Letters: Saving money through EVs

[Re: To turbocharge our own EV revolution we must ensure affordability for all, June 21]

Electric vehicles are seen as the car of choice for the elite. This is mainly due to the cost – a leading obstacle many drivers face when considering whether to invest in an EV. Over half of EV owners sit in the top 20 per cent of earners in the UK. And, with the government’s recent announcement that it plans to cut its famed plug-in grant scheme, it makes little sense to think EVs are where you should turn if you’re looking to save money.

But the fact remains: EVs are cheaper to run than petrol cars, and there are plenty of leasing options emerging. The cost-of-living crisis has forced fuel prices up at a phenomenal rate. Now, the cost of topping up your car is around £100, whereas the average cost for the same mileage via an EV would cost £24 when charging at home.

Not only are they now cheaper to run, but EV drivers can use something as simple as an app to save money on their energy bills. Smart charging (which automatically uses the cheapest, greenest energy available when you plug in at home) can save a further £250 a year on top of that.

And this is just the start: EVs connected to the grid can also help smooth out the UK’s overall energy demand. By easing energy demand peaks and troughs, pricing will come down – as we can make better use of excess renewable energy on the grid.

EVs are not the sole solution to the cost-of-living crisis, but they’re certainly starting to shine when it comes to their long-term saving capabilities.

Nick Wooley