► Electric vehicle charging costs explained
► Price comparison with PHEV and petrol equivalents
► Additional savings (such as tax relief) outlined
Electric cars are catching up to petrol and diesel cars in terms of popularity – and it’s easy to see why. There’s plenty of models to choose from, driving ranges are constantly improving and the public charging infrastructure is expanding rapidly, all of which is making it easier for drivers to ditch combustion power for good.
The list of benefits doesn’t stop there, though. If you can stomach the higher purchase price, an electric car could save you thousands in the long run. Electricity is much cheaper than petrol or diesel, meaning an electric car will be cheaper to keep on the road – and EV drivers enjoy perks such as free entry to low emissions zones and zero road tax fees.
You’ll bag even more savings if you have a home charging station. Charging an EV from home can cost less than a round of drinks – and you have the added benefit of never needing to visit a fuel station. Interested in finding out exactly how much cash you could save by making the switch to electric motoring? Scroll down to find out.
How to calculate running costs for an electric vehicle
The capacity of an EV’s battery is expressed in kilowatt hours (kWh) – the same metric used to measure your home’s energy consumption. So, if you know the size of an EV’s battery pack and you’re aware of how much money your energy supplier charges you for each kWh of electricity, it’s easy to figure out how much it will cost you to charge the car from home.
In simple terms, the maths works like this: size of EV’s battery pack × electricity cost of your supplier (in pence per kWh) = cost to charge an electric car from empty to full.
We’ll use the Kia EV6 as an example. It’s powered by a 77.4kWh battery pack – and, at the time of writing, British Gas listed the average electricity cost per kWh in the UK as £0.28. So, 77.4 × £0.28 = £21.67 gives you the cost of charging the car from empty to full at home.
However, it’s worth noting that it’ll take more than seven hours to charge the EV6 from empty to full using a 7kWh home wallbox – so it’s best to leave it plugged in overnight. If you’re in a pinch, public rapid chargers such as those provided by Ionity and BP Pulse can charge the EV6’s battery pack to 80 percent capacity in as little as 18 minutes.
It’s more expensive to use a public rapid charger, though, as you pay for the fancy charging technology and the convenience of short wait times. At time of writing, Ionity was charging £0.69 per kWh – which equates to £53.40 for a full charge with the Kia EV6.
Both of these figures work out cheaper than fueling an equivalent petrol or diesel-powered car, though. The EV6’s nearest combustion-engined equivalent, the Kia Sportage, has a 54 litre tank. At the time of writing, petrol was sitting at an average price of 167.9p – meaning you’re looking at a bill of more than £90 to fill the Sportage’s tank from empty.
We appreciate that we’ve thrown a lot of figures at you during the last few paragraphs – so here’s a summary. To maximise your savings, install a home wallbox, charge your electric car overnight and steer clear of expensive rapid chargers unless absolutely necessary. Do all of that, and you could slash your fuel bills by as much as 25 percent.
The capacity of an electric car’s battery is expressed in kilowatt hours (kWh), which is a measure of the energy storage available in the cells. A Tesla Model S packs a 100kWh battery, for example, whereas the latest Renault Zoe comes with a 52kWh battery pack. So, to calculate how much it costs to charge your car, simply look at the cost of electricity (either your home supply or at a public charging point) and do the maths.
In simple terms, the maths is: Size of battery (kWh) x Electricity cost of your supplier (pence per kilowatt hour) = Cost to charge an electric car from absolutely empty to full.
Don’t worry if you’ve never done this before. In this handy explainer, we’ll show you how to crunch the numbers yourself.
Let’s consider a 100kWh Tesla Model S. At the time of writing, the company’s Supercharger network costs £0.28 per kilowatt-hour, so the total outlay is 100 x 28p = £28 if you were to theoretically charge from completely empty to full.
Switch to a cheaper home supply, which could cost as little as 12p per kWh on a good-value overnight tariff, and the maths works out at a more palatable 100 x 12p = £12.
That might appear a major saving compared to the cost of a £60-odd tank of fuel for a conventional petrol or diesel car. The latest-generation Model S claims a range of around 400 miles on a single charge, whereas a combustion-engined car might rack up some 500 miles between refuelling stops; for the Tesla to do the same, it would have to be charged more often than you’d stop for fuel, which could add to longer journey times.
Consequently, to produce meaningful running cost figures, you need to factor in both an EV’s range and how you’re going to charge it. Rely primarily on less expensive charging solutions, though, and you could stand to rack up some significant savings.
The best electric cars you can buy
The cheapest electric cars to run
choosemycar.com carried out research on the cheapest electric cars to buy and drive with the results below. Almost all the cars are on sale now, apart from those marked with a *.
At £3.75, the Hyundai Ioniq Electric was the cheapest EV to run, though it was quickly followed by two Teslas; the standard Model 3 winning out over the Long Range variant. Despite having one of the lowest ranges of any EV currently on sale, the Honda E still makes it into the list, with a cost per mile of £4.08.
||Cost to Fully Charge
||Cost per 100 Miles
||Hyundai IONIQ Electric
||Tesla Model 3 Standard Range Plus
||Tesla Model 3 Long Range Dual Motor
||Hyundai Kona Electric
||Tesla Model 3 Long Range Performance
||Renault Zoe ZE50 R110
||Volkswagen ID.3 Pure*
Real-world case studies: how much does it cost to charge an electric car?
