Electric Cars
Electric cars or Electric Vehicles (EVs) are becoming increasingly common on our roads and although they currently cost more to buy and a comprehensive charging network is still being developed, they already offer cheaper running costs and reduced CO₂ emissions.
Virtually all of the major car makers now include electric versions of their models in their range. In addition, several specialist EV manufacturers are introducing new ideas and brands to the market, with Tesla probably the best known. There is a lot of choice, but if you are considering investing in a new car, there are number of issues to note.
Costs
Buying an electric car is typically more expensive than petrol or diesel cars, but prices are dropping rapidly and there is a growing second-hand market for electric cars that offers more affordable prices.
Electric cars are more efficient than petrol or diesel cars, making them cheaper to drive and emitting less CO₂ emissions compared to the equivalent petrol or diesel car. Some energy suppliers are now offering electricity tariffs specifically for electric car owners, so charging your car becomes cheaper. If you charge your car from solar panels on your property then the cost of charging your car can be minimal.
Insurance can currently cost more for electric cars, however this is expected to reduce as they become more common.
Servicing costs are typically lower because electric cars are far simpler than petrol and diesel cars. At present, no vehicle tax is payable on electric cars.
Charging
Having off-road parking on your property with easy access to electricity is the most convenient way of charging an electric car.
Charging times vary significantly depending on the power of the charger Slow car chargers are up to 3kW and typically take more than 12 hours to charge an electric car, depending on the size of the battery. Fast chargers are either 3.6kW, 7kW, 11kW or 22kW and depending on the size of the car battery, can take between 1 and 6 hours to fully charge a battery Most properties in the UK have single phase electricity which limits the car charger to 7kW.
When charging away from the home, you may have seen Rapid Chargers which supply between 43 - 50kW. Although they charge an electric car battery very quickly, they are not normally installed in domestic settings, unless there is access to a 3phase supply.
The Office for Low Emission
Vehicles provide a grant that will pay for 75% of the cost of the charger install, up to £350. 7kW chargers typically cost around £800 to install and with the grant, this would reduce the install cost to £450.
Range
The range of an electric car typically varies from around 130 to 300 miles on a single charge, depending on the car model. This makes them best suited to short trips, but there is an increasing network of car chargers that can enable longer journeys
Battery Life
The battery is the most expensive part of an electric car so can be very costly to replace. They degrade over time as they are charged and discharged, meaning the amount of energy they can store reduces over time
Most manufacturers provide 8 or 10 year warranties for their batteries, which are sometimes separate to the warranty for the car, but batteries typically last between 10 and 20 years This is longer than most people own a car for, so battery lifespan isn’t usually an issue for new cars.
If you’re buying a second-hand electric car, it is important to find out the battery health to make sure there is sufficient life left in it for your needs.
