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The Real Cost Savings of Charging Your EV at Home

  • Angela Pender
  • Jun 11
  • 2 min read

Electric vehicles (EVs) are gaining serious momentum across Florida, and for good reason. With gas prices on the rise and cleaner options more accessible, more homeowners are asking the big question: Is it really cheaper to charge your EV at home?


The answer is a strong yes, and the savings can be more significant than you might expect.


What Public Charging Really Costs

Public charging stations are handy when you’re on the road, but they aren’t cheap. Most fast chargers (DC fast charging) charge $0.40 to $0.50 per kilowatt-hour (kWh), nearly triple the average residential electricity rate in Florida.


Let’s say your EV has a 60 kWh battery. A full charge at a public fast charger would cost you $24 to $30, depending on the provider. Add in idle fees or service charges, and the cost climbs even more.


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How Much Does It Cost to Charge at Home?

Charging the same 60 kWh battery at home in Florida, where the average residential electricity rate is about $0.1509/kWh, would cost just $9.05.

That’s less than a third of the cost of public charging.

To break it down further:

  • At-home charging: ~$0.05 per mile

  • Public fast charging: ~$0.15 per mile(Based on typical EV efficiency of 3 miles per kWh)


Annual Savings: A Clear Advantage

Let’s run the numbers for a typical EV driver who puts in about 1,000 miles a month:

  • Home charging: ~$50/month → $604/year

  • Public fast charging: ~$150/month → $1,798/year


That’s over $1,100 in savings every year, just by plugging in at home.

If you’re able to take advantage of off-peak electricity rates or solar panels, your savings could be even higher.


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Beyond the Dollars: Extra Perks of Home Charging

It’s not just about the cost. Charging your EV at home also brings a whole list of lifestyle benefits:

  • Convenience: Plug in overnight and wake up to a full battery

  • No more waiting: Skip the lines and detours to public stations

  • Battery longevity: Level 2 charging at home is easier on your EV battery

  • Monthly predictability: No surprise costs or inflated charging rates


Weighing the Upfront Cost

A Level 2 home charging station typically costs between $800 and $1,500 with installation. While that’s an upfront investment, the long-term savings usually pay it back in 1 to 2 years.

Don’t forget to check for federal tax credits or local utility rebates, they can help reduce installation costs significantly.


Get It Done Right with a Licensed Electrician

EV chargers draw serious power, so it’s important to have your setup installed safely and correctly. Goodyear Electric has over 17 years of experience installing residential and commercial electrical systems across the Florida Panhandle.


We handle:

  • Panel evaluations

  • Permit requirements

  • Smart charger integration

  • Clean, code-compliant installs you can count on


Start Saving Today

If you already own an EV, or you’re planning to buy one soon, there’s no better time to upgrade your home with a dedicated charger. You’ll save money every month, increase your home’s value, and enjoy the freedom of fueling up on your own schedule.


Ready to make the switch? Contact Goodyear Electric today for a free estimate on EV charger installation.



 
 
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