How does charging my EV at home affect my utility bill?

The cost of charging your EV at home depends on your local utility rates and how often you charge. For instance, in December 2023, the average electricity cost for Los Angeles residential customers was 28.8 cents per kWh. Let's assume a 40 kWh battery and a Level 2 charger delivering 7.2 kW at 30-amps. Charging the EV would take about 6 hours, using approximately 40 kWh, costing around $11.50. Multiply this by your monthly charging frequency to determine the added amount to your electricity bill. Charging during off-peak hours is typically the most economical option.