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Assumes ~10 % charging losses and a $3.50/gal, 30 mpg gas reference. Off-peak EV rates (many utilities offer them) cut the number further.
What a Level 2 charger costs to install →The math behind the calculator
Monthly kWh = miles driven ÷ vehicle efficiency (miles per kWh), plus about 10 percent for charging losses: energy lost as heat between the wall and the battery. An efficient sedan gets 3.8 – 4.2 mi/kWh, crossovers and SUVs 2.9 – 3.5, electric trucks 2.0 – 2.5. Multiply by your rate and you have the bill impact.
Worked example: 1,000 miles a month in a Model Y class crossover at 3.2 mi/kWh needs about 344 kWh after losses. At 17¢/kWh that is $58 a month, or 5.8¢ per mile. The same miles at 30 mpg and $3.50/gal cost $117. The spread widens dramatically in high-gas states and narrows on expensive electricity (California rates above 30¢/kWh roughly double the EV figure).
The lever most owners miss: time-of-use rates
Most large utilities offer EV or time-of-use plans with overnight rates of 5 – 12¢/kWh, precisely when a home charger does its work. Scheduling charging into the off-peak window (every EV and most Level 2 chargers do this natively) can cut the charging line of your bill by 30 – 60 percent versus the flat rate.
The catch is that TOU plans raise peak-hour prices for the rest of the house, so the move pays when you can actually shift load: charge overnight, run the dryer and dishwasher off-peak. If your bill jumped after going electric, our guide to why an electric bill runs high covers the other loads worth checking. Check your utility's EV plan against your usage pattern before switching, and re-run the calculator with the overnight rate to see the real floor.
What the charger setup costs to put in
The recurring cost above sits on top of a one-time one: a Level 2 charger installed runs $500 – $2,000 in most homes, driven by panel distance and capacity rather than the device. A 30 percent federal credit (up to $1,000) applies in qualifying census tracts, and the EV charger tax credit rules explain the census-tract catch; many utilities add rebates on top. Level 1 (the included 120 V cord) costs nothing to set up and covers about 3 – 5 miles of range per hour: workable under 30 miles a day, frustrating past it, which is the trade-off Level 1 versus Level 2 charging lays out.
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