It’s a familiar scenario: you’re chatting with friends or family, and the topic of car expenses comes up. You casually mention your Chevy Bolt’s cost per mile, and you’re met with blank stares. Why is this seemingly simple metric so confusing for those still driving gas-powered cars? Let’s dive into the world of EV costs, break down the numbers, and see why your “cost per mile” is such a powerful conversation starter.
The Chevy Bolt: A Case Study in EV Efficiency
The Chevy Bolt is a popular all-electric subcompact hatchback, known for its practicality and affordability. It’s been on the market since 2016, with a brief pause in production and then a relaunch. The Bolt boasts a range of up to 259 miles on a full charge, a very usable range for daily commuting and errands. The exact range depends on various factors such as temperature, driving style, and terrain. The battery capacity ranges from 60 to 66 kWh depending on the model year, and its performance is often compared to gas-powered SUVs in terms of power.
Understanding “Cost Per Mile”
The “cost per mile” metric refers to the expense of driving a vehicle one mile. For gas cars, it’s primarily determined by fuel efficiency (miles per gallon) and the price of gasoline. For electric vehicles like the Chevy Bolt, it’s based on electricity consumption (measured in kilowatt-hours or kWh) and the cost of electricity.
How to Calculate Your EV’s Cost Per Mile
Calculating your EV’s cost per mile is straightforward:
- Determine Your Electricity Rate: Check your electricity bill to find your cost per kWh. This rate can vary depending on your location, time of day, and your utility company.
- Track Your Energy Consumption: Your Chevy Bolt will display your energy consumption in miles per kWh (or kWh per 100 miles). This can vary depending on your driving habits and conditions.
- Calculate Cost Per Mile: Divide your electricity rate by your car’s average efficiency (miles per kWh) and then by .9 (to account for charger inefficiency).
For example, if your electricity rate is $0.15 per kWh and your Bolt averages 4 miles per kWh, your cost per mile would be approximately $0.042 per mile (0.15 / 4 / .9 = 0.0416).
The Astonishingly Low Cost of Driving an EV
The “deer in the headlights” reaction you get when mentioning your Chevy Bolt’s cost per mile stems from the fact that it’s significantly lower than the cost of operating a gasoline car.
At-Home Charging: The Most Cost-Effective Option
Charging your Chevy Bolt at home is generally the most economical way to power your EV. The average cost to charge a Chevy Bolt EV from 0 to 100% at home is around $11.47, assuming an electricity rate of $0.15 per kWh and a charger efficiency of 85%. This translates to roughly $0.04 per mile for the Bolt EV, and $0.05 per mile for the Bolt EUV. Some sources suggest that the cost per 100 miles for a Chevy Bolt is around $12.55 when charging at home.
Public Charging: Convenience at a Higher Price
While home charging is cheaper, public charging stations offer convenience, especially on longer trips. However, public charging costs can be higher. DC fast charging can cost around $0.45 per kWh, which would make a 35-mile trip cost around $4, assuming 4 miles/kWh, and a full charge of the battery cost around $30. Level 2 chargers are generally cheaper, costing around half of what DC fast charging costs. The cost per 100 miles can be around $16 when using public chargers.
How Much Can You Save?
To put things in perspective, the average cost per mile for a gasoline car ranges from $0.14 to $0.20. Some smaller, more fuel-efficient cars like the Honda Civic and Toyota Camry may have a cost per mile of around $0.085 – $0.092, while larger vehicles like the Ford F-150 or Chevy Silverado can be around $0.15 – $0.17. This is significantly higher than the $0.04 – $0.05 per mile you might be paying with your Chevy Bolt. The savings can be substantial over time.
For example, let’s compare the Chevy Bolt to a 2023 Chevy Equinox. A 2023 Chevy Equinox will cost about $56 to fill up, while the Bolt EV will cost at most around $44.85 at a public station and as low as $9.75 from at-home chargers. With solar panels, the cost could be even less.
One driver mentioned that switching to a Chevy Bolt increased their electric bill by $27 a month, but they drove 900 miles in that time, which they considered much cheaper than paying for gasoline.
Factors Affecting EV Electricity Consumption
While the cost per mile for a Chevy Bolt is generally low, several factors can influence your actual electricity consumption:
- Driving Style: Aggressive acceleration and hard braking consume more energy. Smooth and gradual driving, as well as using regenerative braking, can improve your efficiency and save energy.
- Speed: Higher speeds increase aerodynamic drag, which requires more energy. The optimal speed for an EV is usually between 50-60 mph (80-100 km/h).
- Temperature: Extreme temperatures can affect battery performance, reducing range. Using preconditioning features while plugged in can help mitigate this.
- Terrain: Driving uphill requires more energy than driving on flat roads.
- Traffic Conditions: Stop-and-go traffic and congestion tend to increase energy consumption.
- Vehicle Load: Carrying extra weight in your car can reduce the efficiency of the EV.
- Accessory Usage: Using features like heating and air conditioning can draw extra power.
- Battery Health: As your battery ages, its capacity may decrease. The calculated battery capacity of a Bolt may decline about 5% over 20,000 miles.
More Than Just Fuel Savings
The benefits of owning a Chevy Bolt extend beyond just lower fueling costs:
- Reduced Emissions: EVs produce zero tailpipe emissions, contributing to cleaner air.
- Lower Maintenance Costs: EVs have fewer moving parts than gasoline cars, leading to lower maintenance costs.
- Better Performance: EVs offer instant torque and smooth acceleration.
- Tax Incentives: Depending on your location, you may be eligible for tax credits or rebates for purchasing an EV.
- Potential HOV Lane Access: In some areas, EVs may be allowed in HOV lanes, which can save time during commutes.
The “Deer in the Headlights” Moment
When you tell people about your low cost per mile with your Chevy Bolt, the “deer in the headlights” reaction is usually a combination of surprise and unfamiliarity. Many people are simply unaware of the significant cost savings that EVs offer. They’re used to thinking about car expenses in terms of gas prices, not electricity.
This is why sharing your “cost per mile” is more than just a fun fact; it’s an opportunity to educate and inspire. It can help dispel myths about EVs and highlight the real benefits of making the switch.
Conclusion
The Chevy Bolt’s low cost per mile is a testament to the efficiency of electric vehicles. By understanding how to calculate this metric and being aware of the factors that affect EV energy consumption, you can confidently discuss the true cost of driving electric. So, the next time someone asks about your electric bill, tell them about your Chevy Bolt’s cost per mile – and watch those “deer in the headlights” moments turn into genuine curiosity. You might just be the spark that ignites their journey towards an electric future.
