How much does charging an EV add to a household electricity bill?
Do charging costs outweigh the benefits of EVs?
Charging your electric vehicle at home
As the UK government works towards a target of net-zero carbon emissions by 2050, transitioning to electric vehicles (EVs) has become more important than ever. As EVs grow in popularity, many drivers are considering installing home charge points for the convenience of charging their vehicles. However, prospective EV buyers often wonder about the impact of charging on their household electricity bills. Many people assume their electricity bill would dramatically increase after buying an EV, but that is not necessarily the case.
Factors affecting EV charging costs
The cost of charging an electric car depends on a few factors, including the electricity price and the size of the car’s battery. The cost of charging an EV will primarily depend on the following factors:
- Battery capacity: The larger the battery size, the more energy your vehicle will require to charge. For example, a 100kWh EV would cost £30 to charge from 0-100% at a rate of £0.30 per kWh.
- Electricity tariff: If you are on an off-peak electricity tariff, you may be able to take advantage of lower rates by charging during off-peak hours. In the UK, off-peak charging costs on average £0.17 per kWh, whilst charging during peak hours costs £0.30 per kWh.
- Charging speed: The time it takes to charge an EV will differ depending on the charging speed, with higher wattage chargers drawing more power in a shorter duration. Faster charging uses more energy, resulting in increased electricity costs.
Calculating home charging expenses
To estimate the cost of charging an EV at home, multiply the size of the car’s battery by the electricity price per kilowatt-hour (kWh) from your supplier.
As of July 2023, the average standard electricity rate in the UK is approximately £0.30 per kWh. Consequently, charging a Nissan Leaf with a 64kWh battery would cost approximately £19.20 for a full charge. Similarly, charging a Tesla Model S with a 100kWh battery would amount to £30. Considering the Tesla Model S’s range of up to 373 miles, the cost of charging is considerably lower compared to the fuel expenses of a petrol or diesel vehicle covering the same distance.
Putting things in perspective
Homes without an electric car consume an average of 2,900 kilowatt hours (kWh) of electricity annually. If you purchase an electric car and drive it an average distance of 7,400 miles each year, you could expect an additional consumption of 1,762kWh of electricity. This equates to around £730 extra per year on your electricity bill. Though your electricity bill will increase, this additional cost can be offset by the savings on petrol and diesel expenses resulting from the switch to an EV.
Tips for saving money on EV charging
- Electric vehicle electricity tariffs – Researching electric car-specific electricity tariffs could lead to significant reductions in off-peak energy rates. For example, EDF offers a ‘GoElectric’ tariff which allows you to take advantage of 35 hours of off-peak electricity per week at only £0.08 per kWh.
- Install solar panels: If your home has solar panels installed, you can utilise surplus energy to charge your electric vehicle for free. This not only reduces your electricity bill but also contributes to reducing your carbon footprint.
- Plan your charging stops: Strategic planning of your charging stops can help minimize expenses. By pre-determining your routes and charging stations, you can avoid running out of charge and having to rely on expensive fast-charging stations.
In conclusion, charging an EV in the UK does increase your household electricity bill, but the costs can be managed and balanced against the advantages. It’s essential to remember the benefits of EV ownership, such as reduced emissions and lower fuel costs, which far outweigh the minimal increase in electricity bills.
It is important to consider that specific costs and savings will vary depending on individual circumstances, the EV model you have, your driving habits and energy providers. We recommend researching and comparing different tariffs while consulting with energy providers for accurate information tailored to your situation.
Simplifying home charging
If you are in search of a home charge point, Radius Charge offer a vast selection of hardware from the world’s leading manufacturers. Our team of experts is committed to assisting you throughout your EV journey, ensuring a smooth and stress-free experience. Get in touch with us today for a complimentary consultation and discover how we can help streamline your home charging process.