MONTHLY SAVINGS
$20/mo
Home Charger ROI
A Level 2 home charger typically pays for itself in 1 to 3 years versus public fast charging.
60 kWh, 272 mi range
$
35 mi
10 mi150 mi
Advanced inputs
$
Electrician and panel upgrade if needed
$/kWh
Average DC fast charging rate
Sets your home electricity rate
¢/kWh
Leave at 0 to use state average
Home charger ROI
PAYS OFF IN67 months
Versus using public fast chargers at $0.40 to $0.60 per kWh
90%
RECOVERED BY YR 5
5 YEAR SAVINGS
$1,170 gross
PUBLIC CHARGING
$1,118/yr
HOME CHARGING
$881/yr
Live savings meter
PUBLIC/yr
SAVES
/yr
HOME/yr
How the Charger ROI Calculation Works
The payback period divides your total upfront cost (charger plus installation) by the monthly savings from charging at home versus your current mix of public and Level 1 charging. Home electricity rates come from EIA state averages. Public charging rates default to $0.35 per kWh, which reflects the 2026 average across major networks like Electrify America and ChargePoint.
Installation Costs: What to Expect
The charger unit itself typically costs $300 to $600. Installation costs vary more: a simple NEMA 14-50 outlet install runs $200 to $500 if your panel is nearby and has capacity. Panel upgrades add $1,000 to $3,000. Running new wire from a distant panel adds $500 to $1,500. Get three quotes from licensed electricians. Prices vary significantly by region.
Factors That Improve Your ROI
- High daily mileage: the more you drive, the faster a home charger pays off. Commuters driving 50+ miles per day typically break even in under a year.
- Time-of-use electricity plans: many utilities offer overnight rates 30 to 50% below standard rates, making home charging even cheaper.
- The federal 30C charger tax credit covers 30% of equipment and installation costs (up to $1,000), reducing your payback period by nearly a third.
- Home chargers can increase property value. A 2024 Zillow study found homes with EV chargers sold for 3.3% more on average.
FAQ
Frequently asked
For most EV owners, yes. A Level 2 charger charges 5–10x faster than a standard outlet and pays for itself within 1–3 years through savings on public charging costs. The convenience of waking up to a full battery every morning is a significant quality-of-life benefit as well.
Get EV Savings Tips
Free updates on electricity rates, new calculators, and ways to save on EV ownership. No spam.
Unsubscribe anytime. We respect your privacy.