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More and more drivers are choosing to install an electric car charger at home. The convenience of charging the vehicle overnight is one of the main reasons. However, the financial savings are also a very important factor.
Although the price of electricity can vary, charging an electric car at home is usually much cheaper than doing so at public charging points and, of course, than using a combustion vehicle. In the medium term, this difference can amount to several thousand euros in savings.
That said, the actual amount will depend on different factors, such as how the vehicle is used, the electricity tariff contracted, or the cost of installing the charger. Analyzing all these aspects makes it possible to determine fairly accurately when the investment pays for itself and how much money can be saved over a five-year period.
There is no single savings figure for all drivers. Each case is different and depends on variables that should be analyzed before carrying out the installation.
The first factor is the number of kilometers driven per year. The more the vehicle is used, the greater the savings from charging at home compared to other alternatives.
The electric car’s consumption also has an impact. More efficient models need less energy to cover the same distance, further reducing the cost per kilometer.
Another important aspect is the electricity tariff. Taking advantage of lower-price periods, especially at night, makes it possible to significantly reduce the cost of each charge.
Finally, the price of the charger itself and its installation must be taken into account. Although it involves an initial investment, it is usually paid off within a few years thanks to the accumulated savings on each charge.
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The difference in costs is one of the strongest arguments for installing a home charger.
When charging the car at home using a time-of-use tariff, the price per 100 kilometers is usually considerably lower than that of a fast public charge. These stations offer great convenience for long trips, but their price per kWh is usually much higher.
The difference is even greater when compared with a gasoline or diesel vehicle. The rise in fuel prices in recent years has widened the economic gap between the two technologies.
In addition, having a home charger avoids trips to public stations and eliminates the uncertainty of finding an available charging point, also providing time savings which, although not always reflected in figures, have significant value for many users.
Calculating the approximate savings is simpler than it may seem. You only need to know some basic information about the vehicle and how it is used.
The first step is to know the car’s average consumption, normally expressed in kWh per 100 kilometers.
Then, you simply multiply it by the number of kilometers driven per year to calculate the annual electricity consumption. For example, a vehicle that consumes 16 kWh/100 km and travels 18,000 kilometers per year will need approximately 2,880 kWh annually.
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The next step is to apply the average price per kWh according to the contracted tariff.
Users who concentrate most of their charging during off-peak hours usually obtain an especially low cost per kilometer.
This is where a smart charger makes the difference. Thanks to schedule programming and control from the WOLTIO mobile app, it is possible to automate charging sessions to always take advantage of the most economical periods without the need for manual intervention.
The initial investment depends mainly on the type of existing electrical installation, the distance to the parking space, and the charger model chosen.
Although this outlay must be included in the calculation, it is usually paid off quickly when the vehicle covers a high number of kilometers per year.
Once the investment has been recovered, practically all the savings generated by home charging become net savings for the owner.
The answer depends on how you use the vehicle, but in most situations the installation is profitable in the medium term. Remember that at WOLTIO we can help you find out whether your home electrical installation can support an electric car charger.
If you use the car practically every day, make frequent trips, or drive several thousand kilometers per year, the accumulated savings over five years can be very significant.
In addition to the economic aspect, it is also worth considering other benefits. Being able to charge the vehicle comfortably at home, avoiding waits at public stations, and having greater control over energy consumption make the electric car ownership experience much more convenient.
WOLTIO smart chargers offer precisely that combination of savings, convenience, and control. Thanks to their universal compatibility with Type 2 connector vehicles and the monitoring and scheduling features available from the WOLTIO app, it is possible to optimize every charge and get the most out of the investment throughout the vehicle’s service life.
Calculating the savings over five years shows that installing a home charger not only improves day-to-day convenience, but can also become a very financially profitable decision for most owners of electric vehicles and plug-in hybrids.
Choose your model from our full range of home electric car chargers.
