EV Ownership Costs in Memphis, TN
Memphis, TN has one of the lowest electricity rates in the country at 11.0¢/kWh — home charging costs just $31/month for 12,000 miles. That's cheaper per-mile than almost anywhere in the US. Combined with the federal $7,500 EV tax credit, Memphis, TN drivers see some of the fastest EV payback timelines nationwide.
Memphis Light, Gas and Water (TVA territory) offers low rates. Tennessee has no state EV incentive. Memphis's lower gas prices narrow the annual savings versus coastal cities, but the low electricity rate keeps EV ownership affordable.
How to Cut EV Charging Costs in Memphis, TN
- Ask your utility about EV time-of-use rates — most offer 8–12¢/kWh overnight vs. the standard 11.0¢/kWh rate
- Install a Level 2 home charger ($400–$800 installed) — most utilities offer rebates covering 50–100% of the cost
- Use free workplace or destination charging when available to reduce your home charging bill
- Schedule charging during off-peak hours (10 PM–6 AM) to automatically qualify for the lowest rates
Public Charging in Memphis, TN
Memphis, TN has approximately 210 public EV charging stations. Public charging (Level 2) typically costs $0.20–$0.40/kWh, or 2–4× home rates. DC fast charging runs $0.35–$0.55/kWh. Home charging remains the most cost-effective option for regular daily driving.