EV Charging Solutions for Home and On the Go A Comprehensive Overview

6. How much does it cost to charge an electric car?

Cost to charge electric car

Just like with how long it takes to charge an EV, the cost of charging depends on multiple variables including where you charge it, or the type of vehicle you drive.

Before we get into it in greater detail, here are the approximate costs of charging four different size vehicles (with battery packs from small to large), at three different types of charging stations, so that you can get a ballpark idea of charging costs for your new EV.

Average cost to charge electric car

Important: Prices for each charging segment are approximations based on our experience and do not represent a real-life situation. These calculations are based on a median guesstimate charging tariff and represent the cost to charge from zero to 100 percent.

Size of the electric car battery

The first thing you need to know when calculating how much it costs to charge your EV is the size of your battery. As shown above, the larger the battery, the more kWhs it can store; the more kWhs it can store, the more power it takes to fill the battery; the more power it takes, the more you have to pay to fill your battery. Simple, right?

Vehicles with a larger battery cost more to charge, but can often drive further on a single charge too.

For instance, a Tesla Model 3 Long Range with an 82 kWh battery costs about $12.30 to fully charge at home but has a range of roughly 614 km (381 miles). However, a Fiat 500e with a much smaller 42 kWh battery, while costing a fraction of the price to charge, only has a 321 km (200 miles) range.

Once you know how big your new EVs battery is (measured in kWh), you can approximate how much it costs to charge at different charging stations. The three main options are at home, at public locations, or at fast-charging stations.

EV home charging cost

Charging from home is the cheapest way to charge your new car. Because theres no middle man standing in between you and the cost of energy, youll always get the cheapest rate available to consumers at home.

Electric car electric bill

How much it costs to charge at home is an easy equation. Simply take your latest energy bill and find the price per kWh you pay at home and multiply it by the size of your battery.

On average, residential prices for electricity vary from around /$0.10 on the low end in Europe and North America to /$0.32 on the higher end.

At the time of writing this guide, weve taken some averages around the world from Energybot (US), the European Union (EU), and Nimblefins (UK):

That means if youve just bought a Tesla Model 3 with an 82 kWh battery and pay $0.15 for electricity, youll be set back around $12.30 to fully charge your EV.

While this calculation gives an estimation of home charging costs, it doesnt take into account the batterys current state of charge, the state of your battery in general, weather conditions, or the type of charger, which can all impact your actual costs.

Cost of charging electric car at public station

Public charging stations can range from offices to curbside stations and commercial parking garages to shopping malls, restaurants, and hotels. The truth is that today, theres no shortage of businesses big and small investing in EV charging. At the same time, cities and governments are investing in EV charging infrastructure to accelerate the shift towards sustainable mobility. When you put both together, youve got charging stations springing up in a range of locations.

Public charging stations can be either Level 2 or Level 3 (AC or DC charging stations) stations but, for simplicity, weve split them into two categories and will discuss them separately as they usually come with very different costs.

In both cases, public charging has a middleman providing the service (called charge point operators), so public charging stations usually have a marked-up price in comparison to home charging. How much it costs to charge depends on the base price of electricity in your location and how much the provider charges you for the service.

In some cases, like workplaces and offices, the provider is also an employer and will provide EV charging as an employee benefit and may charge less, or even allow employees to charge for free. Others, like parking facilities and shopping malls, will take the price of electricity and mark it up to make a profit on it, like any other service they offer. Some, like restaurants and hotels, may use EV charging as a way to attract new customers and offer free or discounted charging to patrons.

Just like the diversity in how much it costs, how these providers will calculate costs also differs greatly. Below is a list of the four most common ways to calculate charging tariffs.

• Connection fee: a fixed amount for each session.
• Energy fee: a certain price per kWh used during the charging session.
• Time fee: Cost per minute or hour.
• Service fee: A one-offmarkup for providing the service.

For example, a charging provider might charge $0.35 per kWh with a $1 service fee, meaning it would cost you $29.70 to fully charge a Tesla Model 3 with an 82 kWh battery.

How much it costs in practice for you depends on the provider, your country and region. While public charging tends to be more expensive, it is often faster than charging at home, and still cheaper than gas.

