Electric vehicles (EVs) are becoming increasingly popular again as more people look for ways to reduce their carbon footprint and save on fuel costs. But while the environmental and long-term financial benefits of driving an EV are clear, the cost of charging your vehicle can vary widely depending on how, when, and where you charge it.
For new EV owners or those considering making the switch, understanding the most affordable ways to keep your vehicle charged is key to maximizing your EV cost savings and the efficiency of your vehicle. In this blog, we’ll explore the various options available to you, so you can find the best ways to keep your EV powered up without breaking the bank.
1. Charging at Home: The Most Cost-Effective Option
Charging your EV at home is typically the cheapest and most convenient option. Here’s why:
- Lower Electricity Rates: Most utility companies offer lower rates for electricity used during off-peak hours (typically at night). By scheduling your EV to charge during these hours, you can significantly reduce your charging costs.
- Avoiding Public Charging Fees: While public charging stations are convenient, they can be more expensive, especially fast chargers. Home charging eliminates these costs altogether.
- One-Time Installation Cost: Although you’ll need to invest in a home charger, this is a one-time cost. Over time, the savings from charging at home compared to public stations can offset this initial expense.
To maximize savings, consider installing a Level 2 home charger. While Level 1 chargers (which use a standard household outlet) are cheaper to install, they charge more slowly. A Level 2 charger requires a 240-volt outlet, similar to what your dryer uses, and can charge your vehicle much faster. This means less time spent charging and more time enjoying your EV.
2. Take Advantage of Off-Peak Charging Rates
As mentioned earlier, electricity rates can vary depending on the time of day. Many utility companies offer time-of-use (TOU) plans that charge less for electricity during off-peak hours, typically from late evening to early morning. By setting your EV to charge during these hours, you can take full advantage of these lower rates.
Most EVs and home chargers come with built-in timers or apps that allow you to schedule your charging sessions. This means you can plug in your car when you get home from work and set it to start charging during off-peak hours, saving you money without any extra effort.
If you’re not already on a TOU plan, it’s worth checking with your utility company to see if one is available. Some companies also offer special EV rates that can further reduce your charging costs.
3. Use Free Public Charging Stations
While home charging is usually the cheapest option, taking advantage of free public charging stations can also help you save, especially if a home installation isn’t possible. These stations are often found at shopping centers, workplaces, and public parking lots. Many businesses offer free charging as an incentive to attract customers or employees.
To find free charging stations, you can use apps like PlugShare or ChargePoint, which show the location of nearby charging stations and whether they’re free to use. While it’s not practical to rely solely on free public charging, it can be a great way to top off your battery when you’re out and about.
Just remember that free stations are usually Level 2 chargers, which charge slower than the fast chargers you’ll find at paid stations. But if you’re planning to spend a few hours shopping or at work, this slower charging speed might not be an issue.
4. Take Advantage of Workplace Charging
If your workplace offers free or low-cost EV charging, this can be a great way to reduce your charging costs. Many employers are beginning to install EV chargers as part of their sustainability initiatives or to attract environmentally conscious employees.
Charging at work means you can arrive home with a fully charged battery, reducing the need to charge overnight. This can be particularly beneficial if your home electricity rates are high or if you don’t have access to a home charger.
Even if your employer charges a small fee for using the workplace chargers, it might still be cheaper than charging at home, especially if you can take advantage of any company discounts or incentives.
5. Public Charging Networks: Choosing the Right Plan
When you do need to use public charging networks, it’s important to choose the right plan. Many networks, like ChargePoint and Charge Hub, offer membership plans that can lower the cost per kWh. These plans often include a monthly fee, but if you regularly use public chargers, the savings on per-kWh rates can make it worth the cost.
Before committing to a plan, consider your driving habits and how often you’ll need to use public chargers. Some plans are designed for occasional users, while others are better suited for frequent travelers who rely heavily on public charging. You should also look for networks that offer discounts for charging during off-peak hours or those that provide free charging credits as part of their membership perks.
6. Maximize Your EV’s Efficiency
Another way to reduce your charging costs is to maximize your EV’s efficiency. The more efficiently your car uses energy, the less frequently you’ll need to charge it. Here are a few tips to get the most out of your EV’s battery:
- Use Eco Mode: Most EVs have an eco mode that optimizes the vehicle’s performance to extend battery life. This mode reduces the power used by the air conditioning, heating, and other features, allowing you to go further on a single charge.
- Maintain Proper Tire Pressure: Under-inflated tires can reduce your EV’s efficiency, causing it to use more energy. Regularly check your tire pressure and keep it at the recommended level to ensure you get the best possible range.
- Plan Your Routes: Using navigation apps to plan the most efficient route can help you avoid unnecessary detours and stop-and-go traffic, both of which can drain your battery faster.
- Regenerative Braking: Many EVs offer regenerative braking, which captures energy that would otherwise be lost when braking and uses it to recharge the battery. Make sure this feature is activated to help extend your range.
By combining efficient driving habits with cost-effective charging strategies, you can minimize your EV’s running costs and make the most of your investment.
Install a Home Charger with ElectricSafe in Hamilton, ON
While there are many ways to save on EV charging, installing a home charger is one of the best investments you can make. Not only does it allow you to take advantage of lower electricity rates, but it also offers the convenience of charging your vehicle overnight without the need to find a public charging station.
If you’re in Hamilton, ON, and considering a home charger installation, ElectricSafe can help. We provide professional installation services, so you can rest assured that the device is set up correctly and safely.
With a home charger, you won’t have to worry about hunting for free charging outlets, and you’ll always have a fully charged vehicle ready to go.
