If you're considering buying an electric vehicle (EV) like a Tesla (TSLA 4.03%), one of the biggest questions on your mind is likely the cost of charging a Tesla.
In a gas-powered vehicle, paying to fill the tank is straightforward, and gas prices are advertised everywhere. Charging an electric vehicle, on the other hand, comes with a number of options.
You can charge it at home if you install your own charging equipment. You can charge it for free in certain locations, or you can go to a charging station like a supercharger and pay to charge it. The cost can vary significantly based on where you charge, what kind of vehicle you have, and even the time of day.
In this article, we'll look at how costs vary to charge a Tesla, depending on the circumstances.
Pricing factors
Things that factor into the price to charge a Tesla
There are several variables that impact the cost of charging a Tesla. Below, we'll go through each of the major ones, one by one.
1. Where you charge
Where you charge your Tesla can be the biggest factor impacting your cost. Electricity costs vary significantly from state to state. For example, the average person in Connecticut will pay $0.22 per kWh (kilowatt-hour), which is double the roughly $0.11 per kWh that a Louisiana resident pays.
The place you choose to charge it can also make a big difference. Charging your car at home overnight is typically cheaper than charging it at a charging station on the road. You can also possibly find a place where you can charge it for free, such as at some supermarket chains or shopping centers, which allow you to charge your car for free while you shop there.
2. Which Tesla you own
Not surprisingly, the type of car you drive will also affect the cost of charging, depending on the size of the vehicle, the range, the battery size, and the efficiency.
Tesla currently has five different models on the market: Model S, Model X, Model 3, Model Y, and Cybertruck.
According to Tesla and based on the national average cost of electricity of $0.16/kWh, the chart below shows how much it costs to charge each model for 100 miles and the gas savings a driver can expect vs. a comparable vehicle.
| Model | Cost to drive 100 miles | Gas savings |
|---|---|---|
| Model S | $4.48 | $12.48 |
| Model 3 | $4.07 | $9.84 |
| Model X | $5.28 | $12.42 |
| Model Y | $4.48 | $11.12 |
| Cybertruck | $7.47 | $9.03 |
3. Which charging station you use
Costs can range significantly depending on the charging station you use. As noted above, there are free charging stations that some businesses make available to customers.
The cost to charge at a Tesla charging station is typically about $0.25/kWh, meaning a full recharge to 250 miles would cost about $22.
At other stations, charging costs can be as much as $0.50/kWh.
4. When you charge
When you charge also has an effect on the costs, since electricity costs tend to fall at night.
However, the exact amount you'll pay to charge your car when electricity demand is lower at night will depend on your local utility. Some utilities have special low rates for nighttime consumption, so check with your power company to see if you can save money by charging at night.
Charging at home
Price of charging at home
If you're considering buying a Tesla, there's more involved in the cost of charging at home than just the electricity -- you should also consider the cost of purchasing and installing your charging connection.
There are several options for charging your Tesla at home. Tesla recommends installing a wall connector, which will add up to 44 miles of range per hour and costs $420. A universal wall charger that will work with any EV will cost $550.
Another option is an adapter bundle for $245 that can plug into a 240-volt outlet like heavy-duty appliances use and charge as much as 30 miles of range per hour. Finally, you can purchase a mobile connector that will work with a standard 120-volt outlet, but it will only charge your vehicle for 2 to 3 miles of range per hour.
Installing a connection will cost an estimated $750 to $1,500, depending on the market, the residence, and the electrician. You could be paying as much as $2,000 for the charging infrastructure before you even charge your Tesla.
The chart below shows the estimated cost of charging a Tesla at home based on driving an average of 40 miles day, which is about the national average.
| Model | Annual cost |
|---|---|
| Model S | $653.76 |
| Model 3 | $599.04 |
| Model X | $777.96 |
| Model Y | $653.76 |
| Cybertruck | $1,090.08 |
Using superchargers
Price of charging a Tesla at a supercharger
If you're out on a road trip in your Tesla, you're going to need a way to charge away from home. Your best option is the supercharger, Tesla's network of fast chargers. Tesla's superchargers aren't just the fastest way for Tesla owners to charge their vehicles away from home; they're also the cheapest.
The cost of charging at a supercharger varies, but it averages around $0.25/kWh, about 50% more expensive than the average cost at home, or $22 to charge it 250 miles, which is still significantly less than the cost of gasoline.
Unless you're frequently on the road for work or some other reason, you'll likely do most of your charging at home.
Using other chargers
Price of charging at other networks
Charging your Tesla outside of the supercharger network is also an option, including networks like ChargePoint (CHPT -15.98%) and Electrify America.
Charging at Electrify America varies depending on the state, and it's cheaper with a membership. Without a membership, fully charging a Model 3 will cost an estimated $21.50 for a full charge or $15.50 with a membership. Charging with a supercharger would be approximately 19% cheaper at $12.50.
ChargePoint chargers are independently owned, and each station owner decides how much it costs to charge your EV so there's no straight rule on how much it costs. Many ChargePoint chargers are free, and including free charges, the average to charge a Tesla at Chargepoint is typically just around a dollar.
The amount of time to charge with a ChargePoint will depend on whether you're using a DC Fast/Level 3 charger, or a Level 2 charger.
Teslas vs. gas vehicles
Charging a Tesla vs. fueling a gas vehicle
No matter how you charge your Tesla, paying for a charge is going to cost less than the equivalent amount of gas unless gas prices fall sharply or electricity prices soar.
Once you pay the estimated $1,200 to $2,000 to set up a charging connection at home, you'll make up the difference in about a year.
The chart below shows the cost to charge a Tesla 40 miles a day for a month and the estimated gas savings.
| Model | Charging costs | Estimated gas savings |
|---|---|---|
| Model S | $54.48 | $151.96 |
| Model 3 | $49.92 | $119.66 |
| Model X | $64.83 | $151 |
| Model Y | $54.48 | $135.44 |
| Cybertruck | $90.84 | $107.16 |
Related investing topics
Should you buy?
Should you buy a Tesla?
The kind of car you buy is a personal choice, and you'll want to consider what suits your needs beyond just charging costs.
However, if you're wondering if you'll save money on gas by owning a Tesla, the answer is very likely yes. If you drive about 14,000 miles a year (the national average), you'll save close to $2,000 a year on fueling.
While there are upfront costs to buying and installing a charging connection, you should be able to recoup those fairly quickly, and you'll even save money vs. gasoline when you're out on the road and charging at a supercharger or another network.
From a fueling perspective, the ideal use for an EV is as a commuter car so you can charge it every night at home. Additionally, you won't have to worry about finding a charger or waiting while your car charges.
FAQs
Tesla charging costs: FAQs
How much does it cost to charge a Tesla at a charging station?
Charging a Tesla at a charging station can be free at some stations or as little as a dollar at a ChargePoint charging station. At the most expensive, charging can cost up to $0.50/kWh, although that is still less than you would pay for the equivalent in gas.
Is charging a Tesla cheaper than gas?
Yes, charging a Tesla is almost always cheaper than gas. If you're charging at home, charging your Tesla will cost about a quarter of the equivalent amount of gas.
Can I charge my Tesla for free?
There are some stations in the parking lots of supermarkets and shopping centers that offer free EV charging while you shop.
How many miles is a full charge for a Tesla?
The range varies depending on the Tesla model. At the low end, the Tesla Model 3 RWD has a range of 272 miles, while the Model S gets an estimated range of 402 miles.
