How Much Does It Cost To Charge an Electric Car?
There are various benefits to getting an electric vehicle (EV). One of these is the overall cost of keeping your car powered and traveling the roads of Dearborn and Detroit, Michigan.
While gas prices fluctuate and electricity costs can vary, most scenarios see drivers spending less per month to charge their EV than to fuel a gas-powered car. How much does it cost to charge an electric car? Our Genesis of Dearborn team explains below how driving an electric car may be a financial benefit to you!
There are two ways to charge your EV at home: through the use of a Level 1 Charger or a Level 2 Charger.
A Level 1 charger is your standard 120-volt outlet. These are the same outlets you have in your home that you use to charge your laptop and plug in your TV. Since many homes have these outlets in the garage or on the exterior of the house, this is a simple and easy way to charge your car without needing to install anything else. This type of charging usually provides an average of four miles of range per hour of charging, for easy, overnight charging.
A Level 2 charger requires a 240-volt connection, which is the same type of outlet you typically use for household appliances, like clothes dryers. Installation of this type of outlet is best left to a professional electrician and usually costs between $500 and $800 for parts, then a few hundred dollars for the labor. Overall, a Level 2 charge will be usually between $1 to $5 per hour.
It might be worth the investment, though, since a Level 2 charger provides an average of 32 miles of range per hour of charging. You can also look into any tax rebates or incentives that are available when you install a Level 2 charger.
The other way you can charge your electric car is at a public charging station. These are typically found within shopping centers, convenience stores, and even along the streets of cities. While there are various types of chargers, ultimately the speed at which you can charge your car will come down to the type of EV you drive and the capability it has with various charges.
As an example, the Genesis GV60 has an ultra-fast charging capability, for added convenience. Overall, it takes about 18 minutes to go from 10 to 80 percent charged using a DC Fast Charger charging station. To get a full charge, it typically will cost between $10 to $30 for most EV owners.
If you own a Genesis EV, you’ll be happy to know that Genesis has partnered with Electrify America to provide their EV owners three years of complimentary 30-minute DC Fast Charging sessions.
When looking at getting an electric car, it’s about more than just examining your current costs. You will also want to look at how switching to an electric car might help you save in the long run.
When factoring in average miles driven annually, fuel prices, electricity prices, and the efficiency of the vehicle, here is what you could potentially save over five years. with various Genesis electric vehicles:
|
Potential Fuel Savings (Over 5 Years) |
|
|
Genesis GV60 |
$3,200 |
|
Genesis GV70 |
$3,800 |
|
Genesis G80 |
$3,350 |
As you can see, it may be more beneficial to you to drive an electric vehicle, especially a Genesis model, thanks to the convenience and cost associated with powering your vehicle.
If you are ready to forget about gas prices and switch to an eco-friendlier vehicle, stop by Genesis of Dearborn today. We can help you determine which Genesis EV you’d like for your commute around Dearborn and Detroit, MI, and share more charging tips to get the most out of your electric car!