Unlocking Savings: The Challenge of Home EV Charging Access

Major Savings for EV Owners Charging at Home

A recent study by Cornwall Insight has revealed that electric vehicle (EV) owners who can charge at home enjoy substantial cost savings compared to their petrol-powered counterparts. Under the current energy price cap, the average annual cost for home EV charging is approximately £630, whereas maintaining a petrol vehicle costs drivers around £1,432 per year. For high-mileage drivers, the savings are even more pronounced, reaching up to £1,154 annually.

These figures underline the growing financial appeal of transitioning to electric vehicles, particularly for those with convenient home-charging setups.

Off-Peak Charging: Unlocking Even Greater Savings

Benefits of Overnight Tariffs

The study highlights that EV owners who utilize off-peak electricity tariffs for overnight charging can reduce their annual charging costs to as little as £192. Compared to petrol vehicles, this results in savings of:

• £1,240 for average drivers

• Up to £1,780 for high-mileage users

Despite these opportunities, a surprising 82% of EV owners are not currently taking advantage of cheaper off-peak rates, missing out on significant financial benefits.

The Need for Greater Awareness

Educating EV owners about flexible tariffs and encouraging energy providers to offer accessible off-peak options could play a pivotal role in maximizing the financial and environmental advantages of electric mobility.

The Challenge: Public Charging Costs and Infrastructure Gaps

While home charging presents an attractive option, not all EV owners have the luxury of a private charging point. The report underscores that using public charging stations remains the most expensive method of powering an EV. This disparity creates a major obstacle for those living in apartments, rental properties, or urban areas without dedicated parking.

Addressing Infrastructure Inequality

As the UK moves towards its goal of banning new fossil fuel vehicle sales by 2035, ensuring equitable access to affordable EV charging is critical. Key measures needed include:

• Expanding public charging networks

• Installing more on-street and flat-based charging points

• Offering incentives for landlords to provide EV charging solutions

Without these improvements, many would-be EV adopters could be left behind, slowing the broader transition to a cleaner, greener transport future.

Home charging offers undeniable cost savings for EV owners, but systemic barriers around access must be urgently addressed. Policymakers, energy providers, and developers all have a crucial role to play in closing the gap and ensuring that the benefits of electric vehicles are shared fairly across society.

By strengthening public infrastructure and raising awareness of off-peak tariff benefits, the UK can drive forward a more sustainable and inclusive EV revolution.

Our team at SBS can provide your business, or personal address with EV Charging solutions, contact our team today.