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The Cost (And Savings) Of Installing A Home Electric Vehicle Car Charger

Can you envision a world where you never have to stop at a gas station to fill up your car? Not only is this possible, but also you will actually experience more freedom and save money. This is the reality for most electric vehicle (EV) owners. However, if you don’t have a way to charge your car at home, you might still have to worry about stopping at a public station to charge up. While that will still save you money compared to purchasing gas, it isn’t as convenient as having the ability to charge your car at home. At-home charging stations are fairly easy to install, an investment in your quality of life, and a way to save yourself a decent amount of money in the long term.

What is a home EV charger and how does it work?

An EV charger like the Loop chargers make it more convenient than ever to charge your car while you wait in the comfort of your own home. Much like your cell phone or laptop, the at home charger will pull electricity from an outlet or the grid it is connected to and will transfer the power to your car. 

There are two different levels of charging common for residential use: level one and level two. Level one charging is when you plug your EV charger into a standard 120 volt outlet. This can take up to several days to fully charge your vehicle depending on the range for your particular vehicle. Level two is more common and quite a bit faster. Level two charging is through a 240 volt outlet. As an example, a Chevrolet Volt would take 13 hours to charge fully with level one charging but under two and a half hours to charge fully with level two charging. 

What does it cost to install an EV charger?

Of course, the cost is going to vary depending on which level of charger you are purchasing, as well as what is needed to get it installed correctly in your home.

Level One Charging

Level one charging is going to be the least expensive option, frequently coming with your vehicle when you purchase it. It plugs directly into your outlets at home, so there is no need for an adapter or adjustments. If you wanted to purchase a replacement level one charger, it would likely cost around $300. 

Level Two Charging

A level two charger in itself is going to cost a little more, and you could be looking at some modifications to your home as well. Level two charging has more of an upfront cost. The price range for a level two charger varies widely from $300 to $1,200 on average. Most of these chargers come with a variety of different amenities you don’t get on a level one charger, such as wifi to keep track of your charging progress. 

Level two charging stations are most often installed by electricians. On top of the cost of the unit itself, you are looking at paying an electrician for labor costs, too. This can range greatly depending on where you want your charger to be installed and if you want it mounted or not. It could cost an additional $420-$800 for the labor. 

Of course, this isn’t just money most people have laying around, but in the long run, this is an investment that will pay off relatively quickly. This kind of investment gives you more freedom to charge where you live without having to worry about finding a public charging station. This makes it more convenient for you to get around and ensure your car doesn’t run out of charge. 

How much can an at home EV charger save me?

Savings vary from place to place, but in general, it is cheaper per month to charge your EV than to fill up a car with an internal combustion engine.

According to Kelly Blue Book, the national average for monthly gas costs is about $164. This varies depending on the location and type of car you drive, becoming more expensive the larger the vehicle and the less miles per gallon rating. If you were to drive the average amount of miles a US citizen would drive, your EV charging cost would be around $55 per month. That’s a difference of over $100 per month just in the cost to fuel/charge your vehicle. 

If you consider the high end of the range for Level Two chargers (since that is the most common), you would be looking at a $2,000 investment. With $100 of savings each month, it would take less than two years to earn your investment back in savings and begin solely saving in cost. The lower end would cost $720 and would take less than a year to earn back your investment and begin saving money. 

Considering long term savings of EV charging at home and the fickle gas prices, purchasing an at home charger makes a lot of sense for many EV owners. 

At home charging stations are fairly easy to install, an improvement in your quality of life, and a way to save yourself a decent amount of money long term. Just think! You may never need to stop at a gas station ever again.

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