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 — 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, not adds 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).