Cost to Charging an Electric vehicle

 

In the age of eco-conscious decisions and rising gas prices, many people have considered the switch to an electric vehicle over a traditional internal combustion engine that is powered by gasoline. 

Some common concerns when considering the switch to electric include availability of charging stations, battery life, and how much money you actually save when switching over. You obviously aren’t paying for gasoline on an electric car, but you still end up paying energy costs. So how much are you really saving when comparing an electric vehicle to a gas-powered one? To understand the financial benefit, you have to examine the actual cost of charging an electric vehicle.
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Engine Types Explained 

Firstly, it is important to understand the difference between the two types of vehicles.

• Internal Combustion Engines:  Uses the explosive power of gasoline to propel your vehicle down the road. 
• Electric Vehicle: Uses a battery that connects to a motor that makes you go.

So how do you figure out how much it actually costs to charge an electric vehicle?

In order to calculate this, you first need to determine how much your electricity costs. In order to do this, you can look at your most recent electric bill and do a little bit of math - and relatively simple math at that. All you have to do is divide the number of kilowatt-hours you use by your energy bill cost to determine the price of a single kilowatt-hour (kWh). Once you understand how much you spend per kWh, you can use that number to determine the cost of a charge.

John Voelcker, a longtime automotive journalist and industry analyst who specializes in electric vehicles, says, “A conservative rule of thumb is that an electric car gets 3 to 4 miles per kWh. So divide the total miles you drive each month by 3 to get the kWh you would use monthly. Multiply that number by your cost per kWh. The dollar amount you get will most likely be lower than what you pay each month to buy gasoline.”

Since most Americans drive about 14,000-15,000 miles per year, or around 1,200 miles per month, which would use about 400kWh per month, the average cost of one kilowatt-hour in Ohio is about 14.33¢. This means that, rounding up, you would spend about $58 on energy per month to charge your electric vehicle, for a total of about $690 per year.

If you take into consideration the average cost of gas with the same mileage for an internal combustion engine (taking into consideration the average MPG is around 25.7 and the average cost of gas in Ohio is around $3.50), it would run the average driver about $1,975 per year, or about $165 per month. This adds up to savings of about $1,285 per year, or about $107 per month.

Electric Charging Stations Near You 

In other words, while an electric vehicle may cost a little more up front, the long term savings are worth the up-front cost of an electric vehicle. Not to mention that there are also a variety of Dayton area charging stations, such as those listed below:

• Evans Motorworks Charging Station: 7124 Poe Avenue, Dayton, OH 45414
• National Museum of the United States Air Force Charging Station: 1100 Spaatz St, Dayton, OH 45431
• Whole Foods Market Charging Station: 8075 McEwen Road: Dayton, OH 45458
• Sinclair Community College Charging Station: 201 West 5th Street, Dayton, OH
• University of Dayton B Lot Charging Station: 300 College Park Drive, Dayton, OH
• Dorothy Lane Market Charging Station: 2710 Far Hills Avenue, Kettering, OH
• AAA Huber Heights Charging Station: 8381 Troy Pike, Dayton, OH

Visit our Charging Station

BMW of Dayton knows the kind of money you can save when you go electric, and they’re here to help you out with a variety of high quality electric options such as the BMW 3 Series, the BMW i4, and the BMW iX. Contact us today to start your electric vehicle future!