There are many false narratives surrounding electric vehicles, including how expensive they are perceived to be. Initially, this may have been true. However, the prices of EVs are falling, as are their additional running costs and combined with their reduced need for maintenance, are predicted to be more cost-efficient than petrol or diesel vehicles within the next five years.
With all this in mind, we’re focusing on one of the most asked questions of those thinking about switching to an electric car, especially within the current financial climate… ‘Is charging an electric car cheaper than filling up with petrol?’
The cost of filling up a car with petrol will naturally vary from vehicle to vehicle and depend on a number of factors. For example, the engine size, type of vehicle and of course, the cost of petrol. Due to supply and demand, the prices of fuel will vary and can therefore hugely influence how expensive it is to fill a car with petrol. A simple internet search can tell you what the current price of petrol is per litre, or you can find the UK average here.
If the UK average petrol price is £1.70 per litre, a car with a 40-litre tank of petrol will cost £68.00 to fill.
Much like with gasoline-fueled vehicles, the cost of charging an EV can vary depending on several influencing factors.
The type of charge point used will influence how much it will cost to fully charge an electric car. For instance, a home charge point will reflect the current energy prices and therefore will be the lowest rate available at that time among all types of EV charge points.
In comparison, public charge points tend to be more expensive to use, due to providers adding an additional usage charge on their EV sockets.
Fast or rapid charge points tend to be the most expensive way to charge your electric car. Although they are more convenient and have the potential to cut charge times in half, these of course come at a price.
Much like how fuel prices fluctuate and affect the cost of filling up a tank of petrol, energy prices impact how much it costs to charge a vehicle. The more expensive energy prices are, the more expensive it will be to charge a vehicle. Energy prices can be checked online and if you have your own home EV charge point installed, you will be able to check your own energy tariff.
In the UK, the average price per kWh is estimated at £0.19. Therefore, to charge a 62 kWh battery, such as that of the Nissan Leaf, will cost £11.78. A larger battery, such as that of the Tesla Model X (95 kWh), would cost £18.05 to fully charge.
There are certain energy tariffs available that allow for cheaper energy rates during off-peak times. This means that it can be cheaper to charge an electric vehicle at certain times of the day, usually during the night. This gives charging an electric vehicle an advantage over filling up a petrol car, as there is an aspect of control over how much it will cost you.
Although the cost of energy fluctuates and increases happen, by examining all the influencing variables it can be concluded that charging an electric vehicle does result in being cheaper than filling up with petrol. This, therefore, makes electric vehicles both more cost-effective than gasoline cars, as well as being more sustainable, especially with the use of a home EV charge point and benefiting from off-peak charging.
If you’re interested in installing your own EV charge point for your home or business then get in touch. Our smart chargers hold a host of benefits to improve your EV experience.
Call us on 0330 002 1154 today for a free quote.
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