When electric vehicles first hit the market, the benefits of driving one were numerous. While their range was originally somewhat limited, these restrictions were offset by the cheap cost of charging and all of the other benefits EVs can provide, including their reduced impact on the environment.
However, as EVs have become more prevalent, some are beginning to wonder whether getting an EV is really a more budget friendly option. Not only is there opportunity cost in the time spent charging, as EVs can take a considerable amount of time to refill, but some are finding that charging their vehicle costs more than they expected. For example, one internet user said they paid $15 for their car to charge just 10% of its battery.
Now, a TikTok user’s video on her monthly energy expenses for her cars has people talking about the finances of EVs.
How much does it cost to charge an EV at home?
In a video with over 183,000 views, TikTok user Ruby (@larubyacevedo) says that her energy costs for the month, which includes charging two cars nightly and is subsidized by solar panels, equals around $130.
“We drive about 80 to 100 miles per day, so as soon as we got home, we charged,” she explains. “We only charged between 9 p.m. and 8 a.m. That’s off-peak hours, and we have solar panels in our house, and we installed two chargers, so there is a lot of electricity used per night.”
Using these numbers, one can determine just how much these EVs are costing Ruby compared to a gas car.
Is it cheaper to drive an EV than a gas car?
Using the most conservative estimates possible, each car drives 80 miles every day over the course of 30 days. As she said her energy bill is $130 per month, that can be divided into a total cost of approximately $4.33 per day per car.
According to the most recently available statistics, the average car gets around 24.4 miles to the gallon of gas, and the current national average cost of a gallon of gas is $3.134.
This means that, for every dollar spent on gasoline, the average car in the USA can travel around 7.79 miles. In contrast, using the most conservative estimates that assume that all of her electrical usage comes from just charging her two cars, Ruby’s setup allows each car to travel 18.48 miles per dollar spent.
This appears to follow national trends. As noted by the Zero Emission Transport Association, “gas-powered vehicles are 3-5 times more expensive to drive per mile than EVs. In several states (including Arizona, Florida, Nevada, North Carolina, Ohio, Tennessee, and Virginia), EVs can be driven at just 15-20% of the cost of gas-powered cars per mile.”
Naturally, these are not the only costs that need to be factored in, as Ruby notes in a separate video that her home charging setup required a significant financial investment.
Still, in their assessment of the EV marketplace of 2022, Car and Driver found that some EVs were cheaper to own than their gas counterparts, though this information is subject to change as the market adapts to these vehicles.
@larubyacevedo My electric bill charging 2 cars over night #teslacharging #homecharging #tesla #teslamodely #teslatok #solarpanels ♬ original sound – Larubyacevedo
Commenters share their EV thoughts
In the comments section, users shared their mixed views on electric vehicles.
“Sorry, you’re not gonna convince me this is the wave of the future,” wrote a commenter.
“I charge my Tesla everyday at home. My bill went up like $30. I drive around 60-80 miles per day. My electric company also gives me an incentive to charge during off peak hours,” noted another.
“We have solar and model X . Charge twice a week. Electricity bills these Fall months 40-50 a month. Summer time higher as we run A/C,” detailed a third. “We save 2k a year on electricity and 3k a year on gas.”
The Daily Dot reached out to Ruby via TikTok DM and comment.
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