What Is the Cheapest Way to Charge an EV?

Understanding EV Charging Costs

Before we dive into the cheapest methods, it’s important to understand what factors influence EV charging costs:

1. Electricity rates (varies by location and time of use)
2. Charging speed (Level 1, Level 2, or DC fast charging)
3. Charging location (home, workplace, or public stations)
4. EV battery capacity (measured in kWh)
5. Charging efficiency (some energy is lost during charging)

The U.S. Department of Energy estimates that the average cost to charge an EV is about $0.15 per kWh, which translates to roughly $0.04 per mile for a typical EV. Compared to gasoline vehicles averaging $0.15 per mile, EVs already offer substantial savings. But we can do even better.

The Cheapest EV Charging Methods Ranked

1. Home Charging with Off-Peak Electricity Rates

The absolute cheapest way to charge your EV is at home during off-peak hours if your utility offers time-of-use (TOU) rates. Here’s why:

• Lower electricity rates: Many utilities charge significantly less for power used overnight (often 50-70% less than peak rates)
• No markup: Unlike public chargers, you’re paying just the electricity cost without service fees
• Convenience: Wake up to a fully charged vehicle every morning

How to set this up:

• Install a Level 2 home EV charger (240V)
• Enroll in your utility’s TOU rate plan
• Program your EV or charger to only operate during off-peak hours (typically 9pm-6am)

Cost example: In California with PG&E’s EV2-A rate plan, off-peak charging costs just $0.25/kWh compared to $0.45/kWh during peak times. For a 60kWh battery, that’s a savings of $12 per full charge.

2. Free Workplace Charging

Many employers are installing EV charging stations as an employee benefit. These are often:

• Completely free to use
• Level 2 chargers that can fully charge your vehicle during work hours
• Available on a first-come, first-served basis

If your workplace offers this perk, it could eliminate your home charging costs entirely. Some companies are even installing DC fast chargers for employees.

3. Public Free Charging Stations

While becoming less common, there are still many locations offering free EV charging:

• Shopping centers and malls (to attract customers)
• Hotels and resorts (for guests)
• Some municipal locations (libraries, parks, city halls)
• Car dealerships (often for any EV, not just their brand)

Websites like PlugShare can help you locate free charging stations in your area. The trade-off is that these are usually Level 2 chargers, meaning you’ll need to leave your car parked for several hours.

4. Solar-Powered Home Charging

If you have or install solar panels, you can charge your EV with free, clean energy. The economics:

• Upfront cost: Solar systems require significant investment ($15,000-$25,000)
• Long-term savings: After payoff period (typically 5-8 years), your “fuel” is essentially free
• Federal tax credits: The U.S. offers a 30% tax credit for solar installations until 2032

For maximum benefit, pair solar with a home battery system to store excess generation for overnight charging.

5. Public Network Discounts and Memberships

Many charging networks offer reduced rates for members:

• Electrify America Pass+: $4/month gets you 25% lower charging rates
• EVgo Membership: $6.99/month reduces rates by about 20%
• ChargePoint Home: Some utility partnerships offer discounted home charging

If you regularly use these networks, the membership can pay for itself quickly.

6. Public Level 2 Charging

While slower than DC fast charging, public Level 2 stations are typically much cheaper per kWh. Many are priced similarly to home electricity rates, unlike fast chargers which often carry substantial premiums.

Comparing Charging Costs: A Detailed Breakdown

Let’s examine the cost to fully charge a typical 60kWh EV battery (about 200-250 miles range) using different methods:

*Assumes 30mpg gas vehicle at $3/gallon and EV getting 4 miles/kWh*

Smart Charging Strategies to Save More

Beyond choosing the right locations and times to charge, these strategies can further reduce your costs:

1. Precondition your battery: Warming the battery while still plugged in improves charging efficiency
2. Charge to 80%: The last 20% charges slower and less efficiently
3. Use scheduled charging: Program your EV to charge only during the cheapest rate periods
4. Monitor utility programs: Many offer special EV rates or rebates for home charger installation
5. Combine charging with errands: Use free public chargers while shopping or dining

The Hidden Costs to Consider

While focusing on the cheapest charging methods, don’t overlook:

• Home charger installation: $500-$2,000 for a Level 2 charger and professional installation
• Public charging idle fees: Many networks charge fees if you don’t move your car after charging completes
• Battery health: Frequent DC fast charging can degrade batteries faster, potentially costing more long-term

Future Trends in Affordable EV Charging

The landscape of EV charging continues to evolve with several developments that could make charging even cheaper:

1. Vehicle-to-Grid (V2G) technology: Soon you may be able to sell excess power from your EV back to the grid at peak times
2. Improved battery technology: Faster charging and longer lifespans will reduce costs
3. More workplace charging: As adoption grows, more employers will offer free charging
4. Renewable energy growth: More solar and wind power will stabilize electricity prices

Conclusion: The Cheapest Charging Strategy

After examining all options, the most cost-effective approach for most EV owners is:

1. Primary charging: At home during off-peak hours with a Level 2 charger
2. Secondary charging: Take advantage of free workplace or public charging when available
3. Occasional use: DC fast charging only when necessary for long trips
4. Future planning: Consider solar panels if you own your home for nearly free charging

By combining these methods, many EV drivers report spending just $200-300 annually on “fuel” compared to $1,500-$2,000 for comparable gasoline vehicles. As electricity rates and charging networks continue to evolve, staying informed about new programs and technologies will help you maintain the cheapest possible charging strategy throughout your EV ownership experience.

Remember, the most expensive charging method is still significantly cheaper than gasoline, so no matter how you charge, you’re saving money while reducing emissions. The key is finding the right balance of convenience and cost that works for your driving habits and lifestyle.