How Much Does it Cost to Charge an Electric Car?

A quick overview at the cost involved in charging your electric car highlighting the different type of chargers, tariffs and any additional costs you may incur to charge your electric vehicle.

As electric vehicles (EVs) become more popular in the UK, understanding the costs associated with charging them is essential for prospective buyers and current owners.

Charging an electric car can be more economical than fuelling a traditional petrol or diesel vehicle, but several factors influence the overall cost. Here, we'll break down the key elements affecting charging costs, typical expenses, and tips to save money.

Electricity Tariff

Home Charging: The cost to charge an EV at home depends on your electricity tariff. Standard variable rates in the UK average around 28p per kWh (as of 2024). However, many energy providers offer EV-specific tariffs with off-peak rates as low as 7.5p per kWh.

Public Charging: Public charging stations vary significantly in price. Some are free (often subsidized by local councils or businesses), while others can cost between 15p to 69p per kWh.

Battery Size and Efficiency

The size of your car's battery, measured in kilowatt-hours (kWh), directly affects charging costs. Larger batteries take more energy to charge. Additionally, the efficiency of the vehicle (miles per kWh) impacts how far you can travel on a full charge.

Type of Charger

Slow Chargers (3-6 kW): Typically found at home or work, these are the least expensive but take longer to charge a vehicle.

Fast Chargers (7-22 kW): Often available in public places like supermarkets, they charge quicker but can be more expensive.

Rapid Chargers (43-350 kW): These can charge an EV to 80% in about 30 minutes but are usually the most costly per kWh.

Typical Charging Costs

To provide a clear picture, let's consider a few scenarios based on an average EV with a 60 kWh battery and a range of about 250 miles.

Home Charging

Standard Tariff: At 28p per kWh, a full charge would cost 60 kWh * 28p = £16.80.

Off-Peak Tariff: At 7.5p per kWh, a full charge would cost 60 kWh * 7.5p = £4.50.

Public Charging

Free Chargers: No cost.

Average Public Chargers: At 35p per kWh, a full charge would cost 60 kWh * 35p = £21.00.

Rapid Chargers: At 69p per kWh, a full charge would cost 60 kWh * 69p = £41.40.

Workplace Charging

Many employers offer free or subsidized charging. If free, the cost is £0.

Monthly and Annual Costs

Assuming an average UK driver travels about 10,000 miles annually, and the EV efficiency is 4 miles per kWh:

Annual Energy Requirement: 10,000 miles / 4 miles per kWh = 2,500 kWh.

Home Charging (Standard Tariff): 2,500 kWh * 28p = £700 annually.

Home Charging (Off-Peak Tariff): 2,500 kWh * 7.5p = £187.50 annually.

Public Charging (Average Rate): 2,500 kWh * 35p = £875 annually.

Additional Costs

Installation of a Home Charger: The cost of installing a home charging point typically ranges from £500 to £1,200. However, the UK government’s EV chargepoint grant can cover up to £350 of this cost.

Subscription Fees: Some public charging networks require a monthly subscription fee, which can range from £5 to £20.

Parking Fees: Some public chargers may have associated parking fees, especially in urban areas.

Tips to Save Money

Switch to an EV-Specific Tariff: Look for energy providers offering cheaper rates for EV owners, especially those with off-peak rates.

Use Free Charging Points: Take advantage of free charging points available at supermarkets, shopping centres, and other public locations.

Plan Long Journeys: Use apps to find the cheapest charging options along your route.

Optimize Charging Times: Charge your EV during off-peak hours when electricity is cheaper.

Government Grants and Incentives: Utilize government schemes that subsidize home charger installation and other costs associated with EV ownership.

Conclusion

Charging an electric car in the UK is generally more cost-effective than fuelling a traditional vehicle, especially with the right tariff and charging habits. By understanding the factors that influence charging costs and making informed choices, EV owners can significantly reduce their expenses while contributing to a greener future.