EV Home Charging: I Did the Math—and Saved Hundreds of Dollars
High-voltage outlets, smart chargers, money-saving utility programs: what to know about charging EVs at home
4 min
Things I miss about my local gas station:
…
That’s it. That’s the list. OK, fine, I did enjoy the communal squeegees.
This week marks six months since the grand opening of my home electric-vehicle charging station. Congrats to the whole team! (Me and my electrician.) Located between my garage door and recycling bin, it’s hard to beat for the convenience. And also the price.
If you’ve followed my ad-EV-ntures, you’re aware of my feelings about the hell that is public EV charging , at least before Tesla started sharing its Superchargers with its rivals. Truth is, I rarely go to those public spots. The vast majority of EV owners—83%—regularly charge at home, according to data-analytics company J.D. Power.
I already discovered many EV virtues , but I didn’t quite grasp the cost savings until I tallied up half a year of home-charging data. In that time, I spent roughly $125 on electricity to drive just under 2,500 miles. In my old car, that would have cost me more than twice as much—assuming gas held steady at around $3.25 a gallon . And I was charging through the winter, when electricity doesn’t stretch as far in an EV.
Rebates and programs from my state and utility company sweeten the deal. So I will be able to take advantage of discounted electricity, and offset the cost of my charger. The same may be available to you.
But first, there are technical things to figure out. A 240-volt plug? Kilowatt-hours? Peak and off-peak charging? While other people are in their garages founding world-altering tech companies or hit rock bands, I’m in there finding answers to your home-charging questions.
How to get set up
Sure, you can plug your car into a regular 120-volt wall outlet. (Some cars come with a cable.) And sure, you can also simultaneously watch all of Netflix while it charges. It would take more than two days to fill my Ford Mustang Mach-E’s 290-mile battery via standard plug, known as Level 1 charging.
That’s why you want Level 2, which can charge you up overnight. It requires two components:
• A 240-volt electric outlet. Good news: You might already have one of these higher-powered outlets in your house. Some laundry dryers and other appliances require them. Bad news: It might not be in your garage—assuming you even have a garage. I realise not everybody does.
Since my suburban New Jersey home has an attached garage, the install process wasn’t horrible—or at least that’s what my electrician said. He ran a wire from the breaker panel in the basement to the garage and installed a new box with a NEMA 14-50 outlet. People with older homes or detached garages might face trickier wiring issues—more of a “Finding NEMA” adventure. (I apologise to everyone for that joke.)
My installation cost about $1,000 but the pricing can vary widely.
• A smart charger. Choosing a wall charger for your car is not like choosing one for your phone. These mini computers help you control when to start and stop charging, calculate pricing and more.
“This is not something where you just go to Amazon and sort for lowest to highest price,” said Tom Moloughney, the biggest EV-charging nerd I know. On his website and “State of Charge” YouTube channel , Moloughney has reviewed over 100 home chargers. In addition to technical measurements, he does things like freezing the cords, to see if they can withstand wintry conditions.
“Imagine you are fighting with this frozen garden hose every time you want to charge,” he said.
One of his top picks, the ChargePoint Home Flex , was the same one my dad had bought. So I shelled out about $550 for it.
Just remember, if you want to make use of a charger’s advanced features—remote controls, charging updates, etc.—you’ll also need strong Wi-Fi in your garage.
How to save money
I hear all you money-minded WSJ readers: That’s at least $1,600 after getting the car. How the heck is this saving money? I assumed I’d recoup the charging-equipment investment over time, but then I found ways to get cash back even sooner.
My utility provider, PSE&G, says it will cover up to $1,500 on eligible home-charger installation costs . I just need to submit some paperwork for the rebate. In addition, New Jersey offers a $250 rebate on eligible charger purchases. (Phew! My ChargePoint is on the list.) If all is approved, I’d get back around $1,250. Fingers crossed!
I didn’t know about these programs until I started reporting on this. Nearly half of home-charging EV owners say they, too, are unaware of the programs offered by their electric utility, according to a 2024 study released by J.D. Power . So yes, it’s good to check with your provider. Kelley Blue Book also offers a handy state-by-state breakdown.
How to charge
Now I just plug in, right? Kinda. Even if you have a Level 2 charger, factors affect how many hours a fill-up will take, from the amperage in the wall to the current charge of your battery. Take Lionel Richie’s advice and plan on charging all night long .
It can also save you money to charge during off-peak hours.
Electricity costs are measured in kilowatt-hours. On my basic residential plan, PSE&G charges 18 cents per kWh—just 2 cents above the 2023 national average . My Mustang Mach-E’s 290-mile extended-range battery holds 91 kilowatt-hours.
Translation: A “full tank” costs $16. For most gas-powered cars, that wouldn’t cover half a tank.
And If I’m approved for PSE&G’s residential smart-charging plan, my off-peak charging (10 p.m. to 6 a.m. and weekends) will be discounted by up to 10.5 cents/kWh that I’ll get as a credit the following month. I can set specific charging times in the ChargePoint app.
