Owning an Electric Vehicle (EV) is an exciting step towards a greener world. Utility companies and private enterprises are rushing to provide charging stations and affordable electric cars to keep up with the growing demand. But how much does it cost to charge an Electric Vehicle?
To help you budget your monthly charging costs, we’ve broken down the figures so you know what to expect.
As the name implies, an electric vehicle (EV) is one that operates on electricity instead of fossil fuels like in a traditional car. The benefits of driving a car that runs solely on electricity are many.
The cost to charge an electric car can vary depending on several factors including where you live, whether you own your charging station, and how many miles your car gets per charge (e.g., city or highway). Many variables affect the final cost, but we can give you a ballpark estimate as well as insights into some ways you can reduce the cost of recharging your EV.
Let’s take a look.
Most Electric Vehicle (EV) owners are concerned about the high initial costs and usually forget about the long-term savings that come from charging their car at home or the workplace.
Did you know: In typical circumstances, it costs 7x less to drive an EV for a month as compared to a traditional car
How much does it cost to charge an Electric Vehicle (EV)?
The best way to calculate this on your own is by dividing your electric bill by the total number of Kilowatts used per hour (kWh). Then take how many kWh your vehicle runs on and multiply that by how much you typically pay in electricity per hour.
Another way to consider how much you will likely pay to charge your EV is by breaking it down by the mathematical statement: The electricity cost per day is equal to the energy consumption, “E”, in kWh per day multiplied by the energy cost of 1 kWh in AED per kWh.
Cost(AED/day) = E(kWh/day) × Cost(AED/kWh)
Where do you live?
The cost to charge an Electric Vehicle (EV) at home is typically lower than at work, as the cost of electricity is much lower here. If you charge at home, you also have to factor in the cost of buying and installing a home charging unit.
While some EVs come with an onboard charger with a cable, most people prefer to have a dedicated home charger so that their car can charge at a much higher speed and is also much safer.
How many km will your Electric Vehicle get per charge?
The amount of electricity you use per km depends on the type of EV you’re charging with. For example, if you’re charging your EV with a Level 1 or Level 2 charging station (typically around 8 hours to 80%), the cost per kWh is around 0.38 AED.
If you want to charge your EV at a public charging station, you’ll have to pay a fixed fee per kWh set by the Utility provider (DEWA, FEWA, ADDC, AADC, etc.) for the electricity you use. Typically, this fee corresponds to around 6.7 AED/hr for AC chargers, depending on the station. If you charge at a DC Fast charger, the cost is usually around 46 AED/Hr at a 150kW unit.
How much electricity is available where you live to charge an Electric Vehicle?
The UAE Power Market is segmented by Power Generation (Natural Gas, Nuclear, and Renewables), and Transmission and Distribution. In areas that have warm summers and cold winters, renewable energy such as solar, wind, and geothermal power is getting cheaper and more accessible.
Electric Vehicle Chargers at Work and Home
When you charge your EV at home, you can often choose from a few different types of charging stations depending on your home’s wiring and available capacity. If you charge at work, most workplaces may have shared charging stations.
Bottom Line
How much charging your EV costs you have various factors. If you want to charge at home or work you can expect to pay 0.38 AED per kWh. If you’d like to charge your EV at public charging stations, you’ll have to pay a fixed fee per kWh as per the tariff set by the Network. If you live in a premium property, the cost of charging can be higher as there will be a premium charged on the parking. As of today, the tariff is regulated by the utility providers in the country and we shall see how the policy moves over the coming months.
If you’re interested in finding out how much it costs to charge your EV, it’s best to talk to our industry experts.
At Regeny, we are a team of specialized EV charging solutions providers. We have a complete range of AC & DC fast chargers connected with a smart Charge point management platform & Mobile App to find chargers on the network.
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