How much does it cost to charge an electric bike

How much does it cost to charge an electric bike in NYC?

Electric bikes have become one of the main means of transportation for food delivery riders. One of the reasons behind this is their eco-friendliness.

However, the cost of electricity has increased in recent years, which makes people wonder how much does it cost to charge an electric bike, and does the price pay off?

The short answer is that it does, but we need to go a bit deeper.

How much does it cost to charge an electric bike?

There is a simple way to calculate the costs of a single charge. You need to take the battery capacity of your bike (Wh) and divide it by 1,000 to get kWh.

Why kWh, you may ask?

Because your electricity bill is charged per kWh.

Next, multiply the number you’ve got by the value you pay for electricity per kWh.

This is your cost per charge—of course, assuming the battery was completely empty and that you’re charging it until it is full.

The average cost of electricity in the New York area in June 2024 was 28.8 cents per kWh. [1]

Professional e-bikes, such as Storm-2, have a 48 V, 25 Ah lithium-ion battery, which has an energy capacity of 1.2 kWh.

In other words, it would cost you only 34.56 cents to charge a Storm-2 e-bike.

Of course, this price can vary, but the cost is almost never higher than half a dollar - which is pretty cheap, considering how the average price of gasoline in New York in July 2024 was $3.64 per gallon. [2]

What Affects the Cost?

The cost of charging an electric bike varies on several factors, such as:

• Electricity Rates: The cost per kWh varies by region and provider.
• Battery Capacity: Larger batteries require more electricity to charge, which increases the cost. However, this also means they require less frequent charging, which can result in smaller expenses at the end of the month.
• Frequency of Charging: As mentioned, the more often you need to charge an e-bike, the higher the total costs.
• Charging Efficiency: Inefficient chargers can lead to higher costs, as some energy will be lost.
• Depth of Discharge: Charging a completely empty battery to a full is more costly than charging a partially used battery.
• Local Taxes and Fees: Some areas have additional taxes or fees on electricity usage, which can affect the overall cost.
• Time of Use Rates: Some electricity providers charge different rates depending on the time of day. Charging during peak hours can be more expensive than off-peak hours. Off-peak hours are usually during the afternoon or the night, but this can vary.
• Charger Type: Fast chargers might be less efficient and consume more power, leading to higher costs compared to standard chargers.
• Maintenance: Proper maintenance of the battery and charger can ensure efficient charging, reducing unnecessary energy consumption and costs.
• Power Source: If you use solar panels to charge your e-bike, the cost can be significantly reduced after the initial investment in the solar setup.

How to Save Money

There are several tips you can use to save money while charging your e-bike.

For example, you can charge your electric bike only during the night, as this will decrease the cost of electricity.

Also, if you use a proper charger and your battery is properly maintained, you’ll probably use less power during charging, which will decrease the costs.

Another good tip is to choose the best e-bike possible. Storm-2 has a battery with a large capacity and a range of 85 miles per charge.

This is enough for up to 35 deliveries and can last you for a full day of work or even two, depending on the length of your shift.

While it might cost you more to fully charge such an e-bike, you’ll only need to charge it once every few days. This will greatly reduce your monthly costs.

Also, considering Storm-2 only uses high-quality parts, its Samsung battery isn’t likely to malfunction for at least two years.

All of this will help you save some money on charging an e-bike.

How much electricity does charging an electric bike use?

To determine how much electricity will be needed for an electric bike, you need to do some math.

First off, consider your e-bike’s battery capacity. To make things easier, we’ll use Storm-2 again, and it’s 1.2 kWh battery, which equals to 1200 Wh..

Next, consider the charger's efficiency. Most chargers are not 100% efficient.

A typical charger might be around 85-95% efficient.

For this example, we'll assume it’s somewhere in the middle, meaning 90% efficiency.

To calculate the energy required to charge an e-batter, you need to divide the battery capacity in Wh with the charger efficiency.

Using our 1200 Wh battery and 90% charger efficiency, we get to the conclusion that the energy required is 1333.33 Wh, or 1.333 kWh per charge.

Related: How long does it take to charge an electric bike

Conclusion

So, how much does it cost to charge an electric bike?

While charging an e-bike does cost some money, it’s not nearly as much as some people assume.

On the average, charging an e-bike will cost you only 34.56 cents per charge, and some models can cost even less.

Of course, the costs can pile up if you’re charging your e-bike too often, or if you’re using improper chargers and batteries that will use too much electricity.

This is why it’s important to buy only the best e-bikes possible, and Whizz’s electric bikes are just that.

References:

[1] U.S. Bureau of Labor Statistics, Northeast Information Office, Average Energy Prices, New York-Newark-Jersey City, June 2024

[2] Ycharts, New York Retail Gas Price (I:NYGRP), July 22, 2024