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What Does It Cost To Charge a Tesla at Home in Lynchburg?

Over the past year the Lynchburg area has seen record high gas prices. As of December 2022, gas prices are hovering above $3 a gallon. While it goes without saying that you’ll save money every time you charge an electric car rather than filling up a gas-powered car at the pump, EVs are a major investment. So how much money can you expect to save every month by charging an EV at home compared to buying gas in Lynchburg?

The first thing you’ll need to determine is the price per kWh you’re paying for electricity. You can find this cost on your electric bill. The average residential electricity rate in Lynchburg is 10.71¢/kWh. (12/5/2022), which is well below the national average of 15.42¢/kWh.

Next, you will need to consider the cost to charge the EV’s battery, based on its capacity in kWh. A 2022 Tesla Model 3 Standard Range, single-motor RWD, has a 50 kWh battery capacity. Using a Level 2 home charger the cost to charge the battery would be around $6. It has an EPA-rated top range of 272 miles. By comparison, the 2022 Tesla Model 3 Long Range has an 83 kWh battery. It will cost around $10 to charge using a Level 2 charger at home. It has an EPA-rated top range of 358 miles.

Monthly Cost, Gas Versus Electric Car

The average EV can travel around 4 miles per kWh. If driven 1,000 miles a month, it will take at least 250 kWh to maintain the charge. At $0.13 per kWh, charging your vehicle will cost you approximately $32.50 a month ($390 annually). By comparison, a gas powered vehicle that gets 25 mpg and is driven 1,000 miles a month will cost $124 a month ($1,488 annually) when paying $3.10 for a gallon for gas.

Keep in mind that the cost of charging an EV at home can fluctuate depending on the time of day and the type of charger that’s used. Other factors such as battery technology, temperature, and battery age will affect the EV’s actual range.

If you’re considering purchasing a Tesla or other EV, Hickey Plumbing Air and Electrical can professionally install an EV charging station in your home. Call us today to schedule an appointment.[/vc_column_text][/vc_column][/vc_row]