The Cost of Charging Your Electric Car (at Home)
Charging your EV at public charging stations can be convenient. But this is a good solution when you’re in a rush and you know that public charging stations are around.
In most other cases, home charging is more advantageous. Take, for example, its cost.
Do you know how much it costs to charge your electric car from a home charging station? One-time expenses include:
Possible additional expenses arise if your electrical panel needs an upgrade.
Speaking of ongoing costs, you will have to pay for the electricity used for charging your electric car. By the way, you will have to spend significantly less if you charge with solar panels.
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Costs of EV Home Charging Stations
Some say if you buy a home charging station, you’ll save money in the long run.
But how long should you run? :) And how much money do you really save?
It mostly depends on the amount you spend on the charging station itself and its installation costs. Good news: if you purchase a mobile charger, you will have no installation costs. Once set up, there are no further extra costs, and you can charge inexpensively at home at any time.
Let’s check the market and see what prices are there for EV charging stations.
The cheapest models cost around EUR 550 (no smart features implemented). When it comes to the most expensive ones, there is basically no limit. Chargers that cost EUR 1600 and more are available for purchase.
You want a smart AC charging station at an affordable price? That’s possible too. Our go-e Charger costs €749 - €759 depending on the model and the charging power.
go-e Charger Gemini 11 kW
The compact wallbox for stationary use, at home or at the workplace. Simple installation, intuitive operation and smart comfort functions. Charging power from 1.4 kW to 11 kW. 1-phase or 3-phase charging.
go-e Charger Gemini 22 kW
The compact wallbox for stationary use, at home or at the workplace. Simple installation, intuitive operation and smart comfort functions. Charging power from 1.4 kW to 22 kW. 1-phase or 3-phase charging.
go-e Charger Gemini flex 11 kW
The intelligent wallbox can be used both stationary in the wall bracket and mobile. No electrician is required for the installation of the charging station. Charging power from 1.4 kW to 11 kW. 1-phase or 3-phase charging.
go-e Charger Gemini flex 22 kW
The intelligent wallbox can be used both stationary in the wall bracket and mobile. No electrician is required for the installation of the charging station. Charging power from 1.4 kW to 22 kW. 1-phase or 3-phase charging.
Cost of Charging Accessories
Many home charging stations come without a cable you can use to connect it to your electric car. Therefore, you need to buy one separately. Prices for such cables vary between €150 and €350. Wanna know how to choose the right one? Check out our buyer’s guide.
go-e type 2 charging cable Black Edition (up to 22 kW) 7.5 m
Practical solution for situations where a car cannot be parked directly next to the charging station. The cable length allows two cars to be charged without having to move one of them.
go-e type 2 charging cable Black Edition (up to 22 kW) 5 m
The go-e cable for a maximum charging power of 22 kW is easy to handle. It is suitable for all electric vehicles with a type 2 plug. It can be used at both stationary and mobile charging stations.
go-e type 2 charging cable Black Edition (up to 22 kW) 2.5 m
You can park your electric car right next to the charging station? Then this cable is the perfect choice for you. It can remain permanently connected to the wallbox or be taken with you on your travels to charge at any wallbox or public charging station.
Note: If you have a stationary charging station with a permanently connected Type 2 cable, it is a good idea to have an extra cable to be able to charge at many public stations.
Costs to Install a Wallbox for Your Home
EV charging stations can be divided into mobile and stationary. But that doesn’t mean all mobile stations, for instance, are the same. Our go-e Chargers have numerous features (e.g. RFID management, charging time scheduler, etc.) that neither stationary nor mobile charging stations from many other manufacturers offer.
A mobile wallbox such as our go-e Charger Gemini flex works as any other device you plug into a socket. The only difference is that it's better if you use a CEE red socket instead of a regular 220 V one. Such a charging station does not need an electrician to install it. Accordingly, you don’t need to pay for it.
A stationary charging station (e.g. go-e Charger Gemini), on the other hand, should be wired into the mains supply of the building. This requires a qualified specialist.
The price of the installation services may vary, of course. The final number depends on the installation conditions and whether major modifications have to be made to the power line for the charger installation The modifications might include wall cutouts, buying a very long cable to connect the charger to the control cabinet and upgrading your electrical panel (e.g. if your fuse box is lacking power or every single circuit breaker is already wired up). If no extra services are needed, you will be charged about €400-600.
Cost of Charging your Electric Car at a Public vs Home Charging Station
The average price of charging your electric car at a public charging station is:
- 48 cents per Kilowatt hour (kWh) for level 2 charging with alternating current up to 22 kW (Stand: 27.10.2022)
- 53 cents/kWh for fast charging with direct current (Stand: 27.10.2022)
Meanwhile, most household electricity tariffs offer you charging an EV at an average price of 37 cents/kWh (Stand: 27.10.2022). It depends on your provider though. For instance, aWATTar available in Austria and Germany, charges 23.3 cents/kWh the highest.
Example: Costs for charging a Tesla Model 3 at home
Let’s assume you have a Tesla Model 3 with a 60,0 kWh battery. Charging it from zero to full with public DC fast chargers will cost around €31 (don’t forget about the charging loss). Meanwhile, charging it at home will cost €22 or less.
Want to know how to make it even cheaper? Wait to read about the smart features of home charging stations.
Money-saving features your EV charger may have
One of the best ways to save money when charging your electric car is using solar power. PV panels will allow you to generate your own energy and use it for charging your own car.
You can save even more if you have a home charging station with smart functions such as an eco-mode, which is implemented in our go-e Chargers. The charging station knows the prices for the coming hours in advance for all the flexible electricity tariffs we have stored. Simply define the price limit below which the charger should operate. If the price is higher, charging will not take place.
Another money-saving feature is called scheduler. As you may know, the electricity rates are lower at night. And the night is a perfectly suitable time for charging your electric car. No worries, you don’t have to start charging at 1 am manually. Simply set the start and end charging time in the app, and it will follow the command.
Recharge Costs of an Electric Car vs Fuel Fill-Up Costs of a Gas Car?
The first thing to consider for this comparison is the electricity and gas prices.
A conventional electric car consumes about 15 kWh per 100 km with average electricity costs of €0.37 per kWh (home charging). A similar vehicle with an internal combustion engine consumes 7.4 litres per 100 km at an average gasoline price in Germany of about 1.9 euros today (October, 2022).
At 10,000 km per year, this translates into costs of €555 for electric and €1406 for petrol vehicles accordingly, with petrol being €851 (≈ 150%) more expensive. For larger cars, the financial advantages of electric vehicles are even higher.
Bloomberg New Energy Finance (BNEF) reports that electric cars, in general, will be cheaper than gasoline cars in approximately 5 years.
Summary
Electric car charging costs depend on various factors, but they are much lower than driving on gasoline in any scenario. If you choose between public and home charging, keep in mind that the cost of home charging can be twice as low. Furthermore, it can be more eco-friendly and convenient.
Remember, if you get a smart wallbox with smart features like eco-mode or scheduler, you will be able to save even more when charging your electric car at home.
