Understanding EV Charging Costs in the UK
The cost of charging an EV at home is calculated based on the vehicle’s battery capacity and your home electricity tariff. EV battery capacity is measured in kilowatt-hours (kWh), which is also how your electricity provider charges for your household energy use. Most EV batteries range from about 40 kWh for smaller models to over 100 kWh for larger vehicles. So, if your EV has a 60-kWh battery and you’re charging it from empty to full, you’ll need around 60 kWh of electricity.
The average cost of electricity is about 30p per kWh, though this can vary with energy price fluctuations and your specific tariff. For a full charge on a 60-kWh battery, the cost would be around £18.00 (60 kWh x £0.30). Keep in mind, though, that most people don’t drain their battery completely before recharging, so your costs may be lower.
Calculating Monthly EV Charging Costs
To estimate your monthly charging costs, consider your driving habits. Here’s an example:
- Daily Driving Distance: Let’s say you drive around 20 miles each day.
- Energy Use per Mile: An average EV uses about 0.3 kWh per mile.
- Daily Charging Needs: At 20 miles per day, you’d consume around 6 kWh daily (20 miles x 0.3 kWh per mile).
- Monthly Usage: Multiply this by 30 days to get approximately 180 kWh per month.
- Monthly Cost: At a rate of 30p per kWh, your monthly EV charging cost would be around £54 (180 kWh x £0.30).
Of course, if you drive more, have a larger battery, or pay a higher electricity rate, your monthly costs could be higher.
Save with Time-of-Use Tariffs
Many electricity suppliers offer time-of-use (TOU) tariffs, allowing EV owners to save money by charging during off-peak hours. These tariffs offer reduced rates for electricity during certain hours, typically late at night. Off-peak rates can be as low as 10-15p per kWh, a significant saving compared to peak rates.
Using our example above, if you charge your 60-kWh battery at 15p per kWh on an off-peak rate, the cost for a full charge drops to £9 instead of £18. If you have a smart home charger, you can easily set it to charge your EV during off-peak hours, letting you take advantage of these savings automatically.
The Impact of Solar Power on EV Charging Costs
For homeowners with solar panels, charging an EV can be even more economical. Solar panels generate electricity during daylight hours, and if you’re able to charge your EV in the afternoon, you can use this renewable energy to power your vehicle at no cost. In cases where you’re not home to charge during the day, a home battery storage system can help you store solar energy generated during the day for use at night, including for EV charging.
If you already have solar panels, adding an EV to your household can be a smart way to maximise your system’s potential. In many cases, EV owners with solar see a reduction in their overall household energy bills, as they’re able to power their car without drawing from the grid.
How Home Charging Compares to Public Charging
One of the biggest benefits of home charging is its cost-effectiveness compared to public charging stations. Public rapid charging points are priced at a premium for their speed and convenience, often costing between 60p and £1 per kWh in the UK. While these stations are handy for longer journeys, they’re more expensive than charging at home. If you regularly charge at public stations, your monthly costs could be significantly higher compared to home charging.
For regular commuting and day-to-day driving, charging at home is typically the most economical option, especially if you can take advantage of off-peak rates or renewable energy.
Will Charging an EV at Home Increase Your Energy Bill?
The short answer is yes, home charging will add to your monthly electricity bill, but it’s still much cheaper than filling up a traditional petrol or diesel car. For example, if you’re spending £50 per month on electricity to charge your EV, this is typically much less than what you would pay for fuel. Plus, EVs often have lower maintenance costs, making them more economical over the long term.
Making the Most of Home EV Charging
By understanding how much it costs to charge your EV at home and taking advantage of strategies like solar energy, you can keep your charging costs manageable. Smart chargers and apps can further help you monitor your usage and take advantage of the best charging times, making home EV charging as cost-efficient as possible.
At MEB, we’re here to support you through every step of your EV journey. Whether you’re considering your first EV or looking to optimise your home charging setup, we’re committed to providing the insights and guidance you need for an efficient, affordable experience.