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Installing a EV Home Charging Station is a Smart Financial Move – Here’s Why

Installing a EV Home Charging Station is a Smart Financial Move - Here's Why By Add On Electric

If you have just bought an electric vehicle (EV) or are considering buying one, you are probably debating whether you should buy an EV charging station for your house. You may be unsure whether the investment in these charging stations is worthwhile due to the costs associated with their equipment and installation. Please find out how at-home electric vehicle charging stations cover their costs before installing one.

What It Will Cost You to Charge Your Electric Vehicle at Home

The relatively low cost of operating an electric vehicle charging station in the home is one of the most compelling arguments in favor of installing such a station. For instance, the United States Department of Energy discovered that charging an electric vehicle with a station located in the driver’s home is only $0.04 for each mile of charge. This assumes that the driver’s vehicle consumes 33 kWh for every 100 miles travelled and that the cost of their electricity is $0.13 per kWh. Even while this figure is subject to fluctuate dependent on the energy rates in your area and the type of car you own, it is still true that installing a charging station in your house will result in lower overall energy expenses.

Do Residential Charging Stations for Electric Vehicles Cover Their Costs?

As you consider whether you would benefit from having a charger for your electric car installed in your house, you may be interested in learning more about the factors that contribute to the device’s value as an investment. In addition to being a convenient option, charging devices at home is also an astute economical choice. For instance, in-home chargers are more cost-effective than public charging stations, can increase the value of your home, and can assist you in lowering your battery and mileage consumption.

Find out more about how the initial investment expenses of home-based car chargers may be mitigated and how quickly they can pay for themselves below:

  • Expenses for the use of electricity that are lower than those of public charging stations: Because public charging stations add a markup to the price of the power you buy from them, the cost of charging your electric vehicle there will often be higher than the cost of charging it at home. Public charging stations that are free to use are difficult to come by and, when they do exist, are often located in parking garages that require you to pay for the time you spend parked there. Because of this, the cost savings you receive from charging your electric vehicle (EV) at home with a charging station might, in the long term, be more than the expenses associated with the station’s original installation and equipment purchases.
  • Reduced fuel use and drain on the battery: If you charge your electric vehicle (EV) using public charging stations, you will need to visit these stations frequently to maintain a full battery. If you have a charger in your home, you won’t have to pay for the energy you use when driving to and from a public charging station, which means you’ll save money on that expense. Keeping the miles on your electric vehicle (EV) to a minimum will help your car remain in better form and keep it out of the hands of your technician, which will result in less expenditure for vehicle maintenance.
  • In addition to the decreased expenses associated with recharging your electric vehicle (EV) using an at-home car charger as opposed to depending on public outlets, EV chargers also pay for themselves by contributing to an increase in the value of your property. A property with an electric car charger installed might be particularly appealing to prospective buyers considering the growing popularity of electric vehicles (EVs) versus gas-guzzling automobiles. When you buy an electric vehicle charger for your house, it may increase the value of your property, which can help you recoup some of the money you spent on it initially.

Installing an electric vehicle (EV) charging station in your home might wind up paying for itself in the long run. This is because, in comparison to public charging stations, EV charging stations in your home often charge your car for a significantly lower cost. Purchasing one of these stations is financially worthwhile in the long term; however, you will need to make an initial investment in a new electric vehicle charging station and pay for the services of a licensed electrician to have it installed.

Choose Add On Electric Charging Station Installation and Maintenance Services if you live in or around the Albuquerque, Arizona, area.

Add On Electric is the company to go to if you are seeking charging stations for electric vehicles in the Albuquerque, NM, area. To guarantee that you can charge your electric vehicle most conveniently and economically possible, we can analyze your needs, assist you in locating a unique at-home charging station, and then install it on your behalf. After the installation is complete, we are also available to help with any future maintenance or repairs that may be required. Today is the day to educate yourself about our household electric vehicle charging station services. Feel free to contact us at any time if you have any inquiries or would like to set up an appointment.

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