Is an Electric Vehicle Cheaper than a Conventional Car on Fuel and Maintenance?

Electric vehicles (EVs) have been a hot topic in the automotive industry, and many are curious about their long-term cost benefits compared to traditional Internal Combustion Engine (ICE) vehicles. From fuel savings to maintenance, several factors come into play. In this article, we'll explore whether an EV is less expensive than a conventional car on fuel and maintenance.

Charging at Home: A Cost-Effective Solution

One of the biggest advantages of an EV is the ability to charge at home. For instance, if you often work from home, you can benefit from a trickle charger that plugs directly into your house electrics. My trickle charger operates at 2kW and can charge my 60kWh battery overnight, filling it with around 24kWh. A faster home charger, capable of 7kW, can charge 84kWh in one night. I have a cost-effective electric tariff that charges at 8p/kWh between 00:30 and 04:30, making it cheaper during off-peak hours. During peak times, the rate is 30p/kWh, which is significantly higher.

Fuel and Efficiency

Let's break down the cost of fuel for both types of vehicles. My Nissan Leaf, for example, has a winter efficiency of 3 miles per kWh and 4 miles per kWh in summer. If I drive 6000 miles a year, my Nissan Leaf would use:

33kWh (6000 miles / 18.75 miles per kWh) * 8p/kWh ￡2.64 per week, or 2.64 pence per mile.

Compare this with a conventional car, like the one I previously drove, which had a fuel efficiency of 20 miles per gallon. If I drove 6000 miles a year, my fuel costs would be:

300 gallons (6000 miles / 20 miles per gallon) * 4.60 per gallon ￡1380 per year.

Based on these calculations, I save about ￡3000 annually over my previous ICE vehicle. The savings come from using cheap electricity for charging at home, no servicing, and currently no road tax.

Maintenance Costs

Maintaining an EV is significantly less expensive than a conventional car. An EV has fewer moving parts, which means fewer opportunities for mechanical failure. Servicing intervals are also longer, reducing the overall maintenance cost.

I can also drive where my previous ICE vehicle was banned due to its exhaust emissions. With an EV, there are no exhaust emissions, making it a clean and efficient choice.

Comparative Savings Over Time

Let's compare the costs over a 7-year period. If you drive 12,000 miles a year:

Gas: 600 gallons * 4.60 per gallon ￡2760 per year. Electricity: 12000 miles / 3.8 miles per 1 kWh 3158 kWh * 15 cents per kWh 473.70 cents or ￡4.73 per mile. Total per year for gas: 2760 100 (assuming a 100 kWh cost for occasional travel) ￡2860. Electricity cost per year for electric vehicle: 12000 miles / 3.8 miles per 1 kWh 3158 kWh * 15 cents per kWh 473.70.

If you keep your car for 7 years:

Total gas cost over 7 years: 2860 * 7 ￡19,980. Total electricity cost over 7 years: 473.70 * 7 ￡3315.90.

Therefore, an EV would cost approximately 16,664.10 pounds over 7 years, while a gas car would cost 25,998 pounds.

Conclusion

Based on these calculations, an electric vehicle is indeed less expensive than a conventional car on fuel and maintenance costs. To maximize the cost savings, it is crucial to charge your EV at home, where you can take advantage of cheaper off-peak rates. Governments and policymakers can further support the shift to electric vehicles by making cheap rate overnight charging ubiquitous.