How much does it cost to fully charge an electric car at home?
Energy prices in the UK have been at the forefront of discussion and of people’s minds since 2020 when we first saw the rise. More people are now adopting EVs and therefore, more people are looking at the most accessible and affordable charging solutions - which is where home charging comes into the picture. This blog explains how energy pricing works in the UK whilst giving you all the information you need to understand how home charging works.
Electricity prices in the UK
The energy price cap in the UK is set by Ofgem, the body that regulates energy suppliers in the UK, and it limits the amount a supplier can charge for their default tariff.
It is set to £1,923 from October 1st to December 31st 2023. This is a reduction from the previous level which was from July to September £1,976. This figure is based on a household that uses 12,000kWh of gas and 2,900kWh for electricity annually. So, the actual amount you pay will depend on the amount of electricity you use. The price cap is expected to increase to around £2,000 for the whole of 2024.
The current cost of 1kWh of energy is 27p per kWh, but this can fluctuate depending on what region of the UK you are in.
Energy prices surged as we moved into the latter half of 2022. However, due to a relatively mild winter in the UK and most parts of Europe, along with the diligent energy conservation measures adopted by households and businesses concerned about soaring energy costs, demand dwindled, resulting in a decline in prices throughout 2023.
The energy market has stabilised since Russia invaded Ukraine, the closure of Nord Stream 1, and various infrastructure challenges, which led to a sharp rise in prices. The situation improved as European nations reduced their dependence on Russian gas by replenishing storage facilities with natural gas sourced globally.
Despite a natural decline in demand during the spring and summer, prices continued to decrease; however, they remain approximately twice as high as they were at the beginning of 2021. Wholesale prices persist above pre-pandemic levels, and analysts suggest that prices may not revert to pre-pandemic norms within this decade.
Government electricity incentives for EVs in the UK
There are several government grants that have been set up to make electric cars more accessible and more affordable in the UK.
The Electric Vehicle Chargepoint grant
Otherwise known as the Electric car home charge scheme. You can get either £350 or 75% off the cost to buy and install a home charge socket, whichever amount is lower. You plug in your car when your day is done, charge it at home, and wake up with a fully charged battery in the morning.
There are several things you need to have to quality for this scheme: you must own the property, be the vehicle's primary owner and have dedicated off-street parking at your property.
As of April 2023, this grant has helped install 2,347 charging points since the program started in April 2022. Prior programs, like the Electric Vehicle Home Scheme and the Domestic Recharge Scheme, have provided 380,108 home charging units since 2013.
You can read more about government incentives in our blog: Your Guide to Electric Car Government Grants.
So, how much does it cost to charge an electric car at home?
We have compiled three different-sized cars with different-sized batteries to show you how much it would cost to charge your electric car at home. The three cars are Mini Cooper Electric, BYD Dolphin and the Hyundai Ioniq 6 electric saloon.
| Car Make & Model | Battery Size (kWh) | Range (Miles) | Fully Charge Cost |
|---|---|---|---|
| Mini Cooper Electric | 33 | 143 | £8.91 |
| BYD Dolphin Hatchback | 60 | 265 | £16.51 |
| Hyundai Ioniq 6 | 77 | 323 | £20.79 |
Charging your electric vehicle (EV) at home proves to be the most cost-effective method. This is because public charging stations either use rapid or ultra-rapid chargers, consuming higher amounts of electricity to charge your car at a quicker rate.
Fast chargers (7-22kW) are the most common home chargers and can charge a car in around 3-4 hours, depending on the battery size and current state of charge. Whereas DC rapid chargers, rated at 50kW can charge an EV from empty to 80% in less than an hour. Most network rapid chargers cost 74p/kWh which is about £19 for 30 minutes of charging (as of May 2023).
You can read more about the different types of EV charging options here.
Charging your EV at home with The Electric Car Scheme
At The Electric Car Scheme, we aim to simplify the electric car experience, so it’s easy to add everything you need into one bundle. You can get full tax savings on maintenance, breakdown cover, comprehensive car insurance as well and a home charge point. To do so, we have partnered with Smart HomeCharge, the leading independent retailer and installer for EV chargers. Smart Home Charge will ensure your electric car home charging journey is a smooth one.
