How to calculate the cost of charging EV?
The Indian government has been vocal about their focus on zero-emission vehicles. Automakers are leveraging this to address the increasing demand for electric vehicles. As customers, one wonders – how much will the switch cost us? Not just the initial cost of the vehicle but the cost of charging also needs to be taken into consideration.
So How to calculate the cost of charging EV?
First, let’s understand the basics. For an internal combustion engine (for the uninitiated, these are the engines our cars currently run on), we would consider fuel cost, mileage, and fuel tank capacity.
In an electric vehicle, there is no fuel tank. It runs on power train and includes a battery unit. Kilo Watt Hours (kWh) refers to the battery pack size – the electric equivalent of fuel tank capacity. A 30kWh battery pack can consume 30 units of electricity which will give you an idea of the charging cost.
How to calculate the cost of charging EV
Similarly, like kilometer per litre (kmpl) is an indicator of fuel mileage, kilometer per charge is an equivalent indicator of mileage for EVs – also called range. But we cannot compare the two since the latter refers to the number of kilometers achievable in a single charge, while kmpl is the distance the car travels after being filled with fuel.
Charging an EV is very different from filling a fuel tank. The cost of electricity is calculated differently as compared to fuel expenses. The cost of charging an EV from home is calculated considering the Kilowatts (kW) of electricity consumed. While charging stations have a fixed rate basis the duration charged. Check out the prices from a charging station near you.
You can choose from a number of charging options which range from Type 2 AC chargers to 50 kW DC fast chargers. Prices differ based on the type of charger.
Today there are many options to charge an EV. There are charging options available at charging stations besides DC fast charging. Also, there are faster ways of charging an EV from home besides the portable AC slow charger. We’ve created two very distinct scenarios at two ends of the price spectrum for you i.e. charging an EV from home which would be the cheapest way to charge an EV versus DC fast charging at a charging station.
Know How to calculate the cost of charging EV?
Scenario 1: Charging an EV from home could cost as low as Rs. 300/- approx. for a full charge depending on the monthly units consumed. Let’s break it down for you. Say your EV has a 30kWh battery. At Rs. 10/- per unit of electricity, you will be charged approximately Rs. 300/- to fully charge your EV from home.
Scenario 2: DC fast charging at a public charging station is estimated to cost you about Rs. 450/- (taxes extra) for up to 80% charge. For more details visit the
Tata Power EZ charge website or download the application for charging rates in your area.
We’re curious, how are you going to spend the money that you save each month?
Are you still confused on How to calculate the cost of charging EV?
See – Electric vehicle charging station cost
