How Much Does Your Electric Bill Increase With A Tesla?
Aug 01,2022 | Chloe Lacour
Owning a Tesla is fun and convenient because you don't have to queue at the gas station to fill up your car. However, your electricity bill will skyrocket.
Starting to charge a Tesla at home can add about $20 to $50 to your electric bill each month. The total electricity bill depends on several factors, including the number of kilometers traveled each month, the user's driving style, the frequency of use of heating and air conditioning, and the electricity costs in your area.
In addition, the Tesla model you drive also plays a role in the total cost of your electricity bill. Some models use less power than others. If you live in states with high electricity costs per kilowatt, you have to expect higher costs.
What is the cost of charging different Tesla models?
Before you buy your dream Tesla, it's important to know how much it costs to charge at home.
Tesla Model Y
The Tesla Model Y is the newest Tesla model on the market. This electric vehicle comes in three different versions including Standard Range, Long Range, and Performance. The standard range comes with an RWD, while the other two variants have an AWD system.
All variants of the Tesla Model Y are equipped with a 75 kWh battery. As a result, they're the most expensive Tesla models when it comes to increasing your electric bill. For example, the cost of fully charging the standard-range Tesla Model Y is about $11.50.
If you estimate that cost per mile, the cost of charging this model is around $0.047 per mile. So you pay about $4.70 more on your electric bill for every 100 miles you travel with this unit. Note that it can be more or less depending on where you live and how you drive.
Tesla Model X
Another Tesla model that will skyrocket your electric bill is the Tesla Model X. Although this model is cheaper to charge than the Tesla Model Y, it is still quite expensive. Unlike the Tesla Model Y, which has a 75 kWh battery, the Model X has a 100 kWh battery.
However, older editions of the Model X have a lower-capacity 60kWh battery. Since the latest Tesla Model X variants (Long Range and Plaid) come with a 100kWh battery, they will cost around $15.30 for a full charge. With this estimate, the cost per mile for the Model X Long Range will be approximately $0.04.
The Model X Plaid variant has a slightly higher cost of $15.30 for a full charge. That means you have to pay an additional $0.042 per mile to charge your EV.
Tesla Model 3
If you want a Tesla that doesn't inflate your electric bill too much, you should go for the Tesla Model 3. It's also the cheapest Tesla model on the market. This model comes in three variants – Standard Range, Long Range, and Performance Editions.
Unlike the Tesla Model Y and Model X, the Model 3 variants have different batteries. The Tesla Model 3 Standard Range is equipped with a 50 kWh battery, while the Long Range and Performance variants have an 83 kWh battery.
If you want to save more money on your electric bill, you should go for the Tesla Model 3 Standard Range, which costs about $7.60 for a full charge, which is 0.03 per mile. If you choose the Long Range or Performance variant, you will have to pay around $12.55 or $0.036 per mile.
Tesla Model S
Finally, Tesla Model S owners don't have to pay a higher electricity bill than Model Y or Model X owners, but it's quite a bit more expensive than fully charging a Model 3. All three Tesla Model S versions come with a 100 kWh permanent battery – Long Range, Plaid, and Plaid+.
So if you own the Model S Long Range, a full charge will add about $15.30 to your electric bill, which means you'll have to pay about $0.037 per mile.
What determines the cost of charging my Tesla car?
There are many factors that come into play when it comes to the cost of charging your electric Tesla. This includes the number of kilometers driven, the Tesla model you own, the charger used, and the cost of electricity.
How can I save on my electric bill if I have a Tesla?
If you want to lower the cost of your electric bill, charge more with Tesla Superchargers instead of at home. You could also choose to install a solar panel so you can charge your Tesla with solar power. You can also charge during off-peak hours.
You can also choose to use the Tesla for short trips and have a gas-powered vehicle on standby for long trips. If you live in states with high electricity costs, such as California, New York, and New Jersey, the best way to save money on your electric bills is simply to move to a state with lower electricity costs.
Does owning a Tesla save you money in the long run?
Yes, he does. Owning a Tesla means your electric bills are going to skyrocket a bit. However, if you compare the overall cost of filling up your car to charging a Tesla, you'll find that it's a lot cheaper. In addition, it is very convenient since you can charge from home.
How much does it cost to install a charger in your garage?
If you already have a breaker box in the ideal spot, installing a Tesla charger or other EV charger is beneficial. However, if you need to replace or relocate a breaker box, you may have to pay more. Installing a breaker box could cost you around $300.
You don't have to stress out, though, as Tesla includes a portable charger. The external charger can simply be plugged into an existing socket. However, if you want to charge faster, you may need to install a 240V outlet, also known as an EVSE, which will cost you between $500 and $1000.
Although owning a Tesla will add around $20 to $50 to your electric bill, it's worth noting that the overall cost of running your vehicle is much lower than that of a gas-powered vehicle. However, if you want to lower your electricity bill, consider installing solar panels.