How much does it cost to charge an electric car?
The answer is more complicated than you'd first think...
The cost of charging your EV
One question we frequently receive from our clients is how much it costs to charge an electric car. Let’s break down the process and figure it out.
Cost per kilowatt hour
When discussing EV charging, we need to consider the cost in terms of pence per kilowatt-hour (kWh), as opposed to pence per litre. A kWh is a standard measurement of energy that your supplier will use to bill you. For home charging, the cost is typically around 30 pence per kWh, which is significantly lower than petrol prices.
Now that we understand the cost, let’s look at the amount of energy that batteries can hold.
In a petrol car, a 40-litre tank would cost £60.00 to fill up at £1.50 per litre. With an electric vehicle, your tank size refers to the amount of energy it can store. For example, the Tesla Model S has a capacity of around 100kWh. Using the average standard electricity rate in the UK (which was £0.30 per kWh as of July 2023), the cost to charge the Tesla Model S would be £0.30 per kWh x 100 = £30.00.
The table below shows the charging costs for various vehicles, based on the average standard electricity rate in the UK. From this information, we can determine the pence-per-mile cost. For instance, the Nissan Leaf (40kWh) has a range of around 145 miles. If we divide the cost by the distance, we end up with the cost per mile. Using the above figures, the cost of the Nissan Leaf would be £12/145 = £0.082 per mile. This formula can be used to calculate the cost of your own vehicle as well.
Peak and off-peak tariffs
If you’re looking to save money on your electricity, you may want to consider off-peak tariffs. These tariffs allow you to take advantage of cheaper energy rates during the hours of the day when electricity is least consumed. In the UK, off-peak charging costs an average of £0.10 per kWh, while charging during peak hours costs £0.30 per kWh. You can easily schedule your charge point to start charging during these off-peak hours, reducing your charging costs.
If you have any questions or concerns about EV charging, don’t hesitate to reach out to the Radius Charge team. We’re here to help guide and support you through the EV transition.