In Texas, electricity was cheaper but our power bills were much higher, especially in the summer.  In New Mexico, our house is a bit smaller and the weather milder, so our consumption is much lower.  I was curious how much it cost to charge an EV like ours (Tesla Model 3 with a 75 kWh battery).  It’s a little complicated because there are three tiers of rates with different summer and non-summer rates.

We have solar so it’s a different story for us but if we were using PNM power we would almost certainly be in the upper tier in the summer ($0.1994661/kWh) and the lower tier in the non-summer ($0.0896783/kWh).  So a fill-up from 0% to 100% would be:

Summer: ($0.1994661 x 75) = $14.96

Non-Summer: ($0.0896783 x 75) = $6.73

Or course gas prices fluctuate and have been high for some time.  But a similar vehicle with, say a 16 gallon tank would cost $64 at $4 a gallon.  Gas would have to be under $1 a gallon to compete with even the expensive summer charging.

I always thought this was a big advantage of EVs but you don’t hear about it much.  Plus there are no oil changes, radiator flushes, transmission fluid, spark plugs, etc to maintain.