Last updated on May 19, 2023

The cost to charge an electric vehicle (EV) varies depending on several factors, such as where you charge, the type of charging station you use, the electricity rate in your area, and even the time of day you plug in. Whether you're using a Level 1 home charger, a Level 2 public station, or a fast DC charger, each option comes with its own price tag.

Still, in 2023, charging an EV is almost always more affordable than filling up a gas-powered car.

Gas vs Electric Cars

As shown in the table above, drivers in the U.S. can save significantly by switching to an electric vehicle. The average annual cost for gasoline is around $1,500, while EV owners typically spend about half that amount on charging. These savings can add up over time, especially as electricity rates remain more stable compared to fluctuating gas prices.

Additionally, many regions offer incentives, tax credits, or lower electricity rates for EV owners, further reducing the overall cost of ownership. With advancements in battery technology and expanding charging infrastructure, going electric is becoming an even smarter financial choice for many drivers.