Electric Vehicle Charging Cost Calculator

How to Calculate Electric Vehicle Charging Cost

Calculating the cost of charging an electric vehicle (EV) is essential for EV owners to understand their operating expenses. There are two main approaches to this calculation, depending on whether you're charging to full capacity or estimating the cost for a specific driving distance.

What are the Formulas?

The formulas for calculating EV charging costs are:

1. Cost to Charge to Capacity:

\[ Cost = Battery Size (kWh) \times Electricity Cost (\$/kWh) \]

2. Cost to Drive a Set Distance:

\[ Cost = \frac{Efficiency (kWh/100mi)}{100} \times Distance (mi) \times Electricity Cost (\$/kWh) \]

What are the calculation steps?

1. Determine whether you're calculating the cost to charge to full capacity or for a specific driving distance.
2. Gather the required information (battery size, efficiency, distance, electricity cost).
3. Ensure all units are consistent (convert if necessary).
4. Apply the appropriate formula to calculate the charging cost.
5. Round the result to a reasonable number of decimal places (typically two for currency).

Example Calculation

Let's calculate the cost to charge an EV to full capacity:

Given:

• Battery Size = 75 kWh
• Electricity Cost = $0.14 per kWh

Step 1: Apply the formula

\[ Cost = 75 kWh \times \$0.14/kWh \]

Step 2: Calculate

\[ Cost = \$10.50 \]

Therefore, the cost to fully charge this EV would be $10.50.

Diagram of EV Charging Cost

The following diagram illustrates the concept of EV charging cost:

This diagram shows the relationship between the EV battery, the power grid, and the charging process. The cost is determined by the battery size and the electricity rate, represented by the equation at the bottom.