EV Charging Energy Use: Save on Your Bill
Your newest purchase sits sparkling in the driveway.
Yet, as you admire it, a small worry creeps in—how to keep it charged efficiently and cost-effectively.
You rely on a public charging station in Newark right now, so the convenience of charging at home is becoming more and more appealing.
As you plan for your EV’s energy needs, plan to save money on your energy bill by reading this article.
Save money with an EV charger by knowing:
EV Charger Impact on Electricity Bill
Switching from a gasoline-powered vehicle to an EV will reduce your annual fuel costs.
On average, charging an EV costs about $0.12 per kilowatt-hour (kWh).
For most drivers, this translates to approximately $300 to $400 per year in electricity costs.
In contrast, fueling a gas-powered vehicle costs between $1,000 and $1,500 annually.
If we do the math, that’s $1.20-1.50 per “gallon” of electricity compared to $3.00-4.00 per gallon of gasoline.
Strategies for Reducing EV Charging Costs
Charge During Off-Peak Hours
Many utility companies offer time-of-use (TOU) rates.
This is where electricity costs are lower during off-peak hours, usually at night.
You’ll likely have to consult with your utility company to see if TOU rates are right for you since they aren’t the default.
By scheduling your EV to charge during these periods, you reduce your electricity bill.
Most modern EV chargers come with scheduling features to set specific times for charging.
Install Solar Panels
Solar panels convert that bright Chester County sunlight into electricity, which is used to power your home and charge your vehicle.
With net metering, excess electricity produced is fed back into the grid, offsetting your electricity costs.
Real-Time Energy Monitoring
These systems provide detailed data on how and when energy is used, allowing you to make informed decisions.
Smart Meters: These devices replace traditional meters, recording energy use and sending data to you and your utility company.
Home Energy Management Systems (HEMS): These systems integrate with your smart home devices, offering a comprehensive view of your energy use.
By understanding your energy use patterns, you can adjust behaviors and settings to increase efficiency.
Use a Home Energy Management System
Home energy management systems (HEMS) optimize energy use across all devices in your home.
These systems can automatically schedule your EV to charge during off-peak hours and manage the load on your electrical system.
HEMS provide real-time data on your energy consumption, helping you identify areas to reduce usage.
By integrating smart home technology, these systems adjust your energy use based on your habits and preferences.
Types of EV Chargers
The type of EV charger you choose will directly impact your electricity bill and the time it takes to charge your car, so make the decision that’s best for your household.
Level 1 Chargers
Level 1 chargers are the most basic type, using a standard 120-volt outlet found in most homes.
These chargers typically come with the vehicle, offering a plug-and-play setup.
Charging with a Level 1 charger is slow, taking 8 to 12 hours for a full charge.
They’re suitable for those who drive short distances, like to West Chester, daily or use their vehicle less frequently.
This option requires nothing beyond the outlet itself, keeping initial costs minimal.
Level 2 Chargers
Operating on a 240-volt system, Level 2 chargers are a faster charging solution that you can find in homes and parking lots alike.
They significantly reduce charging time to 3-8 hours for a full charge.
Level 2 chargers require a dedicated circuit, which involves professional installation.
This option is ideal for daily drivers who need a quicker turnaround and want the convenience of topping up their vehicles overnight or during the day.
Level 3 Chargers (DC Fast Chargers)
Level 3 chargers, or DC Fast Chargers, are typically found at public charging stations and rest stops.
They operate on a high-voltage DC system, delivering rapid charging in as little as 30 minutes.
Due to their high cost and power requirements, they are generally not suitable for residential installation.
These chargers are best for a quick recharge during a long-distance trip or while shopping in Kennett Square.
EV Charger Installation Costs and Incentives
Installing an EV charger at home includes the price of the charger and the expense of installation.
On average, the total cost for a Level 2 charger installation ranges from $500 to $2,000.
Factors affecting this cost include:
the distance from the electrical panel to the charging location
the complexity of the installation
any necessary electrical upgrades
Many utility companies and government programs offer rebates and incentives to encourage electric vehicles and reduce the cost of installing home charging stations.
Make the Smart Switch to an EV Charger with New London Electric
Electric vehicles offer a cheaper, cleaner, more sustainable alternative to traditional gas-powered cars.
So, further your savings by installing an EV charger at home.
Our experienced professionals will ensure your home is equipped with the latest technologies that maximize efficiency.
Contact New London Electric today to learn more about how you can optimize your home’s energy use with an EV charger.
FAQs
Does EV charging increase home value?
Yes, particularly in areas with a growing number of electric vehicle owners. Homes with installed EV chargers are more attractive to buyers who prioritize sustainability and convenience, making it a valuable investment in functionality and resale value.
Is it worth it to charge an EV at home?
Yes, charging an EV at home is worth it. Home charging typically costs less per kilowatt-hour compared to public charging stations. Additionally, charging at home allows you to take advantage of off-peak electricity rates, reducing energy costs.
How many kWh does it take to charge an EV at home?
It takes about 30 kWh to charge an electric vehicle for 100 miles of driving. The total kWh required for a full charge depends on the EV’s battery size, typically 40 to 100 kWh for most models. This usage directly impacts your electricity bill.
Is charging an EV at home or at a public charging station better?
It’s generally better to charge an EV at home. Home charging allows you to take advantage of lower electricity rates, especially during off-peak hours. Public charging stations are useful for longer trips but often come with higher costs and require more planning.