Electricity prices fluctuate state to state but every expert I spoke to said no matter where in the country you live, home charging should cost less than half what gas would for the same mileage. (See chart above for a cost comparison of electric versus gas.) And as I’ve previously explained , fast charging at public stations will cost much more.
One big question: Am I actually doing anything for the environment if I’m just taxing the grid? Eventually, I’d like to offset the grid dependence—and cost—by powering my fancy little station with solar panels. Then, I’ll just be missing the squeegee.
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This stylish family home combines a classic palette and finishes with a flexible floorplan
Just 55 minutes from Sydney, make this your creative getaway located in the majestic Hawkesbury region.
3 min
There are Corvette fans for whom the base US$68,300 car is plenty powerful enough. After all, it produces 495 horsepower and can reach 60 miles per hour in 2.9 seconds. But hold on, there’s also the approximately US$115,000 Z06—with 670 horsepower and able to reach 60 in 2.6 seconds. These split seconds are important for busy people—and for marketing claims. And if that’s not enough go power, there’s the even more formidable 900-horsepower ZR1 version of the Corvette, starting around US$150,000. The hybrid E-Ray, at US$104,900, is pretty potent, too.
But if they’re still too slow, fans of American-engineered muscle can consider the exclusive Texas-built Hennessey Venom F5, a limited-edition carbon-fibre hypercar. Ten years ago, the Hennessey became the world’s fastest production car, defeating the Bugatti Veyron Super Sport, with a top speed of 270.49 miles per hour.
That world title is much sought after, and is currently held by the Sweden-built 1,600-horsepower Koenigsegg Jesko Absolut, with a two-way average top speed of 277.8 mph. But Hennessey is still very much a contender. The company is hoping the 1,817-horsepower F5 (with 1,192 pound-feet of torque) can exceed 300 mph on the track this year.
Hennessey photo
Hennessey’s previous Venom GT model (introduced in 2010) was based on the Lotus Exige, with a GM LS-based engine, and was built by partner Delta Motorsport. Spokesman Jon Visscher tells Penta , “The new Venom F5, revealed in 2020, is a 100%bespoke creation—unique to Hennessey and featuring a Hennessey-designed 6.6-litre twin-turbo V8 engine boasting 1,817 horsepower, making it the world’s most powerful combustion-engine production car.” Leaps in performance like this tend to be pricey.
This is a very exclusive automobile, priced around US$2.5 million for the coupe, and US$3 million for the F5 Roadster announced in 2023. Only 30 Roadsters will be built, with a removable carbon-fiber roof. The 24 F5 coupes were spoken for in 2021, but if you really want one you could find a used example—or go topless. In a statement to Penta , company founder and CEO John Hennessey said that while the coupe “is now sold out, a handful of build slots remain for our Roadster and [track-focused] Revolution models.”
Only 24 Revolutions will be built in coupe form, priced at US$2.7 million. There’s also a rarefied roadster version of the Revolution, with just 12 to be built.
Hennessey photo
The Venom F5 coupe weighs only 3,000 pounds, and it’s not surprising that insane speeds are possible when combined with a hand-built motor (nicknamed “Fury”) created with power uppermost. The V8 in the F5, installed in a rear mid-engine configuration, has a custom engine block and lightweight forged aluminium pistons, billet-steel crankshaft, and forged-steel connecting rods. Twin turbochargers are featured. The F5 can reach 62 mph in less than three seconds, but top speed seems to be its claim to fame.
The driver shifts the rear-wheel-drive car via a seven-speed, single-clutch transmission with paddle shifters. The interior is not as spartan or as tight as in many other supercars, and is able to handle very tall people. The butterfly doors lift up for access.
“With 22 customer Venom F5 hypercars already delivered to customers around the world, and a newly expanded engineering team, we’re focusing the Venom F5 on delivering on its potential,” Hennessey says. “Breaking 300 mph in two directions is the goal we aim to achieve toward the end of this year to claim the ‘world’s fastest production car’ title.”
Hennessey says the car and team are ready. “Now the search is on for a runway or public road with a sufficiently long straight to allow our 1,817-horsepower, twin-turbo V8 monster to accelerate beyond 300 mph and return to zero safely.” The very competitive Hennessey said the track-focused Revolution version of the F5 set a fastest production car lap around Texas’ 3.41-mile Circuit of the Americas track in March, going almost seven seconds faster than a McLaren P1.
The Revolution features a roof-mounted central air scoop (to deliver cool air to the engine bay), a full-width rear carbon wing, larger front splitter and rear diffuser, tweaked suspension, and engine cooling. It’s got the same powertrain as the standard cars, but is enhanced to stay planted at otherworldly speeds.
This stylish family home combines a classic palette and finishes with a flexible floorplan
Just 55 minutes from Sydney, make this your creative getaway located in the majestic Hawkesbury region.
