What it actually costs to charge an EV at home

Cost per mile equals your electricity rate in dollars per kWh divided by your car's efficiency in miles per kWh. A typical EV does 3 to 4 miles per kWh. At 16 cents per kWh and 3.5 miles per kWh, that is about 4.6 cents per mile — roughly $14 for 300 miles.

Add a little for charging losses. Expect 10 to 15 percent more energy drawn from the wall than lands in the battery, and more in very cold weather.

Most utilities offer a plan with a cheap overnight window, sometimes half the daytime rate or less. Because a Level 2 charger can move a full night's worth of energy inside that window, the rate plan often saves more money than any choice of charger hardware.

Nearly every Level 2 charger and every modern EV can schedule a start time. Set it once and forget it.

Public DC fast charging commonly runs 2 to 4 times the cost of home electricity, plus session or idle fees. A driver doing 1,000 miles a month might spend $45 to $55 at home versus $120 or more relying on fast chargers. That gap is what pays back the install.

Many utilities offer a rebate on the charger, the wiring, or both, and some give a bill credit for enrolling in managed overnight charging. These are separate from any federal or state incentive. Check your utility's EV page before you buy hardware, because some rebates only cover specific approved models.