Convenient Charging for About Three Cents per Mile

Save time – and money – by skipping the gas station and just plug-in at home.  Studies show that overnight charging meets most EV drivers’ needs, and powering your plug-in vehicle with electricity costs an average of about three cents per mile when charging at home. 

While exact prices will depend on driving habits and local electricity rates, if you’re like the majority of Americans and drive less than 40 miles a day, it should cost about $1 to 1.50 a day to charge your vehicle overnight. 

There are also rapidly growing options to charge your EV at work or on the go.  The US Department of Energy has information about organizations that offer workplace charging for their employees and the charging station locator can help you find a spot to plug-in while you’re out and about

Electricity Costs vs. Gasoline

Consumer Reports explains that “electric cars use far less energy than gasoline-powered cars, generally cost about a third as much as a gas-powered car to run, and often have lower maintenance costs.” According to the US Department of Energy (DoE), the average cost of charging a plug-in vehicle in the United States is about half the costs of filling a tank of gasoline.  Since prices for gasoline and electricity rates vary by state, DoE launched the eGallon tool to help consumers compare the benefits of electric vehicles by calculating regional costs. Find out more at www.energy.gov/eGallon. Additionally, DoE offers a price to buy calculator to help crunch purchase costs.

Electric Drive Keeps Energy Dollars in the United States

Since electricity is domestically produced, driving plug-in vehicles give drivers a choice in where they spend their transportation dollars. Driving an EV lets consumers keep their energy dollars at home – and out of the hands of OPEC. 

Stable Electricity Prices

Keeping a close eye on your budget? Domestic electricity prices are far more stable than gasoline prices, even taking into account record US oil production. We control our own electricity supply – prices aren’t subject to global market fluctuations or OPEC’s actions – giving families and businesses more certainty in what it will cost to drive.

Even with increased domestic drilling, the gasoline you buy at the local station is subject to the pricing of the global market. A statistical analysis of 36 years of monthly, inflation-adjusted gasoline prices and U.S. domestic oil production by the Associated Press shows no statistical correlation between how much oil comes out of U.S. wells and the price at the pump.

Electric Drive Helps to Grow the American Economy

Reliance on a single, globally traded monopoly fuel threatens our economic growth and national security, while electric drive offers a choice for powering the nation’s transportation sector – driving investment across the economy, improving US competitiveness and creating jobs.  The US should be a leader in the global race to lead the development of electric drive technologies, including advanced batteries and electric vehicle supply equipment. If we fall behind, we’ll lose our edge over foreign investors and competitors in this rapidly-expanding part of the global economy.