Electric car owners save almost £1,000 each year charging at home – here’s how

SWAPPING in your petrol or diesel motor for an EV will save you money on running costs.

But once you have an EV, where you charge it will have a huge impact on how much you spend to ‘fill’ it with charge.

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A study by Electrifying.com compared the average monthly charging costs at home versus using a public network.

It found that those who don’t have off-street parking will pay around £80 per month extra in charging costs using public chargers.

That works out to almost £1,000 amassed in extra costs over the course of a year.

The study’s figures are based on somebody who owns a Volkswagen ID.3 and drives it for 10,000 miles every year.

Somebody with off-street parking and a VW ID.3 could charge it for as little as £13.75 each month when using a cheaper night energy tariff.

The cost to use a typical public network is much higher.

Electrifying.com based its charging costs on 50p per kWh, which is an average rate for a DC rapid charger while out and about.

That adds up to an average of £91.75 in charging costs instead, which means those forced to charge out on the road are spending an extra £78 every month on energy.

If those charging at home charged in peak hours instead, the monthly cost rises from £13.75 to £56, but that’s still a £429 saving each year versus charging publicly.

Versus a petrol-powered VW Golf which costs on average £123 per month to fuel based on a 162p per litre price, the ID.3 is as much as £1311 cheaper to ‘fuel’ each year.

Electrifying.com said the difference is ‘driving a two-tier nation when it comes to electric car ownership.’

‘It favours homeowners with a driveway who typically live in more affluent and suburban areas and discriminating against those on lower incomes without access to parking at home.’

Ultimately these differences in cost could slow the transition to an all-electric future for cars.

The Report went on: ‘It also makes electric car ownership less attractive to drivers living in smaller properties within cities, which is the very place zero emission vehicles can make the biggest difference to air quality.’