How does installing a home EV charger impact my electricity bill?

Installing a home EV charger can increase your electricity bill, but the impact can be managed effectively with the right strategies and tariffs.

Understanding the Costs

Charging an electric vehicle (EV) at home uses electricity that is typically priced per kilowatt-hour (kWh). The cost of charging depends on the tariff you are on, the efficiency of your vehicle, and your driving habits.

Current Pricing and Costs

• Average Electricity Cost: In the UK, the average electricity cost is approximately 24.5p per kWh for standard rates. However, EV owners can benefit from special tariffs that offer lower rates, especially during off-peak hours.
• Off-Peak Tariffs: Using off-peak tariffs with rates as low as 7.5p per kWh can significantly reduce the cost of charging an EV. This requires a smart charger that adjusts to time-varying rates.

Example Costs

• Monthly Charging Costs: Assuming an average EV driver uses about 158 kWh per month, the cost at a standard rate of 29p per kWh would be approximately £45.82. However, with an off-peak rate of 7.5p per kWh, this could drop to around £11.85 per month.

Impact on the Electricity Bill

The impact on your household electricity bill will vary based on your specific circumstances:

• Average Bill Increase: For most homeowners, installing a home EV charger typically increases the electricity bill by about 10% to 15%. If you currently pay £140 per month, expect an increase of £14 to £21.

Practical Advice

To minimize the impact on your electricity bill:

• Choose the Right Tariff: Opt for EV-friendly tariffs that offer lower off-peak rates to reduce charges.
• Use Smart Chargers: Invest in smart chargers that can adjust charging times to take advantage of off-peak rates.
• Efficient EV Use: Be mindful of your driving habits and consider ways to increase your vehicle's efficiency.

Pros and Cons

Pros:

• Environmental Benefits: EVs produce zero tailpipe emissions, contributing to cleaner air quality.
• Lower Fuel Costs: EVs generally have lower running costs compared to traditional gasoline or diesel vehicles.
• Government Incentives: There may be incentives or tax benefits available for EV owners.

Cons:

• Higher Upfront Costs: EVs and home charging stations typically require a higher initial investment.
• Increased Electricity Bill: As mentioned, there will be an increase in your electricity bill.
• Dependence on Charging Infrastructure: While improving, charging infrastructure can sometimes be limited.

Common Mistakes

• Not Shopping Around for Tariffs: Failing to explore different energy tariffs can result in higher charging costs.
• Not Using Smart Charging Features: Ignoring the benefits of smart chargers can mean missing out on significant cost savings.
• Not Monitoring Energy Consumption: Not keeping track of your energy usage can lead to unexpected increases in your bill.