As more businesses adopt electric vehicles (EVs) in their fleets or offer workplace charging for their employees, it’s essential to consider the cost of running an EV charger. The cost of running an EV charger will depend on several factors, including the charger’s power level, the number of charging sessions, and the cost of electricity in your area. In this blog post, we will provide an overview of the average monthly electricity cost to run a workplace EV charger.
Calculating the Monthly Electricity Cost
The monthly electricity cost to run an EV charger will depend on the power level of the charger, measured in kilowatts (kW), and the number of charging sessions. For example, a Level 2 charger with a power rating of 19 kW can fully charge a typical EV in around 4 hours. Assuming that the charger is used constantly during an eight hour business day, the total energy consumption will be:
Energy consumption = power rating x hours of use
Energy consumption = 19 kW x 8 hours
Energy consumption = 152 kWh
The cost of electricity will vary depending on your location and the utility company you use. The national average cost of electricity in the United States is around $0.12 per kWh. Using this average cost, the monthly electricity cost to run a Level 2 charger for eight hours a day would be:
Monthly electricity cost = energy consumption x cost of electricity x number of days in month
Monthly electricity cost = 152 kWh x $0.12/kWh x 30 days
Monthly electricity cost = $547.20
Factors that Affect the Electricity Cost
Several factors can affect the electricity cost to run a workplace EV charger, including:
- Power Level: The higher the power rating of the charger, the more electricity it will consume, and the higher the monthly cost will be.
- Charging Sessions: The number of charging sessions will affect the electricity cost. If the charger is used frequently, the monthly cost will be higher.
- Time of Use: Some utility companies offer different rates for electricity depending on the time of use. Charging during peak hours can be more expensive than charging during off-peak hours.
- Location: The cost of electricity varies depending on your location and the utility company you use. Some areas have higher electricity costs than others.
The average monthly electricity cost to run a workplace EV charger will depend on several factors, including the power level of the charger, the number of charging sessions, and the cost of electricity in your area. It’s essential to consider these factors when planning to install EV chargers at your workplace to ensure that you have an accurate estimate of the electricity cost. By understanding the electricity cost, you can make informed decisions about the type of EV charger to install and whether to offer free or fee-based charging.