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How Does A Tesla Model 3 Impact Your Electric Bill?
Who better than Engineering Explained to break down electricity costs for owning and EV like the Tesla Model 3? We’ve learned that one of the most common questions from potential EVs owners is: How much will my home electric bill go up from charging my EV?
We can honestly tell you that many of our staff members at InsideEVs pondered that question over and over before taking the plunge. As there are many variables involved, once again, information and education leads to greater adoption.
The video goes in-depth about the cost for charging an EV at home. In summary, it’s much cheaper than paying for gas. The lowest gas price used in the analysis is $2.35 per gallon, though we see that the national average is at about $2.81. In states like California, some markets are seeing gas prices as high as $3.50 or more.
Just looking at the very low $2.35 rate, you’d have to have a car that gets some 60 mpg to make gas costs similar to electricity costs. In the end, when looking at more realistic gas prices, an EV like the Tesla Model 3 will save you a ton of money. The best part is, Engineering Explained provides a nice, easy equation so that you can run the comparisons yourself before you move forward.
Read more (including a video) on insideevs.com