How much does it cost to charge an electric vehicle at home?

How much does it cost to charge an EV at home?

The self-sufficient future of electrified personal travel is here in the form of home electric vehicle (EV) charging, and with it are a whole host of questions. One of the most poignant of these questions is of course: ‘what’s it going to cost?’

It’s not just the ‘sticker’ price of a home EV charger that matters, but the ongoing expenses to ensure your EV is charged and ever-ready to hit the road - be it to whisk you away on your next adventure, or simply help you pop to the shops.

Fortunately, we’re here to break down everything you need to know about the cost of home EV charging with Cord. So, let’s get started!

Is it expensive to charge an EV at home?

The cost of charging your electric vehicle at home will be dependent on a few different things. Your vehicle, the size of its battery, and your energy provider will all have their say on the cost, and the way you drive can impact your range.

The additional electricity usage to charge your EV will mean your energy bills are likely to rise. However, in the pricey world of motor vehicles, home EV charging is a comparably cheap option for fueling your vehicle - coming in as a clear winner on the cost-per-mile front.

Want to find out what it would cost to charge your EV at home? Try out our handy vehicle lookup tool here.

Home charging vs. public charging stations: which costs more?

Charging at public charging stations can be notably more expensive than home charging. In fact, The Energy Saving Trust states that public charging costs could potentially be more than double that of home charging - with public charging costing an average of £1,297.78 per 10,000 miles, compared to home charging at £523.18. So, as the miles pass beneath your home-charged EV, you’ll be glad to know that each one is cheaper than its publicly-charged counterpart.

However, the savings don’t stop there. Cord EV chargers are designed to automatically draw power at the cheapest possible times. With overnight charging, we’re redefining the power nap to help you save on your energy bill. That’s because during this time, demand on the energy grid is at its lowest, and so energy is at its cheapest. That means those with access to off peak energy tariffs can automatically enjoy the benefits of significantly cheaper charging whilst they sleep.

Simply pull up, plug in, relax, and let Cord manage the rest.

Total Cost of Ownership (TCO)

If you are an existing owner, or considering becoming an owner of an electric vehicle, you’ll know that the upfront cost of these cars tends to be higher than those of ICE (internal combustion engine) vehicles. With that said, cars are a long-term investment, and so it’s important to look ahead to the future to find where you’ll truly earn the most bang for your buck. 

As previously stated, the cost of fueling an EV is far lower than an ICE, saving you hundreds of pounds each year. However, there are a number of other factors that can help drive a more favourable TCO for electric vehicles. According to research by the Nickel Institute, government incentives, slower depreciation, and lower maintenance costs can all contribute to long term savings, and an overall lower total cost of ownership for EVs.

How much is installation?

Our flagship product package is available at £999, which includes far more than just a charger. We also include installation of the unit by one of our trusted installers. We also offer Klarna and Clearpay options so that you can choose between either upfront or monthly payments.

It’s worth noting that prices can vary based on your property, and - whilst most installations are standard - some properties will require a bespoke installation to meet electricity regulations. We are committed to being transparent with this process, avoiding any unexpected surprises.

Oh, and did you know that you could save an additional £350 on your Cord charger?

That’s right! With the OZEV grant - also known as the EV charge point grant - the government is helping us on our mission to bring affordable EV charging to homes all over the UK. If you own or rent a flat, you could be entitled to this substantial saving and be on the road to home charging even quicker.

Find out whether you could be eligible for the grant here.

What EV charger can I have installed at home?

Our flagship charger is wall-mounted, discreetly fitting into your home environment without becoming an obstacle. Our tethered design negates the need to grapple with cables each time you wish to charge, as it’s neatly built into the wall-mounted unit. With various cable lengths to choose from to further ensure a tidy driveway, the only thing you might have to worry about is envious neighbours!

So, is charging at home a wallet-friendly choice? The answer is a resounding yes! Whether you’re making the switch from petrol or diesel, or looking to bring electric charging to your doorstep, Cord is here to make home EV charging affordable for you.

Interested in how Cord can make home EV charging a reality for you? Get in touch with one of our friendly team members here.