Did you know that Canadians are spending over $30 more a month on gas now than they were in December? Currently, across the entire country, the average Canadian spends a total of $173 on gas. In Victoria that price goes up to almost $200.
With gas prices on the rise and concerns about the environmental impacts of fossil fuels increasing, many car owners are thinking more about switching to owning an electric vehicle. But, the question then becomes: how much does it cost to charge a Tesla or other EV?
Well, the cost of charging a Tesla, for example, depends on where you live and what the local costs of electricity are. However, it is a bit more of a stable pricing model than the one that affects gas prices.
Here’s what to know about the costs of charging a Tesla and how those costs compare to filling up a regular car with gas each month.
How Does EV Charging Work?
If you’re the owner of a Tesla, you may be wondering how to charge your car. After all, electric vehicles (EVs) are a bit different from traditional gas-powered cars. Luckily, charging your Tesla is easy once you know how to.
Most EVs can be plugged into a standard 120-volt outlet, which will gradually charge the battery over the course of several hours. However, if you want to charge your Tesla more quickly, you’ll need to use a 240-volt outlet.
This type of outlet is typically only found in garages or commercial parking lots, but it can be installed in your home with the help of an electrician. If you’re in Canada, there is a helpful directory where you can find EV charging stations.
Charging your Tesla at a 240-volt outlet is simple: just plug the charger into the outlet, and then plug the other end into your car. The charger will automatically begin transferring electricity to the battery.
Depending on the size of the battery and the strength of the charger, it can take anywhere from a few hours to overnight to fully charge an EV.
Factors that affect the cost of charging a Tesla include:
- The cost of electricity
- The type of charger used
- The location of the charger
For example, charging a Tesla at home with a Level 2 charger will cost less than charging at a public Level 3 Supercharger. In addition, charging during off-peak hours (usually overnight) often results in lower electricity rates.
As a result, the actual cost of charging a Tesla can vary significantly depending on the circumstances. So, let’s break that down.
Breaking Down the Cost to Charge a Tesla
Sorry, folks, but we’re gonna make you do a little bit of math here.
In order to figure out how much it will cost to charge a Tesla, you need to know how much electricity the car uses and how much your local utility company charges per kilowatt-hour (kWh).
The good news is that Tesla provides a lot of information on its website about how much it costs to charge a Tesla. And, reports straight out of Canada show that the average cost of charging an EV in Canada is $277 per year.
Yes, per year. Compare that to the current average of $173 per month that most Canadians are spending on gas and you see why a Tesla could be a great deal.
While prices will vary all over Canada, here’s a quick breakdown.
How Much Does it Cost to Charge a Tesla Model X?
It costs about $15.29 to charge a Tesla Model X from empty to full. The cost will vary depending on the price of electricity in your area, but on average, it will cost you about 15 cents per KW.
So, if your Model X has a 75 kWh battery pack, it will cost you about $11.47 to charge the car from empty to full. Of course, you won’t always need to charge your Model X from empty to full.
If you only need to charge your car for a few kilometers of range, it will cost you much less. For example, charging your Model X so that it lasts for just 16 kilometers will only cost you about $1.53.
To get the most accurate estimate of how much it will cost you to charge your Tesla Model X, be sure to check out this Tesla charging cost estimator.
How Much Does it Cost to Charge a Tesla Model 3?
Charging a Tesla Model 3 can range in cost depending on how you charge it and where your charging station is located. If you charge your Tesla at home, it will cost you an estimated $5.72 per 160 kilometers driven.
This cost can change depending on the price of electricity in your area. If you charge your Tesla at a public charging station, the cost will be higher. The average cost of charging a Tesla at a public charging station is about $0.25 KW.
Tesla also offers a subscription service that gives you unlimited charging at its supercharger stations. However, this service has recently become quite confusing. And, you pay by tiers, so it’s best to do your research beforehand.
How Much Does it Cost to Charge a Tesla Model S?
If you have a Tesla Model S, it costs about $21.60 to charge the battery from empty to full. Assuming you have a standard home outlet, it will cost about $9.00 to charge a Tesla Model S.
However, if you have a high-powered charger installed in your home, the cost will be much lower (about $2.50).
What About Charging with a Tesla Supercharger/DCFC?
If you happen to own a Tesla, you’re in luck- the company has an extensive network of Superchargers and Destination Charging Stations (DCFC) that can give your car a full charge in no time.
And best of all, using these charging stations is completely free for Tesla owners if the car is a 2017 model or older. The cost of the Tesla is a 2018 model or newer? Currently, it’s about $0.25 per KW.
Here’s how it works: simply plug your car into the charger, and it will automatically begin drawing power from the battery. The process is entirely automated and takes about 30 minutes to complete. Once your car is fully charged, you’re ready to hit the road again.
Is a Tesla Cheaper Than Paying for Gas?
So, how does the cost of charging a Tesla compare to the cost of gas?
To answer this question, we need to look at how much it costs to charge a Tesla and how much it costs to fill up a tank of gas.
First, let’s consider the cost of charging a used Tesla that you’ve financed with a great auto loan. Depending on the size of your battery and how much you drive, pricing can vary. But, studies show that the average yearly cost of charging a Tesla in Canada is just $277.
This comes out to about $23 per month. Again, however, it’s important to keep in mind that your costs will be higher if you drive long distances frequently and therefore need to recharge the car more often.
However, that’s still quite a difference from the current national average monthly spend on gas. At $173 per month, Canadians are spending $150 more per month fueling up their cars with gas than they would have to if they switched to an electric vehicle like a Tesla.
So, yes, charging a Tesla is cheaper than filling up a gasoline-powered car, at least in Canada. And, the price of EV charging is expected to continue to decrease as these types of cars become more popular and charging stations become more accessible.
Financing a Tesla in Canada
Thinking that a Tesla makes sense for you? It’s easy to see why! However, there are a few things to keep in mind if you’re thinking about financing a Tesla in Canada.
First, you’ll need to have good credit. Tesla finance rates are based on your credit score, so if you have a high score, you’ll get a better rate.
Second, you’ll need to have a down payment. While this down payment can vary from dealership to dealership, you’ll want to be sure you have enough before you apply for financing.
Finally, make sure you can afford the monthly payments. Tesla financing rates are typically lower than other car loans, but the monthly payments can still be high. If you’re not sure you can afford to buy a used car, you might want to consider leasing instead.
Find Your Dream Tesla
If you’ve considered the costs of charging a Tesla and think it’s the right car for you then the next step is to find one to purchase. Lucky for you, we’ve made that easier than ever.
All you have to do is fill out an application. Then, we’ll match you with a local dealership that can help you get into a car that is affordable. Easy, right?
Fill out our application form about the type of car you’re looking for and we’ll be in touch with the best local dealerships near you offering great deals on used Teslas and other cars.