How Much Are Electric Boats?

How much does an electric boat cost? Well, the price varies from $1,000 to over $4 million, which can be a lot heftier than an electric car. The price of a new electric boat will depend on its type, size, and capability. 

The prices of all-electric canoes or kayaks range between $1,000 and $5,000. Jon boats can be purchased for approximately $5,000 to $10,000.

The prices of small electric runabouts and skiffs range between $10,000 and $20,000.

Electric monohull cruisers, ideal for slow-speed entertaining and enjoying sundowners on the lake, range in price from $60,000 to $75,000.

Sport Cruisers range in price from $120,000 to $175,000, while ocean-capable center console boats cost as much as $300,000. Luxury catamarans will cost $1,000,000 to more than $5,000,000.

Key Takeawaysย 

  • Electric motors are suitable for several types of boats but unsuitable for boats requiring high power, high speed, or long distances (unless recharged from a solar system.)
  • Electric motors are more reliable and cheaper to maintain and run, especially in the long run.
  • Finance schemes are available for electric motors. No federal or state assistance is available for private buyers switching to solar.

๐Ÿšค Types Of Electric Boats 

There are still no electric outboard motors suitable for power boats requiring high levels of torque or high speed.

Most owners requiring these characteristics will generally choose a 200hp or more (450hp) powerplant. No viable electric motor or batteries can provide this level of sustained power.

That being said, it’s only a matter of time before this hurdle is solved by the industry. In the meantime, here are the most powerful electric outboards currently on the market today.

Several types of boats are suitable for electric propulsion systems. The boats that are suited to be powered by electric motors are listed below.

Small Electric Boats

Small boats are ideally suited to be powered by electric motors. The most suitable small boat types include:

  • Kayaks
  • Canoes
  • Jon Boats
  • Runabouts
  • Skiffs

Mid-Size Electric Boats

Suitable โœ…Unsuitable โŒ
Electric Pontoon BoatsBowriders
CruisersSki Boats
Sports CruisersSpeed Boats
Center Console BoatsDeck Boats
Cabin Cruisers (depends on size and hull shape; deeper V increases friction)

Large Electric Boats (Catamarans) 

Large boats with efficient hull shapes are a very good platform for adding electric power.

The large hull size provides space for the batteries, and the superstructure provides space for a solar power charging system. Boats that fall into this category are:

  • Catamarans
  • Motor Yachts

๐Ÿ’ฒ Prices For Each Type Of Electric Boat

The price of different models of electric boats varies considerably.

At the lower end of the market (canoes, kayaks, Jon boats, and skiffs) compare favorably with their equivalent gas-powered models’ cousins; however, above this, electric propulsion adds significantly to the cost.

The following lists a sample of electric boats’ prices ranging from canoes to luxurious 70-foot catamarans.

Sample Of Canoe Prices

ManModelLengthPriceHullElectric MotorMotor PowerYear
Old Town106 Sportsman11ft$3,000 VariousMinn Kota45lbs2022
Old Town Sportsman Autopilot12ft$4,000 VariousMinn Kota45lbs2022
Old Town Sportsman Autopilot13ft$4,500 VariousMinn Kota45lbs2022

Sample Of Kayak Prices

ManModelLengthPriceHullElectric MotorMotor PowerYear
Ascend 133X Yak-Power13ft$1,080 VariousOwner choice3hp2022

Sample Of Jon Boat Prices

ManModelLengthPriceHullElectric MotorMotor PowerYear
Duranautic DN143614ft$4,867 AluminumMinn Kota55lbs2023

Sample Of Skiff Prices

ManModelLengthPriceHullElectric MotorMotor PowerYear
Duranautic DNB14RS14ft$10,966 AluminumEPropulsion5hp2023

Sample Of Runabout Boat Prices

ManModelLengthPriceHullElectric MotorMotor PowerYear
DuffySouth Coast18ft$20,000 FiberglassElectric Stern DriveTBA2008

Sample Of Center Console Boat Prices

ManModelLengthPriceHullElectric MotorMotor PowerYear
X Shore Eelex 800026ft$305,560 VariousElectric Inboard225kW2023

