The real cost of charging your electric vehicle at home

For our calculations, we assume you can charge your EV at home using an approved charging station. We also assume most trips are made without using public fast chargers, which are more expensive than home charging. Statistics on driving patterns, commuting distances, and annual mileage show that most drivers rarely need to fast-charge, although exceptions exist.

One challenge in comparing EVs and petrol cars is the difference in performance and price. If you were to match horsepower and acceleration, the cost of an equivalent petrol-powered vehicle would often be very high. We have selected car models that represent a good mix of performance and price, providing a balanced comparison.

This article compares the costs of charging a Polestar 2 Long Range Dual Motor at home with the costs of refuelling a Volkswagen Golf 2.0 TSI 190hk 4Motion.

Electricity prices vary significantly based on the time of day, season, and other factors. For a realistic scenario, we have categorised the price into three segments:

• Low price: 42.2 øre per kWh – typically at night or during low demand.
• Average price: 136 øre per kWh – the yearly average.
• High price: 162 øre per kWh – during high demand, such as cold winter days.

Petrol prices are influenced by crude oil prices, refining costs, taxes, and market demand. We have categorised petrol prices as follows:

• Low price: 20 NOK per litre – a rare but possible low.
• Average price: 22.44 NOK per litre – the yearly average.
• High price: 25 NOK per litre – during high demand or increased crude oil prices.

Charging costs: Polestar 2 (17 kWh per 100 km)

• Low price: Cost per 100 km: 17 kWh × 0,422 NOK/kWh = 7,17 NOK
• Average price: Cost per 100 km: 17 kWh × 1,36 NOK/kWh = 23,12 NOK
• High price: Cost per 100 km: 17 kWh × 1,62 NOK/kWh = 27,54 NOK

Fuel costs: Volkswagen Golf (7,4 litres per 100 km)

• Low price: Cost per 100 km: 7,4 litre × 20 NOK/litre = 148 NOK
• Average price: Cost per 100 km: 7,4 litre × 22,44 NOK/litre = 166,05 NOK
• High price: Cost per 100 km: 7,4 litre × 25 NOK/litre = 185 NOK

What does the calculation look like if the car owner drives 12,000 km per year?

Polestar 2

• Low price: Annual cost: 860,88 NOK
• Average price: Annual cost: 2 774,40 NOK
• High price: Annual cost: 3 304,80 NOK

Volkswagen Golf

• Low price: Annual cost: 17 760 NOK
• Average price: Annual cost: 19 926,72 NOK
• High price: Annual cost: 22 200 NOK

Driving an electric car can save you a significant amount of money compared to a petrol car. To illustrate, let's consider two scenarios:

1. Maximum savings: Low electricity price (860.88 NOK annually) and high petrol price (22,200 NOK annually).
   • Savings: 22,200 NOK - 860.88 NOK = 21,339.12 NOK per year.
2. Minimum savings: High electricity price (3,304.80 NOK annually) and low petrol price (17,760 NOK annually).
   • Savings: 17,760 NOK - 3,304.80 NOK = 14,455.20 NOK per year
     

Based on these scenarios, savings range from approximately 14,500 NOK to 21,300 NOK per year. This variation depends on the fluctuations in electricity and petrol prices. The actual savings could be higher or lower depending on these price changes, but this provides a general overview.

An additional aspect of charging your EV at home that should not be overlooked is the ability to use smart charging. At Zaptec, we call it Eco Mode. With Eco Mode, you can take advantage of the lowest electricity prices by charging your EV exactly when it is most cost-effective. This clever system, integrated into all Zaptec Go installations, adjusts the charging time based on the upcoming 24-hour spot prices from Nord Pool, ensuring that the car charges during the cheapest hours. Eco Mode is not only smart economically; it also contributes to more sustainable energy consumption by using electricity when the grid has the lowest load.