New data from smart charging company CrowdCharge has revealed electric vehicles (EV) provide significant running cost savings over their petrol counterparts.
The statistics show that the average cost of charging an EV at home is around half of the roughly £1,205 drivers of petrol cars spend to refuel annually. CrowdCharge also notes that those who use smart charging devices and tariffs can cut their average EV charging costs to as low as £400, and those able to take advantage of emerging vehicle-to-grid (V2G) charging services could spend as little as £250 each year. These figures are broadly in line with an analysis released in September by energy market analyst Cornwall Insight, which found that EV owners could save as much as 70% on charging costs by exporting energy through V2G systems.
The figures come from CrowdCharge’s fleet customers using smart charging technology as well as CrowdCharge’s V2G customers. The company is one of several leading the charge on the expansion of V2G technology; CrowdCharge, DriveElectric, GridBeyond, JLR, Oxfordshire County Council and not-for-profit Community Interest Company (CIC) Electric Corby are currently involved in a project funded by the Department for Energy Security and Net Zero (DESNZ) that seeks to reduce the cost of V2G charging.
CrowdCharge also notes that the emissions savings from EV charging compared to driving fossil fuel powered vehicles are significant; average emissions when charging an EV at home are 63% lower than refuelling a petrol car, with the use of AI-powered smart charging services like those developed by CrowdCharge able to cut emissions by a further 25%.
Mike Potter, CEO of CrowdCharge, said: “The current debate about the zero-emission vehicle mandate and electric car sales figures has resulted in a focus on what incentives should be offered to encourage people to buy EVs. EVs may be perceived to be more expensive than petrol cars based on their initial purchase price, but when you factor in the fuel price for EVs being either very low or potentially zero, the argument against EVs based on cost evaporates.”
Smart charging and specialised EV charging energy tariffs have become increasingly popular in tandem with the rise of EV sales. Last month, energy software firm Kaluza joined forces with Volvo and OVO Energy, allowing Volvo electric vehicle (EV) drivers to automatically charge their EVs as cheaply as possible through OVO Energy’s Charge Anytime tariff, which automatically charges a customer’s vehicle when energy is at its cheapest and greenest.
