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“How much does it cost to charge an EV?” might be one of the first questions on your mind if you’re thinking about making the switch to electric.

Fuelling up at the petrol station is second nature for most of us. You’ve done it so many times that you have a solid idea of how much it costs to fill your tank. But charging an EV is new territory. 

The good news is that charging an EV is often cheaper than filling up with petrol or diesel. Switching to an EV comes with many benefits such as lower running costs. 

In this article, we’ll help you calculate the cost of charging your EV at home, in public, or at work so you can stay on top of your budget and keep your EV running smoothly.

What factors affect the cost of EV charging?

Several factors influence how much you’ll pay to charge your EV. This means there isn’t one easy rate for EV charging.

Calculating EV charging costs needs to take into consideration:

• Electricity rates – The cost per kWh varies between EV charging providers and networks, meaning the cost will vary depending on whether you charge at home, in public, or at work. The time of day and type of tariff can also impact the electricity rate.

• Charging speed – Standard home charging units offer a slower charging speed (typically 3–7 kW) and, therefore, tend to be cheaper per unit. Rapid (75 kW+) and Ultra-rapid (150 kW+) chargers often have a higher price per kWh to accommodate the faster charging speed.

• Battery size and charge level – The amount of energy required to charge your EV depends on your battery capacity and the starting charge level.

• Time of use tariffs – Some charging providers offer cheaper rates for off-peak charging at night, which might help reduce costs.

The simple formula to calculate EV charging costs:

Battery size (kWh) x Electricity rate (£/kWh) = Charging cost

How to calculate EV charging costs at home

Charging at home is a cost-effective way to power your EV. Most drivers with a home charging point will charge their electric vehicle overnight so they can wake up to a full battery in the morning.

The cost of EV charging at home will depend on your electricity provider. If you’re thinking about getting an EV, we recommend researching what EV tariffs different electricity providers offer. You might find your current provider offers a great rate or you may decide you’re better off moving to a new provider.

The average domestic electricity rate in the UK is currently around 24.86 pence per kWh. Some electricity providers will offer a much lower rate for charging during off-peak hours. 

Based on a car with a 60 kWh capacity battery, the average cost to fully charge your EV at home might be around £15.

How to calculate EV charging costs in public

Public EV charging rates vary depending on the charging provider and speed. Many public EV charging providers will charge you more to use a rapid or ultra-rapid charging station. At evyve, we stick to one simple rate.

It’s worth noting most drivers just do small top-up charges at rapid charging stations rather than going from 0% to 100% in one go. They’ll more likely do incremental top-ups to between 20% to 80% to keep their EV suitably charged.

If you need to charge your 60 kWh EV from 20% to 80%, you’d use 36kWH which would cost approximately £27. This is based on the calculation of 36 kWH x £0.75 cost per kWh.

As a general rule, we recommend only charging your EV to 80% capacity. The fuller your battery is, the slower it charges, making it less efficient and costing you more in time. Stopping at 80% also helps extend your battery lifespan.

Workplace and free EV charging options

Some businesses offer free workplace charging as a perk for employees. If your employer offers this, it can dramatically lower your EV running costs. You could use your workplace charging station to fully charge your car during the workday, then use nearby public charging stations to keep it topped up in between charges.

Free workplace charging can be a smart way to dramatically lower your EV running costs.

You might also find some supermarkets or hotels offer free or discounted EV charging to attract visitors. Taking advantage of these can be another way to keep costs down while you’re out and about.

Tips to save on EV charging costs

Make the most of your EV and keep costs down by finding a smart but easy charging strategy that works for you. This might look like:

• Charging your car at work to maximise on their free charging offer

• Use our EV charging station map to find reliable and competitively priced charging locations

• Plan charging stops in advance to avoid unexpected last-minute charges

• Only charge up to 80% to save time and money, and prolong battery health

Smart planning for cheaper charging

Knowing how to calculate your EV charging costs can help you make smarter decisions and when and where to charge. Whether you’re charging at home, at work, or on the road, a little planning goes a long way in saving money.

Find your nearest evyve charging point for easy, rapid charging you can rely on.