How much does it cost to charge an EV at home?

If you’ve purchased an electric car, you have done the sums and figured that the slightly higher outlay (as of 2023) compared to a petrol or diesel vehicle is worth the investment. Why? Because EVs have lower running and maintenance costs – especially when the cost of fuel has soared in recent years.

As with any innovation, being an early adopter comes with its own set of advantages and disadvantages. One of them is finding an affordable yet robust home level 2 EV charger to keep your brand-new EV charged and ready to go at all times.

The big advantage of EV ownership – home charging

Can you imagine having a petrol bowser installed in your home? This is an impossibility for petrol or diesel car owners; but for EV owners it’s part of their everyday reality. 

Every home can have an EV charging station installed to “fuel” their EV when idle. One can install an at-home charger for anywhere between $500 and $2,000 depending on the location of the charger and any modifications are required to your electrical system or surrounding structures. 

For most homes on single-phase 240V power, “trickle charging” is the only option, which delivers 2.4 to 3.7kW and takes a typical battery between five to 16 hours to reach full capacity. AC fast chargers are also available, which ramps up the juice to 7.2kW, which gives you about 44km of range every hour it’s on charge.

The costs of EV home charging

The costs of EV home charging, according to the Electric Vehicle Council, can be as little as 90% compared to the same amount of petrol or diesel per kilometre travelled. This can equate to 20c per “litre” of fuel versus the $1.90 or $2/L that service stations currently command. 

A Tesla Model 3 owner using an AC fast charger will pay a mere $25.23 in electricity over the 8 hours it takes to charge its 57.5kWh battery, using the Victorian Default Offer price. 

Other jurisdictions may reduce tariffs due to off-peak usage – and if you have solar power, you may even earn money by feeding excess power into the grid after your car is charged. Some EVs may have V2H or V2G technology allowing a car to act as a battery to power home appliances. 

Of course, each state and territory will have varying EV charging costs.

Health and safety – tripping over wires

Unfortunately, there are health and safety concerns when charging EVs at home. Cables and may be strewn about the place when charging, which presents a new tripping hazard for adults and children alike. 

Using a high visibility charging cover can help prevent slips and falls and enhance safety for your family and any pedestrian traffic that may come in and out of your home – especially if you do not have a driveway or garage available. 

If the idea of “fuelling” your car when you’re at home at a fraction of the cost of petrol appeals to you, perhaps looking at buying an EV is worth your while!