Electric vehicles (EVs) are a game changer when it comes to lowering motoring costs. Without petrol or diesel charges, car tax, or high servicing costs, running an electric car is both cheaper and more eco-friendly. However, there is still a need to charge an EV and this will affect your home energy bill, leaving many wondering just how much does it cost to charge an electric car at home?
The answer lies with your current energy plan and supplier. Before the advent of EV specific tariffs, Economy 7 and Economy 10 tariffs were the best way to save money on your energy bill as they offered cheaper rates of energy during certain times of the day (normally overnight) helping you pay less for electricity. However, many energy suppliers now offer specific time-of-use EV tariffs, with a renewable energy promise and added benefits for electric vehicle users.
Use our electric car cost calculator below to find out how much extra it will cost on your electricity bills to charge your EV each year.
Financial and green reasons are main motivation points for purchasing an EV and while EV owners will save on motoring costs, it's important to factor in the cost of charging your motor.
Ofgem recently released a qualitive study investigating how purchasing an electric vehicle influences consumers' wider energy usage in the home. The responses varied with some adopting time-of-use tariffs, however a large number were unaware of smart charging and had made no change to their energy use therefore not making the savings they could be.
Home energy costs are often higher for EV drivers as the cost of charging an electric car at home will be included in the overall electricity bill. Although this extra expense can sometimes we outweighed by running cost savings, if you're not carefully reviewing your energy costs and finding the right deal you may be losing out.
The cost of charging your EV at home will vary dependent on the model and make of the vehicle and the cost of the energy supply. The two components that make this up are:
For example, a Nissan Leaf is fitted with a 40 kWh battery pack whereas the latest 2021 Tesla Model 3 LR has a 82 kWh battery pack. The time to charge these two vehicles would differ and so would the price point per unit of electricity on different tariffs.
If you want to work out the cost to charge an electric car, use our calculator below to do the heavy lifting when it comes to looking at your current usage. You'll need to know what tariff you are currently on and the amount you're currently paying per kWh. For more help understanding this, check out our article on kWhs.
Another cost to factor in if you're a new EV driver is getting a home charging point installed, which can set you back around £800. When purchasing an EV some dealers will include, or put towards, the installation of the home charging point within their price so it is always worth asking. Some EV tariffs will also include money towards installing charge points if you are unable to get one through a dealer.
You can also apply for the government's OZEV grant. OZEV are a government team who provide funding to support charge point infrastructure across the UK. This grant will offer up to 75% towards the cost of installing and electric home charge point.
EV tariffs are similar to other time-of-use tariffs in that they will give you different prices for electricity at different times of the day based on peak and off-peak periods. Naturally, during the off-peak period, demand is lower on the electricity network and rates are much cheaper.
However, don't forget to look at the rates for other times of the day, and standing charges. British Gas for example, charge 5.99p/kWh during their non-peak hours (12am-5am) and 19.5p/kWh at all other times. So, depending on your home usage, the range of appliances you are using throughout the day, and how much you actually charge your EV, you may find that you end up paying more.
For those focused on green credentials, most EV tariffs feature a renewable energy promise with suppliers matching energy usage to electricity from renewable sources reducing your carbon footprint.
Other perks of taking out electric car tariffs can include 'free miles', discounted charger installation costs, and free public charging stations memberships, which could be the difference when making the decision between one supplier over the other.
If you're looking at purchasing an EV, or already have, contact your energy supplier in the first instance to discuss your current electricity contract and future/current needs. If you're ready to compare deals, we can guide you on how to switch energy suppliers and get the best tariff that suits your needs. Use our energy comparison tool today to find the best deal for you.
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