Rates and Costs FAQs
Increased EV adoption and charging can actually help lower the cost of electricity for everyone. This is because the fixed costs associated with upgrading and maintaining the electrical grid can be spread across the added electrical usage, which will help lower the cost of electricity for all customers using the grid. This is particularly true when EV drivers enroll in a time-of-use (TOU) rate and charge their vehicle during off-peak hours.
The U.S. Energy Department has created a metric to help current and potential EV drivers better understand the cost of driving an EV called the eGallon. The eGallon represents the cost of driving an electric vehicle (EV) the same distance as a similar, gas-powered vehicle could travel on one (1) gallon of gasoline.
| Electric Vehicle (EV) | Internal Combustion Engine (ICE) | |
| Driving Range | 300 miles | 300 miles |
| Fuel Cost | $0.20 kWh | $3.65 gallon |
| Fuel Capacity | 60 kWh (battery) | 18 gallons (gasoline) |
| Average Weekly Drive | 300 miles | 300 miles |
| Number of Refuels | 1 per week | 1 per week |
| Cost | $12.00 | $65.70 |