Electric vehicles have been demonstrated to be great for the environment, but are they as good for your budget? In short, the answer is yes. This is because the day-to-day running costs of an electric vehicle are much lower than that of a petrol or diesel vehicle, particularly with regards to fuel.
Other UK Government initiatives, such as the Electric Vehicle Homecharge Scheme (EVHS), certainly help with the cost of EV ownership. If you’re unfamiliar, the scheme reduces upfront EV charging infrastructure installation costs by up to 75%.
But how much will charging your electric vehicle cost? Well, as it turns out, it will likely depend on where you charge and what type of charger you will be using most often.
So let’s run through your options and their associated costs.
How Much Does Workplace EV Charging Cost?
The increase in electric vehicle sales has made workplace EV charging a priority to many UK businesses. The Workplace Charging Scheme (WCS) has also led to an increase in workplace EV charge point installations.
The cost of charging your vehicle at work depends on your company’s policies. For example, some businesses offer free charging to employees as a staff incentive. Free workplace charging can also be time-based to increase the number of employees that can enjoy the charging spaces.
On the other hand, businesses can also choose to charge employees a set tariff for workplace charging. Generally, the employee tariff will be no higher than the cost of public charging.
How Much Does Charging at Public EV Charge Points Cost?
Public EV charge points are a convenient way to keep your vehicle powered when you’re on the go. In addition, many businesses, such as retailers, now offer free EV charging to their customers. So, if you’re a regular shopper, charging your vehicle could cost you next to nothing.
However, not all public charge points are free. Some of them have a fixed tariff that can be paid online, while others allow you to pay using an app.
However, public charging is not a reliable way to keep your vehicle powered. Charging an empty electric vehicle battery can take up to 8 hours. The last thing you’d want to do is spend most of your day parked up at a charging point.
Is Home EV Charging Affordable?
Home EV charging is by far the most convenient and affordable way to keep your electric vehicle topped up. Some electric vehicle drivers prefer to charge their vehicles overnight using their home socket, while others install an EV wallbox charger.
The average cost of fully charging your electric vehicle at home is roughly £9.20, based on the average domestic electricity rate of 17p per kWh. For example, charging a Nissan Leaf (2018) with a battery size of 40 kWh would cost approximately £6.12 or 4.3p per mile for a full charge. A Tesla Model S 100D with a battery size of 100 kWh would cost approximately £16.15 or 4.7p per mile for a full charge.
Most drivers choose to charge their electric vehicles overnight. Smart EV chargers allow you to control your charging time using a mobile app, making it the most convenient way to charge your electric vehicle.
Why Choose Applegarth for Cost-Effective EV Chargepoint Installation?
Making the switch to electric vehicles comes with many questions. For example, drivers are often concerned about how they will charge their vehicles and the cost of charging. That’s why it’s an excellent idea to reach out to an experienced EV installation company so you can avoid costly installation mistakes.
Here at Applegarth, we boast almost 15 years of experience in renewable energy installations. We are an Office for Low Emission Vehicles (OLEV) approved installation company, which allows us to provide OLEV grant assistance. We have helped businesses and homeowners choose the correct EV charge point for their properties and have provided essential grant support to reduce their installation costs.