Home Charger ROI Calculator

Compare home charging cost vs. public charging to find your break-even point.

Charger + installation cost ($)

Home electricity ($/kWh)

Public charging ($/kWh)

Monthly charging (kWh)

Monthly savings —

Annual savings —

Payback period —

5-year net savings —

Savings = (public rate − home rate) × monthly kWh. Average US driver uses ~300 kWh/month for an EV. Home charging is typically 50–70% cheaper than public DC fast charging.

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Is a Home EV Charger Worth It?

A Level 2 home charger typically costs $500–1,500 for the unit plus $500–1,500 for installation. The savings come from charging at home electricity rates instead of public charging rates.

At $0.13/kWh home vs $0.35/kWh public, a driver using 300 kWh/month saves $66/month. The charger pays for itself in about 23 months, then saves $800+/year after that.

Home EVSE (EV Supply Equipment) cost: a basic Level 2 charger costs $300–700 for hardware; installation adds $200–600 for a typical garage with existing 240V service nearby. Total installed cost $500–1,300 for a standard setup. Longer runs, panel upgrades, or trenching for an outdoor installation increase cost significantly.

Annual savings calculation: (annual miles / EV efficiency in miles per kWh) × (public charging rate − home rate). Example: 12,000 miles/year at 3.5 mi/kWh = 3,429 kWh. Public DCFC at $0.45/kWh vs. home at $0.13/kWh: savings = 3,429 × ($0.45 − $0.13) = 3,429 × $0.32 = $1,097/year. ROI payback: $900 installation / $1,097/year = 0.82 years — less than one year.

Federal tax incentives: the Inflation Reduction Act's Section 30C credit provides 30% of home EVSE installation cost (up to $1,000) through 2032 for eligible taxpayers. Some states add additional rebates ($200–$500 typical). Verify current eligibility with a tax professional as income limits and eligible equipment change.

Smart charger benefits: scheduling charging to off-peak hours (via the EVSE app or vehicle scheduling) can reduce annual charging cost by 25–40% in TOU rate territories. WiFi-enabled Level 2 chargers typically cost $100–200 more than basic units but pay back the premium quickly in off-peak savings.