Drivers could save more than £1,000 a year by switching to an electric vehicle and charging at home on a low-cost smart tariff, but nearly half still don’t know what it costs to charge an EV.
To mark World EV Day (Weds, 9th Sept), ScottishPower is encouraging drivers to consider making the switch after new research commissioned through Censuswide revealed that 44% of drivers don’t know how much it costs to fully charge an EV at home.
Based on average UK driving distances of around 7,400 miles per year, a typical petrol car could cost around £1,177 a year in fuel, while a typical EV charged at home on a low-cost smart tariff could cost around £155 a year in electricity, representing a potential saving of more than £1,000 annually*.
The findings also revealed that:
- 44% don’t know how much it costs to fully charge an EV at home.
- 47% are unsure whether savings from home charging would offset the cost of installing a charger.
- 38% worry charging an EV could overload their home’s electrics.
- 37% believe charging takes too long for EVs to be practical.
- 55% believe EVs do not have sufficient range for longer journeys.
To help tackle some of the confusion, ScottishPower Green Ambassador and TV architect George Clarke (pictured above) is encouraging drivers to take a closer look at the facts before ruling out electric vehicles.
George Clarke said, “I drive an electric vehicle myself and one of the biggest surprises was seeing how little it cost to keep charged compared with a petrol car. Once you understand how home charging works and take advantage of cheaper charging rates, the savings can really add up.
“There’s still plenty of confusion around EVs, particularly when it comes to charging costs, but the reality is often very different from what people expect. Before dismissing an EV, I’d encourage drivers to take a proper look at the numbers because the potential savings can be eye-opening.”
Despite growing interest in electric vehicles, many drivers remain unsure about the basics of ownership, with common questions including:
- How much does it cost to charge an EV at home?
- Is charging at home cheaper than petrol?
- Does installing a home charger save money?
- How do electricity tariffs affect charging costs?
- Is it cheaper to charge overnight?
- How long does it take to charge an EV at home?
Andrew Ward, CEO of ScottishPower Customer Business, said, “Many drivers are unaware of just how much money they could save by making the switch to electric. For a typical motorist, charging an EV at home on a low-cost smart tariff can cost a fraction of what they would spend on petrol or diesel over the course of a year.
“We’re already seeing growing demand from customers looking to take advantage of smart charging, with customer numbers on our EV Optimise add -on increasing by almost 400% year on year. As more people discover the savings available, we’re helping give drivers the confidence to make the switch.”
Currently, customers who buy a ScottishPower EV charger could also unlock a smart charging rate of just 6p/kWh when they add on EV Optimise to their existing tariff. This is one of the cheapest EV charging rates available in the UK, helping reduce charging costs even further. At that rate, drivers could get around 700 miles of driving for less than £15 a month.**
* Based on average UK annual mileage of approximately 7,400 miles: Typical petrol car: 45 mpg, petrol price 158p per litre, Typical EV: 3.5 miles per kWh, Overnight EV tariff: 7.5p per kWh.
** Monthly cost is based on driving an average of 700 miles per month, achieving 4 miles per kWh and charging your car using EV Optimise at a rate of 8p per kWh.
