Homeowners across the country usually spend between $800 and $2,500 to install EV chargers. When done correctly, this is an investment that can add value to homes and pay for itself. With at-home charging, drivers can save both time and money. Read on to explore the financial pros and cons of this important home upgrade.

Pro: Get Rid of Low-Performing Charger Cords

Every new EV comes with a branded, Level 1 charging cord. These cords work with standard 120-volt outlets and offer plug-and-play functionality. But, on average, they take over 50 hours to get the job done. With a Level 1 charger, you’ll need two full days of charging for your battery to reach full capacity.

Level 2 home chargers can restore full battery power within just four to twelve hours. For daily drivers, this extra convenience is well worth the expense.

Pro: Avoid Long Waits for Public Chargers

Time is money, and you certainly don’t want to waste yours waiting in long lines for public EV chargers. Daily long-distance drivers often visit public charging stations many times each week. With an at-home charger, you can charge your vehicle while you sleep. You’ll have more time to relax before your next big workday. You can also pursue other activities.

Pro: Significant Savings on Charging Costs

The break-even point for EV home charger installation varies. For most people, EV chargers pay for themselves within one to five years. If you drive far or need to stop at a charging station, your charger can quickly pay for itself. Charging your vehicle overnight during off-peak hours saves you money.

Pro: Enjoy Complete Control Over Your Battery’s Health

Poor-performing public chargers can take a toll on EV battery health. A home charging station ensures your battery gets a steady flow of electricity. To prevent battery damage from frequent DC fast charging, install a surge protector.

Con: You May Need an Electrical Upgrade

Upgrading from a Level 1 charging cord to a Level 2 station is a big step. You may need to update your home’s electrical panel. Sometimes, adding a new one is necessary to safely manage the higher power demand. Level 2 chargers need dedicated circuits and 240-volt outlets. Homeowners can also have them hardwired.

Con: Potential Safety Risks From Incorrect Installation

Level 2 home charger installation isn’t a DIY project. You need a licensed electrician to avoid potential electrical safety hazards. In most areas, EV charger installation also requires a permit. Hiring a licensed electrician will help you cover all bases.

To schedule EV charger installation in Lincoln, NE, contact Ambition Electric today.