Recent studies have focused on accuracy as the key state of charge (SoC) estimation algorithms’ performance metrics, whereas just a few of them compare algorithms in terms of energy efficiency. Such a comparison is important when selecting an algorithm that should be implemented on a resource-constrained, low-power embedded system. In this paper, recursive model-based SoC estimation algorithms, such as the extended Kalman filter, have been identified as well-suited solutions for implementation on an embedded platform, providing a good compromise between estimation accuracy and computational complexity that is correlated to energy consumption. Assuming that a decrease in the estimation rate will result in a decrease in both accuracy and energy consumption of the estimator, a theoretical analysis has been conducted to establish how these two metrics depend on the estimation rate. To verify results obtained in theory, two extended Kalman filter-based SoC estimation algorithms of different complexities have been implemented and compared in terms of accuracy, quantified by root mean square error (RMSE), and energy consumption. The obtained results confirm that for a selected type of recursive model-based SoC estimation algorithm, it is possible to achieve an optimal algorithm estimation rate in the sense of satisfactory accuracy and acceptable energy consumption. The analysis and results presented in this paper establish a foundation for a future development of energy-efficient algorithms for SoC estimation in applications where the energy consumption of the estimation process is comparable to the energy consumption of the complete system.