Electricity may be clean but it’s not free. Until a way is found to grab it out of the atmosphere, some energy source must be consumed to run the turbines that generate it. And in case you haven’t noticed, the main sources of that energy especially natural gas, have become much more expensive to extract, process, and deliver. That includes prices charged by resellers of energy from gasoline stations and utility companies to retail charging stations for electric vehicles.
The Soaring Costs of Retail Superchargers
Retail EV charging stations cost a lot of money to build. With consumers demanding shorter charging times, the retailers need to install extra-high-voltage Level 3 DC “superchargers” to keep charging to a manageable time. Those costs must be recovered and along with the cost of the energy they buy must be marked up enough to justify a sufficient profit to stay in business. Add to that the fact that most retail charging takes place during expensive peak demand times for electricity and the cost of refueling an EV is approaching the cost of a tank of gasoline, even at today’s soaring prices.
Home Chargers Bring Costs Down. Often a Lot
Besides saving time stopping at a retailer to charge up your EV, home chargers are typically used overnight when electricity costs can be significantly lower than peak hours, especially in the summer when rates are at their highest.
Installing a Level 2 (240 volt) home charging station can run from a few hundred to a few thousand dollars, depending on the electrical work needed. If your home was built in Denver or many other metropolitan cities, it may simply be a matter of running a dedicated 240-volt line through existing conduit to an outlet point in a garage or carport. This provision has been required by building codes in many areas for the past several years.
Older homes, especially those with detached garages, will require additional work to route the 240-volt wiring to the charging point. But even those added expenses are recovered by energy cost savings, time, and convenience. Plus, it adds value to a home when it comes time to sell.
Home Chargers Make Sense
Adding a home EV charging station makes a lot of sense for homeowners. It lets them charge their vehicle(s) conveniently at home, letting using their time better and avoiding the hassle and expense of using commercial charging stations where costs can 5-10 times what you pay at home.
Allstar Electrical Services has installed dozens of EV charging stations in homes, parking garages, and at businesses with multiple EV fleets. We’ve helped Coloradans increase efficiency while adding comfort and convenience to their homes and businesses for over 20 years.
For an estimate on installing a home EV charger or to learn more about the many ways upgraded electric services and emerging technologies can improve your home or business, schedule an appointment our website or give us a call at 303.399.7420.