How to Use the EV Charger ROI Calculator
Installing a Level 2 charger at home eliminates the need for expensive public fast charging. Enter the equipment and installation costs, your federal or state tax credit, and the difference in electricity rates to see when the investment pays off.
The 30% federal tax credit (30C) applies to both the unit and installation costs, up to $1,000. Many utilities also offer rebates — check your local utility's EV program before buying. Overnight off-peak rates can further reduce per-kWh costs.
Frequently Asked Questions
Yes — a licensed electrician is required to run a dedicated 240V circuit. Costs vary by distance from the panel and local permit requirements. Always get at least two quotes.
The Alternative Fuel Vehicle Refueling Property Credit allows homeowners to deduct 30% of charger hardware and installation costs (up to $1,000) from federal taxes. The charger must be installed at your primary residence. Consult a tax advisor for specifics.
Level 1 (120V standard outlet) adds 3–5 miles of range per hour. Level 2 (240V) adds 20–35 miles per hour — enough for most overnight charging situations, fully topping up a 250-mile range EV in 8–12 hours.