Costs Associated with Installing a Home EV Charging Station

A Growing Industry

As the electric car industry is growing in modern times, more and more people are wondering how they can get one themselves. Some are worried about the costs associated with owning an electric vehicle, such as installing a charging station at home. Though it may be a little more expensive upfront to own an electric car, it can save you money in the long run. While there are some upfront costs when buying an EV, the money you save in gas and maintenance can save you in the long run. This article will look at the different costs associated with installing an electric car charging station at home.

The Unit Itself

The first cost you should expect when installing an EV charging station at home is the charging station itself. Although, the government offers a tax credit called the Alternative Fuel Vehicle Refueling Property Credit to offset the costs of residential charging stations. If you qualify, up to 30% of the cost of the charger plus installation could be credited.

Level 1:

This is the most simple level of charging station you can have at your home. Though level one takes over 30 hours for a full charge, it is the cheapest unit. On average, level 1 has a charging rate of about 3-5 miles/hour and needs 120V to be powered. Level 1 is the standard unit seen for residential use as it can be plugged into a standard outlet. This is a good option for EV car owners who do not travel far for work. A level 1 EV unit will cost anywhere from $300-$600. If you plan to drive your EV daily you may outgrow level 1 quickly.

Level 2:

This is the middle-level unit of EV charging station available. Level 2 can be used for both residential and commercial use, though it will need more electricity to power. Typically, this level needs around 240V to be powered. On average, it takes around 8-12 hours to fully charge your EV at a speed of 20-44 miles/hour. A level 2 EV unit will cost between $400-$1,400. Some of the features of level 2 units include Wi-Fi, app scheduling, energy tracking and utility demand-response programs.

Level 3:

This type of unit is seen really only for commercial use, as it takes much more power to run. When using a level 3 EV charging unit you can get almost a full charge in just 30 minutes. It changes at a rate of 3-13 miles/minute and needs over 480V to charge. Though a level 3 EV unit is not residential, it will cost anywhere from $15,000-$50,000 You can read more about the differences between Level 1, 2, and 3 EV charging stations in our Home EV Charging Station Guide.

Installation

The next cost associated with an EV charging unit is the installation cost. This will range in price depending on the quality of the professional team that installs your unit.

Self Installation

We never recommend doing any electrical work yourself. Always contact a professional electrician for EV station installation.

Professional Installation

Depending on the level of unit you are installing, you may need a professional’s help. This is because a standard outlet may not be enough power to run your EV charging unit. Hiring an electrician will help get you the voltage you need to power your unit. The price of hiring professional help to install your EV unit can be broad. Many little factors will fluctuate the cost such as how much power your home can already have, the labor involved, the location, and materials. Any electrician will do their best to provide you with a quote of what to expect before the installation begins, but costs can be anywhere from $500-$1,200 with a simple install or $1,500-$3,500 with a panel upgrade or long conduit runs.

Hidden Costs

When installing a residential EV charging station, always be aware of the costs that might not be directly related to the charging unit itself. Below are some hidden costs that may come up when installing a charging station:

• Garage alterations
• Wi-Fi capabilities
• A new electrical panel
• Pedestal Kit
• Utility Service Upgrades
• Load management devices

These hidden costs may come up when trying to install an EV charging unit as your home may not be equipped to have one. Upgrades to your garage, electrical panel, and Wi-Fi may need to happen to support an EV charging station.

Electricity Use

The cost with this depends on both the charging unit and how often you charge your vehicle. Those living with Fairfield County electric rates report that their monthly bill increased around $25-$60 per month. Though some might not enjoy the monthly charge, keep in mind that you will no longer be paying for gas at the gas station.

Repairs

The last main expense that comes along with an at-home EV charging station is possible repairs and maintenance to keep your station working properly. Below are some common repairs for EV stations:

• Issues with the unit battery or electrical connection
• Problems with the charger plugin
• The unit not charging your car

Additionally, a routine check-up on your charging station is a good idea to ensure the system appears ok physically. Though it depends on the brand of charger, the level, and what the issue is that needs to be fixed. Usually chargers are under warranty for 3-5 years. If not, maintenance typically costs around $200 annually.

How Can Electrical Vehicles Save You Money?

Though it may be a little pricy purchasing an EV and a charging unit in the beginning, you can actually save money in the long run. Below are ways EV’s can save you money:

Gas Prices

If you own an electric vehicle, you won’t need to worry about filling up your gas tank. This also means there is no need to stress about the growing gas prices in the U.S. Rather than filling your car with gas, you simply will need to plug it into your charging station for it to run. EV owners can save up to $1,500 a year not having to fuel a vehicle.

Fewer Maintenance Costs

Electric vehicles actually need fewer repairs and maintenance than the average gas-powered car. As there is no fuel that runs through the car, and no combustion engines with many parts, EVs don’t have many parts that need to be checked annually. This means that maintenance costs will be lower when you own an EV.

You Can Generate Your Own Electricity

Some people may not want an EV due to the rising cost of your electricity bill when you need to charge your car. If this is a concern, you can install solar panels in your home to generate your own electricity. This would mean you would save money on gas and electricity when it comes to getting your car to run.

Incentives and Rebates

The federal government offers tax credits that apply to residential EV charging stations. It is important to note these do not work the same way everywhere but they can lower upfront costs. If you live in a rural area or a low income census tract you may qualify. If you do you can receive a tax credit of 30% of the total cost of the charger.

Ongoing costs: electricity, maintenance, repairs

Ongoing costs are determined by how often you use your EV. Once a charging station is installed ongoing costs are low compared to a gas-powered vehicle. There isn’t oil to change, an engine to service, or gas to fill. Most EV owners can expect their electric bill to increase by $25-$60 depending on utility rates and mileage. Charging stations have few moving parts which means lower maintenance costs. Although, when repairs are needed costs can be steep if the warranty has expired.

To Recap

Though the costs associated with EV charging stations may be pricy at first, you have to think about the money you can save in the long run. If you need help deciding which station works best for your needs, call the Fairfield County EV Experts. Our professionals will work with you to find the best charging station, as well as install this unit for you to ensure your car will be charged whenever you need it.

Frequently Asked Questions