Ownership tool
Home charger payback calculator
Enter install cost, home and public charging prices, yearly miles and consumption to see the yearly saving, payback months and five-year net saving.
Estimated payback
1 yr 7 mo
Install cost recovered in about 1.5 years
A yearly gap of $972 against an install cost of $1,500.
| Yearly energy use | 3,600.0 kWh |
|---|---|
| Yearly cost, home | $648 |
| Yearly cost, public | $1,620 |
| Yearly saving | $972 |
| Five-year net saving | $3,360 |
With public power at or below your home rate, the price gap doesn't exist — the case for a home charger is convenience and gentler AC charging, not the bill.
How it is calculated
Yearly saving = annual kWh × (public price − home price); annual kWh = yearly miles ÷ 100 × kWh/100 mi. Payback months = install cost ÷ yearly saving × 12.
The model assumes all miles move from public-price charging to home-price charging. If some miles will still use paid public stalls, blend the prices in the cost calculator instead.
Only the energy-price gap is counted — charger depreciation, maintenance and resale are excluded, and prices stay fixed at the entered values.
How to fill each field
- Install costCharger hardware, labor, cabling and any panel upgrade or permit fee. If the carmaker bundles a charger or an install credit, enter only the out-of-pocket difference.
- Price gapUse your actual home rate — off-peak EV plans can go well below $0.18 — and the all-in price at the public stalls you actually use.
- MilesEnter real yearly miles. Low mileage or free workplace/public charging stretches the payback window considerably.
FAQ
What does a home charger install usually cost?
A Level 2 charger plus basic install typically runs $800–2,000; long wire runs or a panel upgrade can push it to $3,000–5,000. Some makers bundle a charger or install credit — enter only your out-of-pocket share.
How much does home charging save per year?
At $0.18 home vs $0.45 public and 30 kWh/100 mi, each mile saves about 8¢ — roughly $970 a year at 12,000 miles. A $1,500 install pays back in about 19 months.
How many miles make a home charger worthwhile?
It depends on the price gap and install cost. At a $0.27/kWh gap, 12,000 mi/yr saves about $970 — a $3,500 install pays back in ~3.6 years. Under 6,000 miles a year, or with free workplace charging, payback stretches much longer.
What does a home charger buy besides savings?
Time: plug in overnight, skip detours and stall queues. AC charging is also gentler on the pack than repeated DC fast sessions. If cheap or free public charging is nearby, the math can flip — run your own numbers here first.