Sample Of Cruisers Prices

ManModelLengthPriceHullElectric MotorMotor PowerYear
DuffyBay Island 2222ft$65,000 FiberglassElectric Stern Drive3.5hp2021
DuffySun Cruiser22ft$69,197 FiberglassElectric Stern DriveTBA2022

Sample Of Sports Cruiser Prices

ManModelLengthPriceHullElectric MotorMotor PowerYear
Nova LuxeFaro 516ft$130,000 WoodRIM30kW2023
X Shore X Shore 121ft$139,000 FiberglassTBA125kW2023

Sample Of Pontoon Prices

ManModelLengthPriceHullElectric MotorMotor PowerYear
Bennington168 SL Electric17ft$21,067 AluminumMinn Kota E Drive 4hp2023
CrestCURRENT21ft$39,497 AluminumEPropulsion9.9hp2023
CrestCURRENT20ft$42,500 AluminumMinn Kota E-Drive (with backup gas motor)4hp2023

Sample Of Catamaran Prices

ManModelLengthPriceHullElectric MotorMotor PowerYear
SollinerSolar Electric Cat21′21ft$60,000 FiberglassTorqeedo2,4 Or 6KW2022
FountainePajot MY 3736ft$1,300,000 FiberglassTorqeedo80hp2022
Leopard 5353ft$2,300,000 FiberglassTorqeedo80hp2023
HeliotropeNL 7079ft$3,900,000 CompositeUQM250kW2021
FountainePower 6767ft$4,100,000 FiberglassTorqeedo100hp2022

๐ŸŽ“ Suggested Article: The power of electric boat motors is explained by converting horsepower to kilowatts.

Cost Considerations

The factors which must be considered when calculating a boat’s costs are listed below.

Initial Purchase Price

At the lower end of the market, prices compare favorably with the equivalent gas-powered engines. 

When the electric power rating increases, the costs diverge, and the electric motors become more expensive than their gas-powered cousins.

Operating Costs

In contrast, the operating costs of an electric motor are substantially lower, and even if the batteries need shore power to recharge, this is still cheaper than gas and oil.

It must still be remembered that batteries are needed to power the electric motor, and these have a finite life varying from two to ten years, depending on the type of battery.

Maintenance Costs

Electric outboard motors do not have any components required by a gas power motor, which reduces maintenance costs. The following components are omitted.

SystemOmitted Components
The Fuel SystemGas tank; Fuel lines; Fuel filters; Carburetor or fuel injection
The Power UnitCylinder; Cylinder head; Pistons; Spark plugs; Ignition systems; Crankshafts; Valves; Oil seals
The GearboxWater Pump; Impellers; Oil seals; Clutch dog

Electric motors with the power unit at the bottom of the lower unit:

  • No lower unit.
  • No drive shaft (connecting the motor to the drive shaft in the lower unit).

Because the number of moving parts has been cut and no ancillary systems are needed to keep the motor going, lifetime maintenance costs are significantly lower than a conventional gas-powered motor.

We have a whole article on the lifespans of electric outboard motors if you want to dive deeper into the topic.

๐Ÿ’ฐ Funding options

The funding options for electric motors are listed below.

Financing Options For Electric Boats

The funding options available to electric boat owners are as follows:

  • Cash payment.
  • Unsecured personal loan
  • Secured installment loan, which is often arranged under the manufacturersโ€™ auspices.

Grants And Other Financial Assistance Programs

Several grants and financial assistance programs exist for commercial operators switching over to electric motor power.

There are also grants from Homeland Security providing safety training.

There are no grants available to private individuals converting to electric-powered motors.

๐Ÿ‘ Cost-Saving Measures For Electric Boat Owners

The most effective cost-saving measures are to ensure that the battery stays healthy.

  • Keep the battery dry.
  • Trickle charge the battery when not in use.
  • Ensure that the battery is never discharged below its Depth Of Discharge limit.
  • Maintain the motor in accordance with the manufacturer’s guidelines.

Nice to e-meet you. Iโ€™m Justin, a seasoned sailing journalist and communications pro with more than 25 years of extensive industry experience. And a track record of successfully promoting teams and events on the global stage.