Both charging on the public network or at home is more expensive this year in comparison to the year before, however driving an EV is still more cost effective than an ICE vehicle.

An electric motor is much simpler that an ICE engine as there are less moving parts. A petrol or diesel engine is complex, requiring many additional components to operate correctly – exhaust systems, starter motors, fuel injection systems, oil, radiators, gears.  Pure electric cars, on the other hand, have just three main components – the on-board charger, inverter and motor – and fewer moving parts than cars with an internal combustion engine. This means there are less things requiring maintenance and servicing is simpler. All of which could significantly save money. Plug-in hybrid electric vehicles (PHEVs) can also be cheaper to maintain than ‘traditional’ petrol or diesel-powered alternatives. Whilst these have a petrol engine that needs regular servicing, the electrical motor requires little maintenance due to far fewer moving parts, which leads to less wear and tear of the petrol engine component.

Although the electricity prices have gone up, charging an EV can still be a better value than filling up a fuel tank. In the past couple of months, the fuel prices have reached new high records. Ever since the Russia’s invasion of Ukraine, the diesel and petrol prices have continually grown, with diesel price reaching a peak of £196.4 pence per litter in June 2022, up by nearly 48% compared to June 2021.

To support the uptake of electric vehicles, the government have also put in place different incentives, for both businesses and individuals. From government grants to no clean air zone or congestion chargers and 2% BIK, you can receive sizable tax benefits if you go green which can also help you save money in the long run.

Home charging

How you charge your EV is important in order to keep your costs as low as you can. In terms of convenience, charging each night at home is simplest. This will likely provide most of the daily driving range the average driver will need – and mean you can effectively start each day with ‘a full tank’. Although the energy prices have gone up, charging your electric vehicle should cost less than filling up a tank if you charge your car from home overnight – you’ll be able to take advantage of off-peak tariffs.

Planning ahead

It’s also very important to plan ahead your day. By doing so, you can combine multiple trips into one and avoid traffic jams and congestions, which will result in less power usage. Also, keep in mind that the cost to charge an electric car in the UK varies between home, work and public charging. For example, rapid chargers are generally more expensive, reflecting the fact that they are more convenient. What you can do is look around for more cost efficient or even free charging networks and plan your route more carefully to avoid paying extra.

The route you choose could also have a dramatic effect on efficiency and range. You notice it more in an electric car than a petrol or diesel car because shorter driving range, and charging every night, are frequent reminders of energy usage. Motorways aren’t always the best choice. As a car’s speed increases, so does the drag. The faster the car moves, the more energy is required to fight through the air, draining your car’s battery more quickly. While driving non motorway routes can result in better range, alternative routes need to be studied. If you encounter a lot of stops and starts, or challenging hills, it might mean less efficiency. So pick a route with gentle gradients, minimal intersections, and light traffic. If you have the opportunity, test remaining range after travelling alternative routes

Don’t forget about maintenance

While EVs need less maintenance than petrol-powered vehicles, poor upkeep can have the same detrimental effect on efficiency. Start with proper tyre inflation. Look up your car’s recommended tyre pressure and check regularly with a gauge to ensure the correct level. A vehicle’s fuel economy goes down by about 1 percent for every 3 pounds of pressure missing from its tyres. Make sure to follow suggested service intervals for your car, and perform regular checks on things like coolant levels. While electric cars don’t have an engine that needs to be kept cool, many use liquid cooling to keep the battery pack, inverter and motor operating at peak efficiency. Insufficient levels of cooling can result in poor performance, overheating components can even damage battery life.