I’m looking at my energy bill, and it’s 16c for delivery and 16c for usage, totaling 32c per kWh. If I were to consider an EV like the Ioniq 5, which gets about 4 mi/kWh, it would cost $3.20 for 40 miles of range. This is similar to what a Honda Accord Hybrid costs to drive. While environmental concerns are important to me, I was surprised by this after seeing that many people pay just 6c/kWh during off-peak hours. Are other states like this?
If your electricity costs $0.32 per kWh, then you should consider installing solar panels.
martin said:
If your electricity costs $0.32 per kWh, then you should consider installing solar panels.
The utility rate is approaching 40c/kWh here in Massachusetts. Our solar panels’ breakeven period is now close to four years. It’s a no-brainer with 1:1 net metering.
Yes, your calculation is correct. Your rate is on the high side. I pay 9c per kWh in California. How much is a gallon of gas in RI? If it’s around $3.20, then it’s comparable to a car that gets 40 mpg. However, EVs have other benefits: no gas station trips, reduced maintenance, and less price volatility for energy.
Many electric companies offer EV rates. My parents’ bill actually decreased after getting an EV, as they qualified for a better rate on all their energy usage. Also, double-check your math to ensure you’re not including flat charges, as those don’t increase with usage.
@diallo
Ask your provider if they have time-of-use or EV-specific rates. Charging your car during off-peak hours (usually 9 p.m. to 7 a.m.) can offer substantial savings. Many EV owners take advantage of these plans.
@Amelia
My utility offers a flexible plan with bonuses for allowing them to pause EV charging during peak demand. It’s worth checking if yours does, too.
Prices vary widely. In Europe, rates are often higher than in the U.S. Check with your provider for different tariff plans, especially those with off-peak rates.
EVs offer benefits beyond fuel savings, such as smooth driving and reduced maintenance. My electricity costs $0.11/kWh, so I do save compared to gas. But even at your rates, EVs have advantages if you consider other factors.
EVs bring convenience (charging at home), low maintenance, and sustainability. Still, look for lower rates or incentives. Adding solar in the future could offset costs significantly.
Those rates are outrageous! My winter rates are $0.06 off-peak, $0.03 super-off-peak, and $0.10 peak (Phoenix, AZ). Summer is $0.06 and $0.14.
MAKENA said:
Those rates are outrageous! My winter rates are $0.06 off-peak, $0.03 super-off-peak, and $0.10 peak (Phoenix, AZ). Summer is $0.06 and $0.14.
In Alberta, we pay 9c/kWh, but the fees bring the total to about 30c/kWh. It’s still cheaper than gas, though.
Rhode Island’s average electricity rate is about $0.28/kWh, according to the EIA. Your higher rate could be due to delivery charges. Look into solar or time-of-use rates to save.
Ronald said:
Rhode Island’s average electricity rate is about $0.28/kWh, according to the EIA. Your higher rate could be due to delivery charges. Look into solar or time-of-use rates to save.
In New England, both supply and delivery costs are expensive. It’s frustrating compared to other states.
Charging cost is just one consideration. EVs also offer convenience, reliability, and lower maintenance. If solar is an option, it’s a game changer.
Install solar first. The quickest way to offset your energy costs is to use solar for your EV and home.