EV Charging – How Much Does It Cost You?
Aside from being good to the environment, one of the key reasons for switching to electric vehicles is cost savings. Electricity rate is more stable and less expensive than the price of gasoline. But you might be wondering, how much does an electric vehicle charging cost you?
This question doesn’t have a specific answer as the cost depends on a variety of factors. Suppose you want to have rough calculation of how much each electric vehicle charging costs you. In that case, there are two main things to consider – the type of your car and your charging location.
EV Charging Cost According to Manufacturers
According to the Department for Transport’s latest data, the three top–selling electric vehicles in the UK in 2020 are Tesla Model 3, Nissan Leaf, and Renault Zoe.
According to manufactures, the average cost per full charge for each vehicle are as follows:
- Tesla Model 3 – £9.60
- Nisan Leaf – £5.76
- Renault Zoe – £8.00
The monthly charging cost for each vehicle is around £20 to £25. The monthly fuel cost for Ford Fiesta, the current most popular diesel-powered car in the UK, is £79.41. If you compare the prices, EV charging is three to four times cheaper than diesel.
EV Charging Cost According to Location
Numerous charging stations offer to charge for free. However, there are also some that charge and may cost you more. An average cost for full EV charging at a station is £13, still way much cheaper than fuel cost.
Many companies have found installing EV chargers at work advantageous for their business. It does not only provide them the personal benefit of going green, but they also extend these benefits to their employees.
What makes this more interesting are the schemes existing in so many workplaces in the UK where the charging rate is either subsidised or offered for free.
Although you may incur some charges during the installation process, charging electric vehicles at home is considered the cheapest option.
On average, a full EV charge at home will cost you between £5 and £10, depending on the type of electric vehicle you are driving. What makes at–home charging more convenient is that you will never have to drive to the charging station. You can also schedule your EV charging at smart times (when electricity cost is lower) and save on your electricity bills. For example, you can set your smart electric vehicle charger to charge automatically during the night while sleeping.
Charging at home can lead to huge savings depending on your electricity rate.
EV Charging Benefits
There are tons of benefits in switching to electric vehicles, not just personally but also in the environment. Zero carbon emission is a massive help in delivering significant air quality around us.
The type of electronic vehicle and your charging location both play a significant role in your decision-making. If you are still having second thoughts about having an EV charger installed and want to know what the experts think, feel free to contact us to talk to one of our specialists.