What does it cost to “fill up” an electric vehicle? Is it really cheaper?
Data show it is—if you charge at home—to the tune of a dollar or two each day. But on road trips, the situation reverses if you stop for a fast charge. Gasoline usually wins out.
The WSJ crunched the numbers, with guidance and data from automotive and power experts at IHS Markit and Atlas Public Policy, to figure out the cost of an electric “fill up” compared with local gas prices in 15 U.S. cities.
We chose two popular cars: the 2021 Ford Mustang Mach-E and the Toyota RAV4, both compact crossover SUVs that seat five.
The all-electric Mach-E costs more up front, but qualifies for a $7,500 federal tax credit.
Some states also offer incentives to chip away at the higher cost of EVs, such as Illinois, which approved a $4,000 taxpayer-funded rebate for residents to buy an electric vehicle starting in July.
But at-home charging isn’t available to all drivers.
EV ownership is expected to grow to include more apartment and condo dwellers, who will need affordable charging—a big public-policy issue. Workplaces, apartments and spots like grocery stores are adding low-cost or sometimes free stations that charge over a period of several hours, much like home charging.
EV drivers face other costs, too, such as a 240-volt charging station, which costs around $500. Hiring an electrician can add another $500 to $1,500, according to home improvement website HomeAdvisor.
Here, too, incentives might cut costs. Los Angeles utility customers can get a $500 rebate for the EV charger, courtesy of the taxpayers.
EV drivers don’t always benefit from cheap at-home charging. If paying for fast charges at a public station, EV savings largely vanish.
In most cities, drivers will spend about $4 to $12 more to travel 300 miles in the EV.
EV proponents say more fast-charging stations, which repower a battery in about 30 minutes, are a missing ingredient for wider EV adoption.
https://www.wsj.com/articles/how-much-do-electric-vehicles-cost-to-fill-up-compared-with-buying-gasoline-11636626601