How Much Does It Cost to Charge an EV?

Charging Cost Formula
Charging Cost = (VR/RPK) x CPK
In this situation, VR refers to Vehicle Range, RPK refers to Range Per Kilowatt-hour (kWh), and CPK refers to Cost Per Kilowatt-hour (kWh).
“How much does it cost to charge at ___?”
Once you know the total kilowatts needed for your vehicle, you can start thinking about your own vehicle usage. Charging costs can vary depending on your driving patterns, season, type of chargers, and where you typically charge. The US Energy Information Administration tracks the average prices of electricity by sector and state, as seen in the table below. 

Charging your EV at home
If you own or rent a single-family home with a home charger, it’s easy to calculate your energy costs. Simply check your monthly utility bill for your actual usage and rates. In March 2023, the average price of residential electricity in the United States was 15.85¢ per kWh before increasing to 16.11¢ in April. Idaho and North Dakota customers paid as little as 10.24¢/kWh and Hawaii customers paid as much as 43.18¢/kWh. 

Charging your EV at a commercial charger
The cost to charge at a commercial EV charger  can vary. While some locations offer free charging, others use an hourly or kWh fee, but beware: your maximum charging speed is limited by your onboard charger. If your vehicle is capped at 7.2kW, your Level 2 charging will be capped at that level.
Duration-based fees: At locations that use an hourly rate, you can expect to pay for the amount of time that your vehicle is plugged in.
kWh fees: At locations that use an energy rate, you can use the charging cost formula to estimate the cost to charge your vehicle.
However, when using a commercial charger , there might be a markup on the electricity cost, so you need to know the price the station host set by the host. Some hosts choose pricing based on the time used, others may charge a flat fee for using the charger for a set session, and others will set their price per kilowatt-hour. In states that do not allow kWh fees, you can expect to pay a duration-based fee. While some commercial Level 2 charging stations are offered as a free amenity,  notes that “the cost for level 2 ranges from $1 to $5 an hour” with an energy fee range of $0.20/kWh to $0.25/kWh.
Charging is different when using a Direct Current Fast Charger (DCFC), which is one reason why many states are now allowing kWh fees. While DC fast charging is much quicker than Level 2, it is often more expensive. As noted in one National Renewable Energy Laboratory (NREL) paper, “charging price for DCFC in the United States varies between less than $0.10/kWh to more than $1/kW, with an average of $0.35/kWh. This variation is due to different capital and O&M cost for different DCFC stations as well as different cost of electricity.” In addition, it’s important to note that you cannot use a DCFC to charge a plug-in hybrid electric vehicle.
You can expect to take a few hours to charge your battery at a Level 2 charger, while a DCFC will be able to charge it in under an hour.