Harry Leahey

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EV owners charging their vehicles from home could save up to £15 per charge and around £600 a year, according to Smart Home Charge. 

The retailer and installer of home chargers says such savings could emerge by switching to off-peak and nightly periods. 

Findings came after the company calculated the cost of charging the top three best-selling EVs (Tesla Model 3, Volkswagen ID.3, Kia e-Niro) sold in the UK during 2021, with energy prices from October 2022. 

Data was compiled by its Energy Tariff Comparison tool, which compares the most and least cost-effective energy tariffs for a range of EV makes and models via its website.

The alarming figures come amidst the cost of living crisis, as Britons grapple with the rising cost of energy. 

For example, using the most competitive tariff for EV charging could cost £5.30 for a Tesla Model 3, while a single charge from an average UK electricity unit could be £12 pounds more expensive for the same car. 

Larger savings can come for those driving a Kia e-Nio, which is claimed to cost owners £6.80 per single charge on an EV-friendly tariff - a £16.32 reduction. 

With a more appropriate tariff, Tesla Model 3 owners could make an annual saving of £476, £547 with a Volkswagen ID.3, and £590 from a Kia e-Niro. 

Annual savings were calculated based on an average of 10,400 miles per year (200 miles per week). 

Earlier studies from Smart Home Charge found that 43 percent of those surveyed admitted to not using time scheduling to charge their vehicles at specific times when electricity is cheaper.

The research also showed 46 percent of all respondents using a standard electricity rate for their home charging needs, rather than a cheaper off-peak or eco rate.

According to the retailer, Intelligent Octopus currently offers the cheapest off-peak rate with the most off-peak hours (23.30 – 05.30).

On the findings, Danny Morgan, Editor and Marketing Manager at Smart Home Charge said: “At a time when the UK is carefully considering pairing back on expenses and looking at savings, we’re glad to be of assistance with highlighting savings EV owners that charge at home can recoup. 

“And not only this, it doesn’t just benefit owners for EV charging, but also for the rest of the household. 

“For example, EV drivers can save on their overall home energy costs by delaying their washing machine, dishwasher and other household appliances to operate during the same off-peak period, like they can for EV charging.”

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Harry Leahey 03/01/23