Electric cars are gaining ground in popularity both for their environmental advantages and for the lower running costs than gas-powered cars. How much electric car running cost depends, however, on electricity rates, battery efficiency, charging habits, and driving conditions. Knowing these costs may save EV owners money and help them make sound decisions about vehicle usage.
What Does Running an Electric Car Cost?
It costs different owners varying amounts to run an electric car. Some pay more than others because they charge at home during off-hours, while others use public charging stations that have higher rates. A breakdown of the factors helps you understand how this happens.
1. Electricity Rates & Charging Costs
Like gas prices, electricity rates can vary by location, provider, and time of use. Here’s what affects the price of charging your EV:
- Charging at Home – Most EV owners pay the residential electricity rate, which typically ranges from $0.10 to $0.30 per kWh in the U.S.
- Time-of-Use (TOU) Rates – Some utility companies charge lower electricity rates during off-peak hours, such as nighttime charging.
- Public Charging Stations – While some are free, others cost $0.30 to $0.60 per kWh, with fast chargers being more expensive.
To estimate the full charging cost, use this formula:
Charging Cost = Battery Capacity (kWh) × Electricity Rate ($ per kWh)
For instance, if your EV has a 60 kWh battery and your home electricity rate is $0.15 per kWh, a full charge would cost:
60 kWh × $0.15 = $9.00
That’s significantly cheaper than filling a gas tank!
2. Battery Efficiency & Cost Per Mile
Unlike gas cars, which measure efficiency in miles per gallon (MPG), electric vehicles are rated by miles per kWh—how far they can travel on one unit of electricity.
- High-efficiency EVs get 4–5 miles per kWh.
- Larger or high-performance EVs may only get 2–3 miles per kWh.
To calculate cost per mile, use this formula:
Cost Per Mile = Electricity Rate ($ per kWh) ÷ Miles Per kWh
For example, if electricity costs $0.15 per kWh and your car gets 4 miles per kWh, your cost per mile is:
$0.15 ÷ 4 = $0.0375 per mile (3.8 cents per mile).
That’s much cheaper than gas cars, which typically cost $0.12–$0.20 per mile, depending on fuel prices!
3. Driving Habits and Road Conditions
Your driving habits and road conditions also affect how much electric car running cost over time. Other factors include:
Fast acceleration & high speeds – Uses more battery power.
Stop-and-go traffic – Regenerative braking helps recover energy.
Cold weather – Batteries lose efficiency in low temperatures.
City vs. Highway Driving – EVs perform better in cities, where regenerative braking helps conserve energy, while highway driving drains the battery faster.
By adjusting driving habits, EV owners can improve battery efficiency and reduce running costs.
4. Maintenance Costs – Is It Cheaper to Maintain an EV?
EVs require less maintenance than gas-powered cars because they have fewer moving parts. Here’s what EV owners save money on:
No oil changes
No transmission repairs
Less brake wear (regenerative braking reduces brake usage)
However, EV owners should budget for:
- Tire replacements (similar to gas cars).
- Battery replacement (every 8–15 years, depending on usage).
- Brake fluid changes (though less frequently than gas cars).
EV Running Costs vs. Gasoline Cars – Which One Is More Affordable?
To see how much you save, let’s compare cost per mile:
Gas Car (25 MPG, $3.50 per gallon):
$3.50 ÷ 25 MPG = $0.14 per mile
Electric Car (4 miles per kWh, $0.15 per kWh):
$0.15 ÷ 4 = $0.0375 per mile
That means an electric car could be 70%–75% cheaper per mile than a gasoline vehicle—leading to hundreds or even thousands of dollars in savings per year!
Low-Cost Ways to Run Your Electric Car
To save even more on electric car running costs, EV owners can:
Charge at night – Many utility providers offer lower off-peak rates.
Use free charging stations – Some workplaces and shopping centers provide free EV charging.
Install solar panels – If you have solar energy at home, your EV charging costs could be close to zero.
Drive efficiently – Smooth acceleration, proper tire pressure, and regenerative braking maximize efficiency.
But Is an Electric Car Worth It?
With lower fuel costs, fewer maintenance expenses, and long-term savings, electric vehicles are a cost-effective and environmentally friendly choice.
By understanding how much electric car running cost based on electricity rates and battery efficiency, EV owners can make informed decisions and maximize their savings.
