CrowdCharge research shows reduction in EV running costs compared to ICE

• New data from charging technology specialists CrowdCharge has revealed the high savings that EV drivers can reap from both smart charging and V2G tariffs – which reduce the price of home charging, which is already relatively cheaper than petrol or diesel, even further.
• While the average annual cost of charging an EV at home is around £600, compared to the £1,205 average yearly cost for filling up a petrol car, using smart charging can reduce this annual cost to £400.
• CrowdCharge estimates that using V2G charging could reduce this annual cost even further, to £250.

Charging technology set to reduce EV cost of ownership even further

The estimates have been gathered with data from CrowdCharge’s own customers, from both the company fleets which are utilising its smart charging technology, and its home customers who have been trialling a V2G scheme. The latter has only involved Nissan Leaf EVs using the older CHAdeMO DC socket, but CrowdCharge is now running a V2G trial for workplaces which uses the more relevant CCS sockets.

Overall, this displays that EVs on a V2G charging scheme could save up to £1,000 in energy costs compared to a conventional petrol car. That reduction in total cost of ownership will be crucial for encouraging early mainstream EV adoption. An increasing number of manufacturers have signalled their intention to begin supporting V2G on future EVs, while some energy providers already provide such a tariff, which are both promising steps.

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Mike Potter, CEO of CrowdCharge, commented:

“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.”

Buyers might have to see past the initially higher purchase price of an EV right now, but that’s quickly becoming a thing of the past. Vauxhall’s Frontera EV has already achieved price parity, while EVs like the Skoda Elroq and Ford Puma Gen-E have also come close to achieving such a feat.