How does having an electric car affect your electricity bills?
Many New Zealanders are already driving electric vehicles, and many more are looking to make the switch the next time they get a new car.
One of the most common questions that comes with an electric vehicle is just how it might affect your electricity bills, since you’ll be charging a car at home most of the time.
It’s a reasonable question, so let’s take a closer look at what effects an electric car can have on your power bill.
Today, we can already glimpse the future. Smart metre installation is a good place to start for increasingly connected houses. The increased connection allows us to manage more services in our houses as well as monitor energy consumption, allowing us to become more environmentally responsible customers.
Do electric cars increase your home electricity bills?
The truth is that yes, an electric car will increase your home electricity bills. Since you’ll be charging an entire vehicle most nights, you will quickly see a difference in your energy bill at home.
However, it’s important to put these costs into perspective.
Average costs to charge your electric vehicle
The average cost of charging your electric vehicle is much, much lower than paying for petrol at the pump.
According to Drive Electric, average driving habits would typically mean you pay approximately $1 every night as you recharge your vehicle. That’s about $30 extra per month, although it will be higher if you drive more than 30 kilometres per day, or have a less efficient electric vehicle model.
Drive Electric further puts things in perspective by comparing the cost of an EV to the cost of petrol. If you drive an average of 25-30 kilometres per day (this is standard for Kiwis), your cost of charging is equivalent to paying about 30 cents per litre of petrol. When regular petrol is over $2.50 per litre these days, that’s a significant saving to your wallet every month.
Overall, it is expected that electric vehicle owners will save approximately $2,000 per year on petrol (or more if you drive a lot).
Pros and cons of an electric car
There are several pros and cons of driving an electric car to be aware of before making the purchase.
The first and most obvious ‘con’ is the initial cost. Electric vehicles – even smaller models – are more expensive to buy than their petrol and diesel counterparts. Second hand models start at roughly $10,000 – $20,000 and only get more expensive from there if you buy new, but when you keep in mind how much you save on petrol, it’s a car that will start paying itself off very quickly (big pro).
Aside from saving on fuel, a huge drawcard of an electric vehicle is how eco-friendly it is. With zero emissions, it’s a wonderful way to be kinder to the environment and reduce your personal carbon footprint.
Another big benefit that you might not expect is the cost of maintenance. The engine of an electric vehicle is very different, with only 10% of the moving parts of a combustion engine. That means no oil changes, spark plugs, fuel filters, or catalytic converters to worry about. Over the lifetime of a vehicle, electric owners can stand to save big on parts and maintenance.
Keep in mind, EV batteries do need replacing eventually, but they do often last for over 300,000 kilometres, so this is not something you will need to worry about for a very long time.
Installing an EV charger
When you buy an electric vehicle, you might notice that the standard power outlets at your home or business only supply slow charging. The good news is that it’s fairly easy to install an outlet (or a network of charging stations) with the help of a professional.
To learn more about our cost-effective charging solutions, get in touch to find the best EV charger for your home or business.