Just like conventionally powered vehicles, electric cars come in different shapes, sizes and specifications – and will therefore have varying costs. For this article, we’ve studied the running costs of a cheap and cheerful Renault Zoe EV run by our sister site Parkers as a long-term test car.
Researchers on Parkers have compared it to the other vehicles on its long-term test fleet, so you can get a better idea of just how much it costs in the real world.
Don’t forget you’ll need to add the initial cost of a home-charging point to these prices. Go for a basic budget charger and, inclusive of the OLEV grant from the government, it’ll set you back around £200 fitted – whereas a more powerful charger will cost around £1000. Some manufacturers bundle charger installations with new EV purchases, which will help keep costs down.
Electric car battery tech explained: costs, capacity and longevity
Running costs of a Renault Zoe EV
The cost of the Zoe over three months are as follows. We used our colleagues’ 66-mile round-trip journey to work and back as a benchmark, and studied the real-world costs of rival long-term fleet cars for comparison. Before we get into these figures, it’s important to note that these cars are driven by different people with different driving styles, and also that the Leaf’s figures were attained during the winter months; don’t forget that colder weather usually means less efficient batteries.
Renault Zoe cost per mile: 6.1p
Renault Zoe commute cost: £4.03
Compare this with the Parkers’ Nissan Leaf long-term test car.
Nissan Leaf cost per mile: 4p
Nissan Leaf commute cost (est.): £2.64
We’ve also compared the same 66-mile journey to the similarly-sized VW Golf GTE plug-in hybrid:
VW Golf GTE cost per mile: 11.5p
VW Golf GTE commute cost: £7.66
Compared to the Parkers’ Toyota C-HR hybrid (a non plug-in hybrid), you’ll find the following running costs:
Toyota C-HR hybrid cost per mile: 13.4p
Toyota C-HR hybrid commute cost: £8.84
The above suggests that when it comes to hybrids, an electric car is around 50 per cent cheaper. But interestingly, when comparing the running costs of a diesel or petrol car, you’ll find less of a difference.
Parkers’ Citroen C3 is a supermini just like the Zoe, but it’s powered by a 100bhp 1.6-litre diesel. Here’s how it compares:
Citroen C3 BlueHDi 100 cost per mile: 10.6p
Citroen C3 BlueHDi 100 commute cost: £7.00
Meanwhile, Parkers’ Suzuki Swift – which is powered by an efficient 90bhp 1.2-litre petrol engine – produces the following costs:
Suzuki Swift 1.2 Dualjet 4×4 cost per mile: 8.7p
Suzuki Swift 1.2 Dualjet 4×4 commute cost: £5.74
Which proved least expensive? Hybrid, electric, petrol or diesel?
It’s a victory for the Zoe, in terms of charging costs versus fuel costs. And just to make the advantage clear, multiply those commuting costs by five for a typical working week, and then that by four to get an estimate of the monthly difference, and so forth. On paper, based on fuel costs alone, it’s the electric car that has a clear advantage.
This is more real-world than a science lab test, and we’ve taken the figures of different drivers for different cars – but the trends are obvious. Don’t forget that our running costs only take into account the daily commuting we’ve done; add in extra miles done at weekends and in the evenings, and you’d be saving even more money.
What about public charging of electric cars?
Right now, the Parkers’ Renault Zoe only needs to be charged at home each night owing to its current usage. The cost of charging its battery will appear on your monthly electricity bill.
Home charging is generally cheaper than public charging, so the savings could be even more significant. However, when you consider 80% of electric car owners charge at home – according to BP Chargemaster – this is the most common scenario for the majority of EV motorists.
How much cheaper is an electric car per month?
Of course, there are other factors at play that you must take into account when working out the costs and potential savings of electric motoring; depreciation will play a significant factor in your monthly costs, for starters, if you’re buying your EV outright – or, alternatively, you will have to account for monthly leasing or PCP costs. Servicing, however, will often be far less expensive.
Get a handle on those key costs as well and you’ll be able to find out exactly what kind of savings might be possible.
Would I save money with an electric car?
We’d recommend looking at how much you’d potentially use your EV – and then calculate how much you’d need to charge up at home versus on the open road. The likelihood is that an electric car will save you hundreds, or maybe even thousands of pounds a year compared to keeping a conventional diesel or petrol car going – but don’t forget about depreciation and servicing, in any case…
Company-car drivers should consider that electric vehicles only attract 1% Benefit-in-Kind rates at the moment, rising to 2% for the 2022-23, 2023-24 and 2024-25 financial years. Electric cars are also currently exempt from road tax (otherwise known as VED), so there’s a saving to be had there too.
Check out more details on what it’s like to run an electric car in our links below.
Further electric car reading