If you’ve recently purchased an electric vehicle (EV) or are considering purchasing one, you’re probably wondering whether you should purchase an at-home EV charging station. Since these charging stations have some equipment and installation costs, you might not know if they’re worth the investment. Before you make a decision, take a moment to find out how at-home EV charging stations pay for themselves.
The Costs of Charging Your EV at Home
One of the biggest draws to at-home EV charging stations is how affordably they charge vehicles. For example, the US Department of Energy found that charging an electric vehicle with an at-home station costs only $0.04 for each mile of charge if your vehicle uses 33 kWh for every 100 miles traveled and your electricity costs 0.13 per kWh. While this number can change based on your local energy costs and your vehicle, the bottom line is that at-home charging stations give you affordable energy.
Do Residential Electric Vehicle Chargers Pay for Themselves?
As you decide if an at-home electric vehicle charger is right for you, you might want to know more about what makes them a cost-effective investment. Besides an at-home chargers convenience, it’s also a smart financial decision. For example, at-home chargers are cheaper than public charging stations, can increase your home’s value, and help you reduce your battery and mileage use.
Find out more about how at-home vehicle chargers offset their initial investment costs and pay for themselves below:
- Lower energy costs than public charging stations: In general, public charging stations will be more expensive than at-home charging stations, as they’ll charge a markup for the electricity you purchase from them. While you can sometimes find free public charging stations, they’re fairly rare and can sometimes be located in parking garages that require you to pay for the time you spend parked. As a result, the savings you gain from charging your EV with an at-home charging station can exceed the station’s initial installation and equipment costs in the long run.
- Reduced mileage and battery usage: When you rely on public charging stations to charge your EV, you’ll have to drive over to them constantly to get a new charge. By having an at-home charger, you can save money by not having to pay for the energy you’d use up driving to and from a public charging station. Keeping your EV’s mileage lower can also help your vehicle stay in better shape and out of your mechanic’s garage, resulting in reduced maintenance costs.
- Increased home value: Alongside the lower costs of charging your EV with an at-home vehicle charger than relying on public chargers, EV chargers also pay for themselves by increasing your home’s value. Since more people are turning to EVs over gas-guzzling vehicles, a home with an already installed electrical vehicle charger can be very attractive to buyers. As a result, you can potentially sell your home for more when you invest in an EV charger, helping you make back your initial expenses.
Since at-home EV charging stations tend to charge your vehicle for so little money compared to public options, reduce your EV’s mileage and battery usage, and increase your home value, they can end up paying for themselves. While you’ll have to make an investment in a new EV charging station and pay for a trained electrician to install it, purchasing one of these stations is financially worth it in the long run.
Choose Bonney for At-Home Charging Station Installation and Maintenance Services in Sacramento and Concord.
When you’re looking for electric vehicle chargers in Sacramento, turn to Bonney. We can evaluate your needs, help you find an exceptional at-home charging station, and then install it for you to ensure you can charge your EV in the most cost-effective and convenient way possible. After installation, we can even assist with any maintenance or repairs you might need in the future. Learn more about our residential EV charging station services today. If you have any questions or want to schedule an appointment, please feel free to contact us.