When it comes to electric vehicles, one of the most commonly asked questions is actually about charging, more specifically, how much does it cost to charge an EV. This isn’t really surprising because most consumers care about the bottom line – how much money they will be able to save by using an electric vehicle.
Although it’s often said that running an electric vehicle costs around 20 percent of the price of using fuel, once you take lower running costs and cheaper road tax into account, it is actually really difficult to work out the exact charging costs of EVs – difficult. But not impossible.
How to Calculate EV Charging Cost
If you’re wondering how to best work out EV charging cost for yourself here’s what you need to do:
Pennies per kilowatt-hour instead of litre
When you’re calculating the cost of fueling your car with petrol or diesel, you tend to look at the amount of money you spend per litre to fuel your tank. When it comes to EVs, this obviously is not applicable, but you are still using an energy source in the form of electricity, so what you need to do is work out the average cost of charging your car per hour, otherwise known as a kilowatt- hour or kWh.
A kWh is a standard energy measurement that your energy supplier uses to work out your bill. It is based on an individual using 1,000 watts of electricity for a single hour. Usually, you can find this information on your home’s electricity bill, but if not, your energy supplier will be able to give you the info. Usually, though, a home energy supply is roughly between 10 and 14 pence per hour. At the time of writing this, the average cost of petrol per litre is 126.9. That may not look like a favourable comparison, but you haven’t yet taken into account how many litres it takes to fill your vehicle vs. how many hours it takes to charge your EV.
Most average cars will require between 45 and 50 litres of fuel to fill them – for example, a Ford Focus has a 55-litre tank – which means it will cost between £56.1 and £82.40 to fill the average car.
The average electric car will take around 8 hours to charge, which means it will set you back between £8 and £14 to charge on average depending on your energy supplier and the exact vehicle – the Tesla takes around 10 hours to charge for example, while the Mitsubishi Outlander can be charged in as little as 1 hour and 20 minutes.
As you can see, the savings when using an EV as opposed to a fuelled vehicle are huge!
How Much Does a Home EV Charging Station Cost
How much does an EV charge point cost? This depends on the make and model and whether you’re purchasing for your business or personal use. However, one of our grant-funded charge points will set you back as little as £529 depending on your specific requirements and whether you are eligible to receive money off your order or not (grants of up to £350 are available for domestic installations via OZEV when you choose an OZEV approved supplier like us). So, do get in touch with us to talk through your EV charging station installation cost. Think how much you could save in the long-term if you do!
Cost of EV Charging for Business
EV charging station infrastructure costs can be a great way to lower your company’s carbon footprint and boost your green credentials, but it can also be expensive. Luckily, many businesses can benefit from grants of as much as £14,000 via OZEV, which means it might be a much more viable project than you had thought. Before we can advise you on cost, we will need to know exactly what you have in mind and whether you have any bespoke requirements for your EV charge point installations, so please do get in touch with the team here at EV Solutions to see what is possible, how much it is likely to cost, and whether you can benefit from generous business grants.
Call EV Solutions Today!
If you would like to install an EV charging station, you need the best, so why not get in touch with EV Solutions – specialists in Electric Vehicle Charging – today? You can call us on 0191 5976780 or 07739 103347. If you’d prefer to email, you can reach us at info@EVSolutions.uk. We look forward to helping you with all your EV charging needs!