Cost to charge electric car at a DC fast charger

Level 3 or DC charging is the fastest way to charge an EV. Depending on the power output and your vehicles fast charging capabilities, it will likely take somewhere between 15 minutes and an hour to charge your EV up to 80 percent full. These speeds make DC charging stations perfect for quick top-ups at on-the-go locations like highway rest stops, gas stations, or supermarkets.

However, DC charging stations are also the most expensive to build and run. To enable these charging times, DC charging stations have to deliver serious amounts of power to a vehicles batterythink between 50 and 350 kW rather than 22 kW, the maximum output for AC charging stations.

As a result of these high installation and operating costs, charging service providers will often ask for a much higher price to pass on some of their expenses to the customer. In some cases, DC fast charging stations can cost double, or even triple, the kWh price of electricitymaking the costs here similar to the cost of filling up your tank with fossil fuels.

Typical costs can range from $0.60 per kWh with a $2 service fee to a flat rate of $0.99 per minute. This means that to fully charge the same Tesla Model 3 as above, it would be closer to $50 for a full battery. But where filling up your tank at the gas station is the only option for ICE vehicles, DC fast charging is more of a sporadic convenience on long trips than an everyday tool for your daily commute.

Cost of electric car vs. gas

One of the questions we hear potential EV drivers ask us all the time is, are EVs cheaper to charge than filling up a conventional fossil-fuel vehicle? As you may have guessed by now, the answer to that question is almost always yes.

Regardless of charging costs for individual sessions, when you take into account that most EV drivers charge at home, occasionally topping up when shopping or at the workplace, and using fast charging for long-distance journeys, EV charging is usually a lot cheaper than filling a car with gasoline or diesel.

Electrifying India: A Comprehensive Overview of the EV Industry, Government Initiatives, Startup Contributions, EV Charging Infrastructure Status, and the Vital Role of Charging

As of 2023, India stands as the world's third-largest automobile market in terms of sales. Notably, in 2022, India ascended to the fourth position globally in terms of the valuation of its automotive industry. As of April 2022, the Indian automotive sector boasts a substantial worth, exceeding US$100 billion, contributing significantly to the nation's economic landscape. It accounts for 8% of India's total exports and contributes 7.1% to the country's Gross Domestic Product (GDP).

While the electric vehicle (EV) segment has held a relatively modest share in the broader automobile narrative, there is an encouraging upswing in EV adoption. The horizon for EVs in India appears promising, with increasing interest and growth prospects on the horizon.

Present status of the electric vehicle industry in India and the growth trends

Transportation in India contributes 14% of CO2 emissions (ICCT 2022), with 90% of energy used by road transport (Hagemann et al., 2020) and 50% of oil demand (IEA 2021). Amidst economic growth, addressing energy use and decarbonization is vital.

India's EV industry is promising, with 1.2 million EV units sold and forecasts of $200 billion investments by 2030. The government's ambitious goals envision EV sales penetration targets of 30% for private cars, 70% for commercial vehicles, and 80% for two and three-wheelers by the year 2030.

Government schemes like FAME incentivize EV adoption. Increasing buyer awareness, advancements in battery and charging technologies, automakers participation, and green charging infrastructure are enhancing the appeal of EV.

The Indian EV market is diversifying rapidly and includes E3Ws and E2Ws, which are cost-effective and growing in popularity. Studies suggest that lifetime TCO of E3Ws & E2W are already 20% - 70% cheaper than their ICE equivalents. E4Ws on the rise and expected to rise to 30% of all 4 wheeler sales. E-Buses are being promoted with a $7 billion scheme to deploy a fleet of 10,000 electric buses and charging infrastructure across 169 cities within the next decade. The heavy logistics sector is just starting to tap into the potential of EVs.

Overall, EV industry rapid progress is driven by support, awareness, technology advancements, and infrastructure.

Significance of Government initiatives

The EV ecosystem, encompassing materials, supply chain, and operational infrastructure, policies, and stakeholders possesses distinct characteristics compared to ICE vehicles. The unique characteristics of the EV ecosystem demand robust governmental support for a seamless transition and a distinctive global EV position.

