THE electric vehicle (EV) revolution is accelerating, and new data from CrowdCharge reveals the stark reality of EV running cost savings compared to traditional petrol vehicles.
While the average home charging cost for an EV is already roughly half that of fueling a petrol car (£1,205 per year), the latest figures demonstrate that utilising smart charging technology can further slash these costs to a mere £400 annually.
But the savings don’t stop there. Vehicle-to-grid (V2G) charging, a technology that allows EVs to not only draw power from the grid but also feed it back, has the potential to reduce annual EV charging costs to an astonishing £250, or even less.
“The cost savings are undeniable,” says Mike Potter, CEO of CrowdCharge. “EVs may have a higher upfront purchase price, but when you factor in the dramatically lower fuel costs, the economic argument against EVs simply disappears.”
Smart charging and V2G: a winning combination for fleets
These findings have significant implications for businesses transitioning their fleets to EVs. According to CrowdCharge, its smart charging technology, which optimises charging times to leverage the lowest cost electricity, has already delivered substantial savings for fleet customers.
“We’re seeing annual cost savings of around £200 compared to normal EV charging, along with emission reductions of up to 63%,” says Potter. “This is a game-changer for companies committed to both their bottom line and environmental sustainability.”
The company’s V2G trials have yielded even more impressive results, with home-based users charging their EVs for as little as £250 per year. When combined with home renewable energy sources like solar power, some users are even charging their vehicles for free.
Addressing the ZEV mandate debate
These figures come at a crucial time as the UK grapples with the implementation of the Zero Emission Vehicle (ZEV) mandate and seeks to accelerate EV adoption. Concerns about the higher purchase price of EVs are often cited as a barrier to entry. However, the data clearly demonstrates that when whole-life running costs are considered, EVs emerge as the more economical choice.
“The current debate around the ZEV mandate often overlooks the substantial long-term cost benefits of EVs,” says Potter. “Our data provides compelling evidence that EVs are not only a greener choice but also a financially sound investment.”
AI-powered solutions for a sustainable future
CrowdCharge’s AI-driven technology not only optimises charging costs but also minimises carbon emissions. The company’s intelligent software analyses real-world EV charging emissions and adjusts charging strategies accordingly, resulting in significant carbon reductions.
“Our AI-powered platform ensures that electric vehicles achieve the lowest possible carbon footprint,” adds Americo Lenza, COO of CrowdCharge. “This translates to significant cost savings and a major step towards a net-zero future.”
With its innovative technology and commitment to sustainability, CrowdCharge is positioned as a key player in the rapidly evolving EV landscape. The company’s ongoing V2G trials, in partnership with DriveElectric, are paving the way for a more affordable and accessible EV charging infrastructure.
