Electric car home charging cost

Fancy cutting your petrol or diesel costs, but not sure if going for an electric vehicle (EV) will save you money? Keep reading to find out

James Wilson
Feb 8, 2022

Are you considering going electric because it's good for the planet? It might be good for your wallet too, if you buy the right one. Where fuel economy between petrol and diesel cars can differ depending on the model, the same can be said for electric cars. Some will get through more electricity than others, so choosing an efficient electric car will ensure that you can travel further on your money.

So, how big a dent will an electric car make in your bank account? Well, this depends on how much it costs to charge your car and how far it can travel per charge, which is influenced by a range of factors. The big ones are time (both how long the car is plugged in, and at what time of day), location, charging point type and even who owns the charging station if you're plugging in away from home. We've taken a number of averages in our calculations in the table below.

Of course, buying a brand new electric car is bound to be more expensive than opting for a petrol equivalent, so the used car route will be the best way to go about saving money before you can start reaping the longer-term benefits that come with cheap electricity costs.

Due to the large number of potential variables, we are going to focus on three examples of charging at home, as this will likely be the charge point drivers of electric cars will use most regularly. Below is a table which shows the typical cost per 100 miles for some popular electric cars on sale in the UK.

Drivers signed up to cheap energy rates at off-peak hours will get the best value for money - Octopus Energy's 'Go' tariff currently offers a four-hour window at 7.5p/kWh (though prior to the energy crisis this was as low as 5p/kWh). On the other end of the scale, rapid charging can cost as much as 40p/kWh, and sometimes more. Our charging station explainer goes into detail about charging out and about.

Note that manufacturers' claims of efficiency should be taken with a pinch of salt, and in winter months this could plummet. Similarly, it can sometimes be possible to exceed these figures with a gentle right foot and the right environmental conditions (dry and warm is best).

EV charge at home

 

ModelClaimed economy figure (mi/kWh)Cost of 100 miles of travel (7.5p/kWh off-peak rate)Cost of 100 miles of travel (20p/kWh standard rate)Cost of 100 miles of travel (40p/kWh rapid charging)
Fiat 500 Electric4.4£1.70£4.55£9.09
Tesla Model 34.4£1.70£4.55£9.09
Volkswagen ID.34.2£1.79£4.76£9.52
BMW i34.1£1.83£4.88£9.76
Citroen e-C44.0£1.88£5.00£10.00
Peugeot e-2083.9£1.92£5.13£10.26
Volkswagen ID.43.7£2.03£5.41£10.81
Audi Q4 e-tron3.6£2.08£5.56£11.11
Honda e3.6£2.08£5.56£11.11
Renault Zoe3.6£2.08£5.56£11.11
MG ZS EV3.5£2.14£5.71£11.43
Nissan Leaf3.0£2.50£6.67£13.33
Jaguar I-Pace2.8£2.68£7.14£14.29
Mercedes EQC2.8£2.68£7.14£14.29
Audi e-tron2.7£2.78£7.41£14.81

 

One thing to remember is that, even at their most expensive, electric cars are still cheaper to run than the most economical of diesel engines - an efficient diesel car capable of 60mpg will cost around £10.60 for 100 miles worth of fuel with current fuel prices, while an SUV that managed 35mpg will cost as much as £18.90.

So, the conclusion? Even the least efficient electric cars should cost notably less to fuel than very economical petrol or diesel models. However, getting an efficient electric car could still save you a lot compared with one that burns through more electricity.

 

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