With more and more people switching to electric vehicles (a predicted 69% of car sales to be EVs by 2030), many are wondering “How much does it actually cost to charge an electric vehicle?”.
The answer is difficult to pinpoint as it relies on multiple factors and it can vary from vehicle to vehicle. In addition, the cost to charge an EV will also depend on whether you are charging the vehicle at your home, at work or in a public charging space (some workplaces and public charging facilities may offer free charging if you use their facilities).
However, what is certain is that it will cost you significantly less per mile than a gasoline vehicle running on petrol or diesel.
In terms of cost per mile, we can make an assumption. Assuming you pay 14p per kWh for electricity and your vehicle travels an average of 3.5 miles per kWh. To charge your vehicle to travel 100 miles would cost you approximately £4.00.
We can also make an assumption on the cost of a full battery charge, based on the average electric car battery size. With a 60kWh battery and 14p per kWh tariff, a full charge would cost you £8.40.
Although we can get a rough estimate of the cost of charging an EV, it’s important to consider the factors that influence the cost.
The type of electric vehicle you have will of course have an influencing factor on how much it will cost to charge. Its weight and size will determine the amount of energy it needs, as does the size of the battery. The battery is the equivalent to the engine in a gasoline car, with the amount of energy it can store the equivalent to how much fuel it takes to have a full tank. If a car battery is 100kWh, it means it requires 100kWh of energy to be fully charged.
EV battery sizes vary depending on the model and manufacturer. The largest battery currently available is the Tesla model S 100d (with 100d representing a 100kWh battery). In contrast, the Renault Zoe has a battery size of 22kWh.
The cost of your energy per kWh is set by your chosen energy supplier. If you have an expensive tariff then it will cost you more to charge your vehicle. If it’s a cheaper tariff, it will cost you less. It is therefore important to consider your current energy supplier and tariff when looking at the cost of electric vehicles.
For instance, the difference between an 8p and 14p energy tariff for a 60kWh vehicle battery would be £3.60. If you were to do a full charge every week, the more expensive tariff would cost you £187.00 more a year to charge your vehicle.
The time of day you choose to charge your vehicle can also have an impact on the cost of a charge. Some energy tariffs offer off-peak options, with some even supplying ones specifically designed for those with electric vehicles. In an off-peak tariff, electricity will be cheaper at certain times of the day. You can therefore make use of these lower prices to charge your vehicle for a reduced cost. However, during ‘peak’ times, it can be a lot more expensive so it is worth making sure that that type of tariff would work for you.
There are therefore a few factors that will influence the cost to charge an EV, however, the overall day-to-day runnings will most definitely be cheaper than a petrol or diesel vehicle, as well as being more environmentally friendly and producing zero vehicle emissions.
If you want to know more about EV charge points and how we can help you choose the right EV charging system for you and your vehicle(s), get in touch on 0330 002 1154 or fill out our online enquiry form here for a free quote.
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