Levelized Cost of Charging Electric Vehicles in the United States

Highlights

• Average cost to charge a battery EV (including equipment) in the US is $0.15/kWh

• Over 15 years, EVs can save thousands of USD in fuel costs compared with gasoline

• Costs vary widely depending on location, use, charging behavior, and equipment cost

• Residential off-peak time-of-use charging reduces the average cost by 24%

Summary

The cost to charge an electric vehicle (EV) varies depending on the price of electricity at different charging sites (home, workplace, public), vehicle use, region, and time of day, and for different charging power levels and equipment and installation costs. This paper provides a detailed assessment of the current (2019) levelized cost of light-duty EV charging in the United States, considering the purchase and installation costs of charging equipment and electricity prices from real-world utility tariffs. We find national averages of $0.15/kWh for battery EVs and $0.14/kWh for plug-in hybrid EVs in the United States. Costs, however, vary considerably (e.g., $0.08/kWh to $0.27/kWh for battery EVs) for different charging behaviors and equipment costs, corresponding to a total projected fuel cost savings between $3,000 and $10,500 compared with gasoline vehicles (over a 15-year time horizon). Regional heterogeneities and uncertainty on lifetime vehicle use and future fuel prices produce even greater variations.