How much does it cost to charge an electric car at home?
Sometimes people who are new to electric vehicle (EV) ownership are surprised to see how much it costs to keep their vehicles fully charged.
The cost of charging an electric car will almost always be lower than the cost of buying gas. However, there are ways to lower your EV charging cost even further and save even more. In this article, we’ll discuss how to maximize your savings by using Time-of-Use Rates in Ontario, solar power, and other tricks to reduce the cost of charging your electric car.
The cost of charging your electric car using grid power
So what is the average cost of charging an EV with grid power in Ontario? The cost to charge an electric vehicle (EV) at home typically falls around $4 for every 100 km driven. Most Ontario EV drivers can expect a $50 increase in their monthly electricity bills due to EV charging costs.
But of course, these numbers are subject to change based on where you live, how much you drive, what EV type you have, and other variables. The table below can help you get a better sense of what your monthly EV charging costs will be based on your Ontario hydro rate structure and how much your drive.
Average Monthly Electricity Costs in Ontario
| Electricity Rate | No EV | EV, Light Usage | EV, Medium Usage | EV, Heavy Usage |
| Time-Of-Use | $125.06 | $136.10 | $147.19 | $169.31 |
| Ultra low | $130.17 | $135.92 | $141.43 | $152.77 |
| Tiered | $121.97 | $136.69 | $151.41 | $180.85 |
| Average | $125.73 | $136.24 | $146.68 | $167.64 |
It’s difficult to give concrete number since every EV and charging unit is different, but we’ve put together some key factors you can use to gauge if going solar is worth it for you:
- It costs approximately $4 to charge your EV for every 100 km driven,
- Charging your EV at home in Ontario can increase your electric bill by as much as $50 each month depending on where you live and how much you drive.
- It costs about $660 per year or $55 per month to charge an EV using grid power, assuming you drive 20,000 km per year, and charge your car mostly at home during off-peak hours at 8.7 ¢/kWh
- Installing solar panels can give you around 10,000 FREE km in any given year.
Factors that impact EV charging cost
It’s difficult to give hard numbers when it comes to energy costs because there are so many changing variables. Aside from your location and utility rate structure, your EV charging cost can be affected by several additional factors, such as:
- Charging speed – Faster chargers consume more electricity and may incur higher charging costs. However, faster chargers can also be more efficient and save more in the long run.
- EV battery capacity – Larger batteries require more energy to charge and will therefore contribute to higher electricity bills in some cases.
- Price of the charging station – You also need to consider the cost of installing the charging station and how that will affect your overall savings. Take note of EV incentive programs in Ontario that can lower the total price.
If you are interested to learn how to install an EV charger at home or how you can reduce your electricity costs in Ontario with solar power, please contact us for a free no-obligation quote!
