Electric Cars: Do They Raise Your Electric Bill?

This post is part of a sponsored series. 

I recently heard the question, “Do electric cars raise your electricity bill?” and I thought that was a really great question. I had wondered that a while ago too when electric vehicles were gaining steam and getting more popular. Our favorite New York Dodge dealer agrees it’s a valid question, here’s what you need to know.

The short answer; yes. But there’s more to consider and it’s worth hearing out the long answer.

Compare Electric vs. Gasoline

So first off, electric cars are all going to be more or less efficient based on the vehicle. Currently, the Chevrolet Volt is the most efficient electric vehicle running at 28 kWh per 100 miles. And while we’re talking statistics, the average cost of electricity here in the U.S. is roughly 12 cents per kWh. Now using the estimate that the average person drives about 15,000 miles a year, Plug In America has figured that it costs about $540.00 per year to charge the average electric car. When you compare that against what you would spend to drive the same distance on gasoline (which would cost you about $1,400 per year), you’re actually going to save yourself about $900 in that year. You’re just spending it in different areas instead.

photo credit: pchow98 Two “Green” Cars – Which One? via photopin (license)

How to Save More

Now there are ways to save on that as well. Electric companies typically charge higher rates during peak times, so by charging your electric vehicle during the night would generally cost less than if you were to do so during the middle of the day. If you really want to hone in on the off-peak hours, they say between midnight and 6am is the time to do it! Now obviously that’s not ideal, but if you’re serious about saving money while charging, you’ll do what you have to do! An electric vehicle can take anywhere between 4 and 8 hours to fully charge, so if you plan it strategically, you’ll get the most bang for your buck.

Do Your Research

If you’re serious about purchasing an electric vehicle, there is lots to know when it comes to all of the specs you should consider. To get a good overview on what’s on the market right now for electric cars, you can visit FuelEconomy.gov as it’s a great resource for information on the topic.