How do you calculate the cost of charging an electric car?
Calculating the cost of EV charging is a relatively simple
process using the formula provided:
Charging cost = (VR / RPK) x CPK
Let's break down the formula step by step and illustrate it
with an example:
Vehicle range (VR): This refers to how far your electric car
can go on a full charge. For instance, if your electric car has a range of 200
miles on a full charge, VR would be 200 miles.
Range per kWh (RPK): This factor estimates how many miles
you can drive per kilowatt-hour of electricity. On average, this is typically
around 3 to 4 miles per kWh. For this example, let's use 3 miles per kWh.
Cost per kWh (CPK): This is the cost of electricity per
kilowatt-hour. Depending on where you charge your EV, CPK can vary. For this
illustration, let's consider a Level 2 charger that costs $0.23 per kWh.
Now, let's calculate the monthly charging cost:
Charging cost = (VR / RPK) x CPK
Charging cost = (200 miles / 3 miles per kWh) x $0.23 per
kWh
Charging cost = (67 kWh) x $0.23 per kWh
Charging cost = $15.41
So, for a monthly driving distance of 1,200 miles, if you
use a Level 2 charger that costs $0.23 per kWh, your monthly charging cost
would be around $92.
It's important to note that this is a simplified calculation
and actual costs may vary due to factors like fluctuations in electricity
rates, driving conditions, and charging efficiency. However, this formula
provides a good estimate of your monthly charging expenses based on your
vehicle's range, the efficiency of your EV, and the cost of electricity in your
area.
Find out now: Telgeoot EV charging fees
