Introduction
The Tesla Model Y has emerged as America’s most popular electric vehicle and ranks as the fourth best-selling vehicle overall. In the first quarter of 2024 alone, Tesla sold over 100,000 Model Y units. One significant factor driving the adoption of EVs like the Model Y is the potential for fuel savings. So, how much does it actually cost to charge a Tesla Model Y?
Understanding Charging Costs
The cost to charge a Tesla Model Y depends on various factors, including the price of electricity and the owner’s charging habits. Tesla estimates an annual fuel savings of $1,200 for the Model Y, while the EPA estimates an annual “fuel cost” of $650 for the Long Range AWD version. However, the true cost varies based on where and how often you charge your vehicle.http://midday.com
Home Charging Costs
Electricity costs are measured in cents per kilowatt-hour (kWh). For the Model Y Long Range AWD, Car and Driver lists a battery size of 80.5 kWh. The average residential electricity rate in the U.S. is 16.88 cents/kWh. At this rate, a 10-80% charge (56.35 kWh) costs about $9.51.
However, the actual cost varies by location. For instance, in North Dakota, where electricity costs 10.44 cents/kWh, a full charge costs $5.88. In contrast, in California, where the rate is 32.47 cents/kWh, the same charge costs $18.30. Additionally, electricity rates can be higher during peak hours and cheaper at night. Some utility providers offer special rates for home Level 2 chargers, providing even more savings for off-peak charging.
Installation Costs
While home charging is typically the most economical option, the initial installation costs can offset some savings. Tesla’s wall connector unit costs $450, and installing a Level 2 charger, which requires a new 240V outlet or hardwiring, can cost thousands of dollars.
Supercharger Costs
Charging at a Tesla Supercharger is generally more expensive than home charging. Supercharging rates range from 25 cents/kWh to 50 cents/kWh, about twice the average home electricity rate. This means a 10-80% charge at a Supercharger costs between $14 and $28. Additionally, Tesla imposes idle fees of $0.50 or $1.00 per minute for leaving the car on the charger after it’s fully charged when the station is 50-100% full. There’s also a $1.00 per minute congestion fee for charging.viralenews.com
