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Electric car owners save nearly £1,000 every year by charging at home

Swapping your petrol or diesel engine for an electric vehicle will save you money on running costs.

But once you have an electric vehicle where you charge it, it will have a big impact on how much you spend to “fill” it with charge.

If you charge your electric vehicle at home with certain energy tariffs, you save money

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If you charge your electric vehicle at home with certain energy tariffs, you save moneyCredit: Alamy

A study by Electrifying.com compared the average monthly home charging cost to using a public grid.

It turns out that those who don’t have off-street parking are paying around £80 a month extra for the cost of charging with public chargers.

That works out to almost £1,000 in extra costs over the course of a year.

The study figures are based on someone who owns a Volkswagen ID.3 and drives 10,000 miles a year in it.

Someone with off-street parking and a VW ID.3 could top it up for just £13.75 a month using a cheaper off-peak electricity tariff.

The cost of using a typical public network is much higher.

Electrifying.com has quoted its charging cost as 50p per kWh, which is an average price for an on-the-go DC fast charger.

That instead adds up to an average of £91.75 in charging costs, meaning those forced to charge on the go are spending an extra £78 on energy every month.

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If those who charge at home charge at peak times instead, the monthly cost increases from £13.75 to £56, but that’s still a saving of £429 a year compared to public charging.

Compared to a petrol-powered VW Golf, whose fuel costs an average of £123 a month at 162p a litre, the ID.3 is up to £1311 cheaper to fill up every year.

Electrifying.com said the difference is “propelling a divided nation when it comes to electric car ownership.”

“It favors single-drive homeowners, who typically live in more affluent and suburban areas, and discriminates against those on lower incomes who don’t have access to parking at home.”

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Ultimately, these cost differentials could slow the transition to an all-electric future for cars.

The report continued, “It also makes EV ownership less attractive to drivers living in smaller buildings in cities where zero-emission vehicles can make the biggest difference to air quality.”

https://www.thesun.ie/motors/8748978/electric-car-owners-will-save-1000-every-year-charging/ Electric car owners save nearly £1,000 every year by charging at home

Fry Electronics Team

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