After reviewing the market, we recommend ‘The Easee One’, a user-friendly and intelligently crafted charging point, that arrives "untethered," allowing connection with any electric car charging cable. Its sleek and uncomplicated design encompasses all the necessary features, making it our top choice for your vehicle.
Our Head of Growth, Gaurav, shares his experience charging the Tesla Model 3 Performance
“In the past 6 months, I've driven my Tesla Model 3 Performance almost 14,000 miles. During this time, I used 4,393 kilowatt-hours (kWh) of electricity, which cost me £806. I mainly charged my car at home using a smart electric vehicle (EV) tariff, but I also used some superchargers. According to my Tesla app, I saved £1,440 in fuel costs because I didn't need to buy petrol. The app calculates this savings based on average monthly petrol prices, and it's pretty accurate. One great thing about driving an electric car is that I never had to worry about going to a petrol station or dealing with the cost of fuel.
My typical trips involve commuting between my home in Warwickshire and our office in Hayes, West London, which is a 200-mile round trip. My Tesla can handle this distance on just one battery charge, even when I'm driving at decent motorway speeds! And when I return home, I still have some battery power left. To make it even more cost-effective, I carpool with my colleague, Cameron, which saves us both money on our daily commute.
EVs are excellent for long commutes. Some people think hybrid cars might be better, especially in cold weather, but the Tesla handles the winter just fine. We can comfortably use heated seats and heating without worrying about running out of battery.”
Frequently asked questions about charging your car at home
Home charging can be a confusing topic because it is a relatively new concept - we wanted to compile some frequently asked questions so you can have all the answers you need in one place.
How much does it cost to install an EV charger at home?
According to Boxt, an electric car charger has an installation cost of around £800 to £1,000, and you can expect to pay around £1,145 for a smart car charger.
At The Electric Car Scheme, you can include a new charge point as part of your salary sacrifice package. This allows you to pay for it out of your gross salary and enjoy full tax savings on the charger too, which can typically save between £300-£600!
What is the best time to charge my car at home?
Generally, it makes sense to charge your EV overnight because many utility companies offer lower rates for night-time electricity usage but also because there is less energy demand. Another perk to this is that charging efficiency increases overnight because as the temperature drops, your EV battery’s capacity increases.
Does charging your car at home increase your energy bill?
Yes, charging an EV at home will increase your electricity bill. According to EDF Energy, ‘on a standard tariff of around 28p/kWh, buying an extra 2,000kWh of electricity could mean you pay around £560 extra a year, or an increase to your monthly payment of around £47 per month.’
Is it worth getting a home charger installed?
Yes, it is worth getting a home charger installed (and we’re not just saying that because we’re slightly biased). Public charge points can be notably more expensive compared to home charging and having your own charger offers immense convenience.
Having a home charger will also add value to your house, because as EV adoption increases so will homes with chargers. Of 1,000 houses, 76% of UK homes with an EV charger showed an increase in value, when compared to the local average.
To find out more about The Electric Car Scheme’s all-inclusive bundle, visit our page about home charging. Or if you don’t have The Electric Car Scheme at your company and want to learn more about how it works, visit this page here.
Last reviewed: 27/11/2023
Next review scheduled: 01/03/2024
Our pricing is based on data collected from The Electric Car Scheme quote tool. All final pricing is inclusive of VAT. All prices above are based on the following lease terms; 10,000 miles pa, 36 months, and are inclusive of Maintenance and Breakdown Cover. The Electric Car Scheme’s terms and conditions apply. All deals are subject to credit approval and availability. All deals are subject to excess mileage and damage charges. Prices are calculated based on the following tax saving assumptions; England & Wales, 40% tax rate. The above prices were calculated using a flat payment profile. The Electric Car Scheme Limited provides services for the administration of your salary sacrifice employee benefits. The Electric Car Scheme Holdings Limited is a member of the BVRLA (10608), is authorised and regulated by the FCA under FRN 968270, is an Appointed Representative of Marshall Management Services Ltd under FRN 667174, and is a credit broker and not a lender or insurance provider.
