The Electric Car Owner’s Guide to Home Charging Costs and Savings
Home EV charging is a convenient and cost-effective method to power your Electric Vehicle (EV); it’s not only typically cheaper than public charging stations and traditional petrol or diesel options but ensures you’re prepared for the day ahead with a 3kW or 7kW charger that provides about 15-30 miles of range per hour of charge.
However, it’s important to understand that your home energy bills will see an increase while you are using an EV charger at home.
This article outlines the factors that influence how much it costs to charge your electric vehicle at home, with suggestions on how to minimise these costs too.
Factors Influencing the Cost of Charging an EV at Home
Electricity Rates and Energy Tariffs
Electricity Cost Variability: The cost of charging an electric vehicle at home is significantly influenced by the electricity rates, which in the UK are based on a per kilowatt-hour (kWh) system. These rates can vary depending on your energy tariff, with an average rate of about 32p per kWh.
Optimal Tariff Selection: Choosing the right energy tariff is crucial. Specialised EV tariffs offer reduced rates during off-peak hours, making charging at home more affordable.
Charger Type and Installation
Charger Varieties: The type of home charger impacts the overall charging costs. Chargers are categorised by power outputs like 3 kW (slow), 7 kW (fast), and up to 22 kW (faster), each suitable for different charging needs.
Installation Requirements: To install a home EV charger you’ll need to comply with specific regulations. That’s why we always recommend asking a professional contractor like V-Lectric to install your home EV charger. Wall-mounted chargers are a popular choice for homes with off-street parking.
Vehicle Specifications and Usage
Battery Size Influence: The size of your EV’s battery determines how much it’ll cost to charge. Larger batteries require more electricity, so its important to choose a car with a battery size that suits your budget and driving patterns.
Cost Per Mile: Charging costs can also vary by vehicle type. For instance, smaller cars like the VW E-Up may cost about 7p to 8p per mile, whereas larger vehicles like the Tesla Model 3 might cost around 9p per mile when charged at home. During off-peak times, these costs can drop significantly to around 2.4p per mile.
Installation Costs and Incentives
Average Installation Cost: The typical cost for installing an EV charger at home is approximately £1,000, including the installation service.
Government Incentives: For those considering the installation of a home charger, financial assistance is available through a grant from the Office for Zero Emission Vehicles (OZEV), which can offset the cost by up to £350.
Calculating Your Home Charging Costs
Using Online Calculators for Cost Estimation
EV Home Charging Calculator: Websites like Zapmap provide a tool specifically designed to calculate electric car charging costs at home. Simply input your vehicle model, the power rating of your home charger (3kW or 7kW), and your current home electricity cost to get detailed insights.
Reducing Your Home Charging Expenses
Optimise Tariff and Charging Time
Adopt Dual-Rate Tariffs: Look out for two-rate tariffs specifically designed for EV owners, offering reduced rates during off-peak hours, which can significantly lower the cost of charging your electric car at home.
Charge During Off-Peak Hours: Take advantage of lower electricity rates by charging your EV during off-peak hours.
Smart Chargers
Install Smart Home Chargers: Choose a smart charger that automatically adjusts charging times to off-peak hours.
Use Smart Charging Apps: Use apps that monitor and manage your charging habits to provide insights that help you charge at cheaper times.
Government Grants and Incentives
As well as the OZEV grant to help with installation costs, there are other incentives available to EV owners such as Energy Incentive schemes which offer financial rewards for charging your EV during specific times.
If you’re considering installing an EV charger at home there’s never been a better time. We’re offering a 10% discount on EV installation to all V-Lectric customers. Simply quote 10OFF when enquiring about your home EV charger installation.