How to Calculate EV Charging Costs: The Simple Formula
Quick answer: Divide your monthly miles by your EV’s efficiency (miles per kWh), then multiply by your electricity rate ($/kWh). Formula: (miles ÷ mi/kWh) × $/kWh = charging cost. Add ~10% for charging losses on home AC charging. Example: 1,000 miles at 3.5 mi/kWh and $0.17/kWh costs about $53/month at home. Key takeaways The formula…
