Home EV Charger ROI Calculator
Charger & Installation Costs
Level 2: $400-$800
Typical: $800-$2,000
Up to $1,000 (check eligibility)
Electricity Rates
US avg: $0.13/kWh
Typical: $0.25-$0.50/kWh
Vehicle Usage
Typical: 3-4 mi/kWh
% of charging at home
How to Use This Calculator
Calculate whether installing a home EV charger makes financial sense compared to relying on public charging stations. ROI depends on your driving habits, electricity rates, and installation costs.
Charger Types:
- Level 1 (120V): Uses standard outlet, 3-5 mi/hr charge rate, free (included with car)
- Level 2 (240V): Requires installation, 15-40 mi/hr charge rate, $400-$800 + install
- Level 3 (DC Fast): Public only, 180+ mi/hr, not for home use
Installation Cost Factors:
- Distance from electrical panel to garage ($50-$100 per foot of wiring)
- Panel upgrade if needed ($1,000-$3,000)
- Permits and inspection ($100-$500)
- Labor costs (varies by region and electrician)
Tip: If you drive less than 10,000 miles/year or have free workplace charging, a Level 1 charger (standard outlet) may be sufficient and costs nothing to install.
Use this home ev charger roi calculator to compute electric vehicles results from your inputs.
Formula
Total investment = Charger cost + Installation cost Public charging cost/month = Public rate × kWh per charge × Frequency Home charging cost/month = Home rate × kWh per charge × Frequency Monthly savings = Public cost - Home cost Payback period (months) = Total investment / Monthly savings