What Does it Cost to Charge an LEV?

June 17th, 2022 by

To find the exact cost of charging an LEV, you will need to calculate the cost of electricity in kWh in your area. Costs will also depend on the efficiency of your LEV’s battery and charge range. It is generally true that switching from a gas engine car to an EV will save you money. At Ray Catena Auto Group, the local LEV experts, we’ll help you understand every aspect of LEV cost of ownership.

For many drivers, concerns over sustainability are the primary motive to switch to electric vehicles. But people also want to know about the costs of charging an EV. Does the dependence on electricity save money compared to oil? Exactly how much it costs to charge luxury electric vehicles depends on a number of factors. Here’s everything you need to know about calculating the potential cost of charging your EV.

Cost per kWh

The easiest way to measure the price of electricity is in kilowatt-hours (kWh). This cost fluctuates over time and varies from state to state. According to the U.S. Energy Information Administration, the average household nationwide pays 13.73 cents per kWh as of January 2022. However, New York state households pay 21.01 cents per kWh, while New Jersey pays 16.32. 

LEV Mileage

Once you know the cost of electricity, the next step is calculating your mileage. Obviously, the more you drive, the more you will spend on charging your EV. In order to calculate a rough estimate of your charging costs, you should know your EV’s battery capacity in kWh. Your charging cost can then be calculated by multiplying your battery’s kWh by the cost of electricity in your area. A few examples of different LEV battery and charge costs are provided below.

Mercedes-Benz EQS

Mercedes EQS LEVA Mercedes-Benz EQS has one of the most powerful batteries available in any LEV, with a capacity of 107.8 kWh.

You can calculate the cost to fully charge the battery in New York state by multiplying 107.8 (kWh) by 0.21 (cost of kWh in NY). The result is $22.64 to fully charge an EQS in New York.

However, for more precise measurement, you can also use your EV battery’s kWh per 100 miles. The EQS gets an estimated 29.5 kWh per 100 miles. This equates to $6.19 per 100 miles in New York.

MINI Cooper SE

Mini Cooper SE Luxury Electric VehicleThe MINI Cooper SE has a smaller battery than the EQS, at 32.6 kWh. This means it costs just $6.85 to full charge the MINI Cooper SE in New York. However, the SE gets fewer miles on a full charge than the EQS. With 31 kWh per 100 miles, the SE would cost $6.51 per 100 miles of charge in New York.

Savings

Calculating the exact savings from making the switch from gas to electric has even more variables. The fluctuating cost of gas is one complication. So is finding an electric vehicle and gas engine car that are perfectly comparable in fuel efficiency. For a rough comparison, the Buick Encore is one of the most fuel-efficient gas SUVs on the market. Based on the average cost of gas in New York, the Encore would cost approximately $16.27 to fill per 100 miles. So the Mercedes-Benz EQS saves roughly $10 per 100 miles over the most fuel-efficient gas SUV. Over the course of a year, you could be saving hundreds of dollars by switching to electric.

Ray Catena is your trusted local leader in luxury automotive – and now we’re the foremost experts in LEVs as well. Visit us and take a test drive – you’ll be impressed with the performance of Electrified Luxury.

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Posted in Electric