• Rules like Battery Waste Management, Vehicle Scrappage Policy, and schemes like FAME, Production Linked Incentive create a roadmap for both manufacturers and consumers to embrace EVs.
• Incentives, subsidies, tax rebates, road tax exemptions, domestic manufacturing etc help bridge the price gap between EV and ICE vehicles and encourage adoption.
• Public awareness campaigns such as Shoonya Zero Pollution Mobility and Go Electric" campaigns create awareness about the benefits of EVs, including reduced emissions, lower operating costs, and enhanced energy security.

• Governmental support boosts investor confidence in the EV sector. It signals stability, which is critical for attracting investments in EV manufacturing, technology development, and charging infrastructure.

These efforts align with global sustainability trends, enhancing India's image and opening doors for international collaborations. Overall, government initiatives bridge gaps, reduce costs, create jobs, and shape a greener mobility future.

Startups influencing the evolving dynamics of EV industry in India

Startups and entrepreneurs are playing a transformative role in shaping the electric vehicle (EV) industry in India. The areas they actively contribute to the industry's transformation:

• Subscription-based models such as eMaaS offer flexible access that aligns with changing consumer preferences for sustainability and convenience.

• EV-focused ride-sharing and rental platforms optimize vehicle utilization and provide a taste of EV experience without ownership commitments.

• Innovative charging solutions, including fast-charging stations, peer-to-peer charging networks, battery swapping services enhance accessibility.

• Industry 4.0 / Digital Twins for faster and sustainable EV development, creating virtual replicas that revolutionize automaker operations.

• Design EVs for urban landscapes, addressing charging limitations, traffic congestion, and diverse terrains unique to the Indian market.

• Leveraging AI, data analytics, and IoT to optimize battery performance, predictive maintenance, and user experiences, reducing TCO.

• Advancements in battery management systems and solid-state batteries, and battery waste management contributing to higher energy density and localized manufacturing.

Status of EV Charging Infrastructure in India

The present status of EV charging infrastructure in India reveals a mixture of encouraging advancements and a host of challenges. Approximately 11000 - 11500 operational charging stations in the country. However, the average ratio of 200 EVs for every public charging station is negligible compared to itsglobal counterparts.

By 2030, India is estimated to require nearly one and half million charging stations. The nation's ambition is to establish charging stations every 40 to 60 km along highways. There are several insufficiencies and challenges that persist:

• Charging infrastructure is unevenly spread, leaving gaps in coverage in rural areas. Incentivizing investment coupled with strategic planning can help address this imbalance.

• Public charging stations remain quite limited. Developing well-planned fast-charging corridors on highways is critical to address range anxiety and facilitate long-distance travel.

• Seamless charging experiences require standardized charging protocols and compatibility between chargers and EVs.

• The utilization of charging stations varies, with some overburdened and others underutilized. Data analytics can optimize station placement and usage.

Addressing these challenges requires a strategic approach, collaboration between public and private sectors, and continued investment.

Establishing a robust EV charging is critical for mass adoption of EV

Successful EV adoption relies on robust charging infrastructure and tailored policy frameworks that suit local contexts. "Range anxiety," the fear of inadequate charging options, underscores the need for dependable and extensive charging networks.

While incentives impact adoption, investing in charging infrastructure proves more effective. Charging capacity reduces demand for larger batteries and optimises battery sizes ( thus bringing down the EV cost).

As India prioritizes carbon reduction, a robust EV infrastructure becomes vital. However, charging stations are just one facet of a complex puzzle. Numerous elements must converge to build an effective ecosystem:

• Reliable Infrastructure including Charger Management Software, Payment systems, Discovery applications, and backend support ensure consistent access.

• Business Models such as Charging-as-a-Service, Leasing of chargers by eMobility Service Providers and enterprises help amortize the initial infrastructure cost.

• Artificial Intelligence can optimize charging patterns, manage energy demands, predict demand, and integrate with intelligent grid systems for optimized operations.

• Integrating renewable energy generation, energy storage, and smart grid technologies to create an eco-friendly transportation ecosystem.

Diverse charging solutions cater to different EV types and needs, with models like home and fast-charging stations coexisting. Effective planning should account for parameters to select the right charging approach, ensuring a seamless EV transition.