 kWh charged × $0.15/kWh = $7.50
The US average electricity rate is about $0.16/kWh (2025). Your actual rate depends on your state, utility, and whether you're on a standard or time-of-use plan.
Real-World Monthly Cost Examples
| Vehicle | Battery (kWh) | Monthly (1,000 mi) | vs. Gas* |
|---|---|---|---|
| Tesla Model Y LR | 82 kWh | ~$43 | $170 |
| Tesla Model 3 | 75 kWh | ~$40 | $155 |
| Ford F-150 Lightning | 131 kWh | ~$61 | $230 |
| Chevy Bolt EV | 65 kWh | ~$34 | $145 |
| Rivian R1T | 135 kWh | ~$62 | $230 |
*Gas equivalent at $3.50/gallon, 25 MPG average. Monthly cost at $0.16/kWh national average.
Average savings switching to EV home charging
Most EV owners save $100–$200/month on fuel after switching from gas. Over a typical 5-year ownership period, that's $6,000–$12,000 in fuel savings alone, more than paying for the charger and installation.
Electricity Rates by State
Where you live has a big impact on your monthly charging cost:
How to Cut Your Charging Cost in Half
Most utilities offer Time-of-Use (TOU) rates, which means lower electricity prices during off-peak hours (typically 9pm–7am). EV charging overnight can cost 30–60% less than daytime rates.
- ✓Ask your utility about EV-specific TOU rate plans — many utilities have dedicated EV rates
- ✓Use your charger's scheduling feature to automatically charge between midnight and 6am
- ✓ChargePoint, JuiceBox, and most smart chargers have built-in scheduling through their apps
- ✓Some utilities offer free overnight charging during off-peak hours as part of EV incentive programs
Does Adding an EV Significantly Raise Your Electric Bill?
Yes, but it replaces your gas bill rather than adding to it. At national average rates, charging 1,000 miles per month adds about $45–$65 to your electric bill. You'll stop spending $120–$200/month at the gas station.
Net result: most EV households save money overall, especially after any rebates and the reduced maintenance costs of EVs (no oil changes, fewer brake jobs).
What Does It Cost to Install a Home Charger?
To charge at home efficiently, most EV owners install a Level 2 charger. Installation typically runs $200–$1,000 depending on your electrical panel and home setup. See the full EV charger installation cost breakdown →
Check if your panel is ready
Before scheduling an installation, use our free AI panel analysis tool to find out if your electrical panel has capacity for a Level 2 charger, and what an upgrade would cost if needed. Analyze your electrical panel →