This is the question consumers most often ask when considering their first electric vehicle.
The answer is not simple, as many different factors influence this question. But there are ways you can consider to help you make an initial assessment when you start thinking about the cost of charging an electric vehicle.
The two main things to consider when trying to calculate the actual cost of charging your electric car are:
- Location – Where will you mostly fill up your vehicle?
- Car – Which vehicle will you be refuelling?
If you can answer these questions, you are well on your way to an answer.
Charging costs for some cars
According to publicly available data, the best-selling electric vehicles in Europe in 2023 were:
- Tesla Y
- Tesla 3
- VW ID.4
The top ten cars are the Fiat 500e, Volkswagen ID.3, Skoda Enyaq, Dacia Spring, Peugeot e-208, Hyundai Kona Electric and Kia Niro.
Based on current electricity prices and publicly available data from manufacturers, the cost of charging these cars*:
- Tesla Y – €9.4 (per charge) or €229/year
- Tesla 3 – €9 (per charge) or €214/year
- VW ID.4 – €9.84 (per charge) €222/year
* The annual cost is equal to the average number of km driven per driver in Slovenia divided by the actual range of the car multiplied by the cost of refuelling.
If we compare this with the most popular car in Slovenia, the Skoda Octavia, at a fuel price of €1.49 per litre and an average consumption of 5.7l/100km, the annual fuel cost is €917 – between 4 and 5 times more expensive.
Where will you charge your electric car?
Charging an electric car is different from traditional refuelling. The pump is no longer the only source of fuel. There are usually three places where you can charge your vehicle:
Charging your car at home
As mentioned above, the average cost per charge depends on the vehicle you drive. However, you need to take into account the price of electricity at your charging point.
If you charge from a standard three-phase house supply, the average cost for a full charge is between €7 and €10.
However, there are other factors to consider. Having your own charging station gives you the most flexibility to charge your car when electricity is cheapest.
Depending on your electricity tariff, you could save extra.
Charging your car at work
Some employers provide free refills for their employees. Many employers provide an additional benefit to their employees in this way and encourage them to switch to green technology. That’s why many companies have charging stations where you can charge your car for free or at a much lower price.
What’s better than cheap fuel? Free fuel!
Charging at public charging points
Public charging stations are the most expensive option, but in most cases still cheaper than fuel for internal combustion vehicles. But calculations show that it is much more economical for EV owners to charge their vehicles at home or at work.
Find out more about charging electric vehicles
When considering the true cost of charging a vehicle, there are a number of other factors to take into account, including the equipment you need to charge at home, the additional benefits of going electric and the financial implications for companies that allow their employees to charge their own vehicles.
Each of these factors plays a role in the decision – and given the speed at which electric vehicles are appearing on our roads, sooner rather than later you will be faced with choosing the optimal charging method for your electric vehicle. Need advice – contact us for more information.
