How To Manage Your Electric Car Bills
Electric vehicles (EVs) get more popular because of their lack of tailpipe emissions, their ever-growing range, and the ever-growing access to infrastructure that can accommodate their use.
The government is pushing for all new vehicles and cars sold across the UK to be completely electric in 2035. They’re hoping the adoption rate of EV use will grow in the coming years as people begin to realize the benefits of electric vehicles. But, some remain in awe due to the ignorance of the cost of using an electric car and the possibility that it could end up putting a dent in their pockets more than diesel and petrol alternatives.
A car powered by electricity can be more efficient than combustion engines; however, it does require some discipline. We review how much the typical cost of charging an electric vehicle and provide some suggestions on how to keep them lower.
Charging Costs of Electric Vehicles
However, they vary from region to region and also based on the supplier you use. According to the most up-to-date Department for Business, Energy & Industrial Strategy information for the year, average UK electricity rates per Kilowatt-hour were 18.9p in 2021. This means that it could mean that the cost to charge 60 kWh of electric cars for 200 miles is in the range of PS11.00 and PS12.00.
Below is a table listing some of the most well-known EV options and an approximate calculation* of the amount they’d be to charge fully at home at the current rate. You can estimate the cost of fully setting up an electric vehicle by applying the following formula.
It is important to note that electricity costs are high and currently highly volatile. The above table is just a snapshot of the current price. Therefore, you should review the charges you will be charged for your vehicle according to your tariff.
It is important to note that vehicles will have different rates based on the model, brand, and how you operate them. Calculated at an average UK cost of 150.97pence per LiterTop Tips to Save Money on Electric Cars.
There are many ways to make the most of your dollars from EVs, and in this article, we examine some ways to save money on electric cars. The battery is charged between 20-80 percent of the storm.
Inspecting that your car is kept at 20% of its charge whenever possible is beneficial to your wallet and the battery’s durability. The first and the last 20% of power within the battery will take longer to charge, increasing the amount you pay for. By keeping your car running between 20 and 80%, you can reduce the charging time. Many automobiles will allow you to set the time to stop charging.
Utilize an intelligent charging app or device
Innovative charging applications and other devices will help you monitor your electric vehicle’s battery to determine the most efficient and economical time to charge it at home. They can also provide you with insight into the usage of your car. This will assist you in selecting the most suitable electricity tariff that suits your needs, and being aware of the time you charge will reduce your expenses. Many car makers now offer an app to accompany the EVs; some allow you to choose the time of day you want your vehicle to charge and for the time.
Make use of the free charging stations
Charging stations aren’t commonplace in the UK; therefore, you seldom wonder, “Where is the best place to charge an electric vehicle?’ However, you’ll likely have to pay to use charging stations. A savvy electric vehicle driver is aware that there are some locations with charging stations that are free, but you can make use of them with some forward thinking.
For instance, many larger supermarkets now offer free charging stations in their car parks when you are on their premises, so coordinating your next charge to coincide with the weekly shopping trip is an ideal idea. Additionally, a few EV manufacturers have a network of charging stations providing lower charging costs. Hotels and certain attractions provide a complimentary charging service and several offices. In some areas of the UK, including Scotland, a few free charging stations are available for public use.
Make use of government-sponsored schemes to set up an electric charger in your home
The UK government is trying to convince customers to change towards EVs. There are a lot of incentives that can help lower the burden of buying one. For instance, an initiative helps subsidize costs associated with installing a wall box in your home that provides fast charging for your vehicle. There are grants to help with the price of a vehicle and leasing and tax-saving programs that allow you to pay your salary before tax. So it’s worth looking into the options readily available to you. Companies can also avail incentives to install charging points and tax credits on electricity usage.
Use Time of Use Tariffs
Timing of Use Tariffs is a fantastic way to ensure that the electricity you consume to charge your electric vehicle is much less expensive, in addition to having the added advantage of being more eco-sustainable. Timing of Use Tariffs, for instance, 100Green’s Tide tariff offers the lowest electricity price when they are used during off-peak hours and, therefore, if you’re using Tide and have set your car to charge in off-peak hours, it could save you substantially. Not just the smart meters or smart apps, but you could be one too.
Additionally, if more people were to make use of energy during off-peak hours, it would help alleviate pressure on your energy systems during peak hours, which would improve the effectiveness of our infrastructure and ensure that we don’t have to start coal-fired power plants to meet the demands of a large number of people.
Tide is designed to appeal to those who recognize that sustainability is also cost-effective If you’re willing to alter your behavior. To find out more about our TIDE cost, click here.
