Chevrolet is making waves in the electric vehicle market with the Equinox EV, offering impressive range and value for money. The FWD version of the Equinox EV boasts an impressive 319 miles of range, making it one of the top contenders in terms of range per dollar. With the introduction of the new LT trim, starting at just $33,600 before potential federal tax credits, the Equinox EV is a compelling option for eco-conscious buyers.
One of the key factors contributing to the Equinox EV’s value proposition is the cost savings from not having to pay for gasoline. However, calculating the cost of charging an electric vehicle can be a bit more complex than simply looking at the EPA-rated range. The cost of charging a Chevrolet Equinox EV depends on factors such as how, where, and when you charge the vehicle.
The Equinox EV comes equipped with an 85 kWh battery pack, and the national average household electricity rate is currently 16.83 cents/kWh. Charging the Equinox EV from empty to full would cost approximately $14.31 at this rate, while a typical 10-80% charge would cost around $10.01.
Charging the Equinox EV at home using a Level 2 charger is generally the most cost-effective option for owners. However, the cost of home charging can vary significantly depending on location. For example, charging the Equinox EV in Louisiana might cost $7.10 for a 10-80% charge, while the same charge in Connecticut could cost $19.64 due to higher electricity rates.
For those considering the Equinox EV as their first electric vehicle, it’s worth noting that the installation cost for a Level 2 home charger can add to the overall cost. Popular chargers like the Chargepoint Home Flex can cost over $500, with professional installation potentially costing thousands of dollars.
When it comes to charging the Equinox EV at a DC fast charger, convenience comes at a price. While DC fast chargers offer quick charging on the go, they can be significantly more expensive than charging at home. Rates at Tesla Superchargers, for example, can range from 25-50 cents/kWh, resulting in a cost of $14.87 to $29.75 for a full 10-80% charge.
In comparison to a traditional combustion car like the Chevy Equinox FWD, the Equinox EV offers significant cost savings when it comes to fueling. While it costs around $10.94 to drive the combustion Equinox 100 miles on gas at the national average price of $3.04 per gallon, it would only cost $5.21 to drive the Equinox EV the same distance at the national household electricity rate. However, using DC fast charging can increase the cost of driving the Equinox EV to between $7.75 and $15.50, approaching or even surpassing the cost of gasoline.
Overall, the Chevrolet Equinox EV presents a compelling option for buyers looking to make the switch to electric vehicles. With its impressive range, affordability, and cost savings on fuel, the Equinox EV is a strong contender in the EV market.