How to Calculate Your EV Charging Costs: A Step-by-Step Guide

How to Calculate Your EV Charging Costs: A Step-by-Step Guide

One of the biggest arguments for an electric car is the lower "fuel" costs. But what does a full charge actually cost? The answer isn't always simple, as prices vary significantly depending on where and when you charge. Let's shed some light on this.

The factors that determine your charging costs

1. Your electricity tariff at home
   This is usually the cheapest option. You pay the price per kilowatt-hour (kWh) agreed with your electricity provider.

2. Public charging stations (AC)
   This is where it gets more complicated. Prices can be per kWh, per minute, or a combination of both. There are often different tariffs depending on the provider (e.g. ChargePoint, Ionity, etc.).

3. Fast charging stations (DC)
   On motorways and main routes, prices per kWh are usually the highest, but you also charge the fastest.

4. Charging losses
   A small portion of energy is always lost during charging (approx. 5–10%). This means you pay for slightly more electricity than actually ends up in your battery.

The formula for calculating your charging costs

The basic formula is simple:

Energy charged (kWh) x Price per kWh = Charging costs

Example:

• You charge 20 kWh at home.
• Your electricity price is $0.15/kWh.
• Calculation: 20 kWh x $0.15/kWh = $3.00

At public stations, you need to use the respective provider's tariff.

The problem: Who wants to calculate manually all the time?

The reality is a mix of all these charging methods. Sometimes you charge at home, sometimes at work, sometimes at the supermarket, and sometimes on the motorway. Keeping track of what you've actually spent on mobility at the end of the month quickly turns into a tedious spreadsheet exercise. That's exactly what Aximote is for – the app automatically detects every charging session and assigns the correct costs. So you always have a transparent overview of your charging costs.