With the rise in popularity of electric vehicles (EVs) in British Columbia, many homeowners are considering the impact of charging an EV on their monthly electricity bills.
While EVs offer savings in terms of fuel costs, plugging in your vehicle nightly is still bound to impact one’s monthly electrical bill. The question is, by just how much? Understanding how charging EVs affects power usage, including the multiple factors that influence the exact number on the bill, can be helpful for budgeting and providing insights into cost-saving measures.
In this blog article, we will break down common factors that can determine the cost of charging an electric vehicle in BC, such as the type of charger, time of day and even region of Canada. Spoiler alert! Although charging electric vehicles will ultimately have some impact on household energy costs, it’s still significantly more cost-effective than an “oil/gas powered” vehicle. Plus, electric vehicles are a great transportation option that builds up a greener and cleaner future for Canada and generations to come.
How Charging Affects Your Bill
The main contributing factor to increased electricity usage for EV owners is charging one’s vehicle at home compared to using public charging stations. The cost of charging an EV depends on several factors, including the type of charger you use (Level 1 or Level 2), the amount you drive, and when in the day you charge your vehicle.
– Level 1 chargers use a standard 120V household outlet, making them the easiest and most affordable to install. However, they are significantly slower, typically only adding 8-10 km of range per hour of charging. This means it can take 20-40 hours to fully charge an electric vehicle, depending on the battery size. Installation costs for Level 1 chargers are minimal since they only require an existing outlet, making them virtually free to set up (BC Hydro Electric Vehicles).
– Level 2 chargers charge faster and can add 25-50 km of range per hour, cutting the time down to around 4-8 hours for a full charge. However, they require a dedicated 240V circuit, which can increase installation costs. The upfront cost for the charger itself ranges from $500 to $1,500, and installation by a licensed electrician can add another $500 to $2,000, depending on the complexity of the installation (BC Hydro Electric Vehicles).
According to BC Hydro, charging an EV at home typically adds around $30 to $60 per month to your electricity bill. Compared to the average $200 British Columbians spend on gas per month, not only are EVs building up a greener and cleaner future, but they also can be a more cost-effective solution. EV owners in BC only have to spend $1 to $3 per 100 kilometres driven – talk about a cheap road trip!
Time-of-Day Pricing: A Cost-Saving Strategy
Did you know BC Hydro offers time-of-day pricing for EV owners looking to save money on their electricity bills? This pricing plan allows customers to take advantage of lower rates during off-peak hours, such as overnight.
By charging your vehicle between 11 p.m. and 7 a.m., you can save around 5 cents per kilowatt-hour (kWh) on electricity, potentially totalling $100 to $200 in savings per year, depending on your driving habits and charging frequency. Charging during these times can significantly reduce your costs while helping to balance the grid’s electricity demand during peak hours.
The Benefit of BC’s Clean Energy
One of the advantages of owning an EV in BC is the province’s clean energy mix. Nearly 98% of BC’s electricity comes from renewable sources, such as hydroelectric power. This means that not only are EVs more affordable to charge compared to traditional vehicles, but they also produce fewer greenhouse gas emissions. Contributing to BC’s overall climate goals and a cleaner Canada for generations to come.
Comparing Costs Across Canada
A study from UBC highlights that the cost of charging an EV in British Columbia is relatively lower compared to other provinces. In fact, EV owners in BC break even more quickly in terms of overall vehicle ownership costs because of the lower electricity rates and rebates for EV purchases and charger installations (UBC Mechanical Engineering). For example, BC Hydro offers up to $350 in rebates for home EV chargers, which helps reduce the initial costs of installation (BC Hydro Electric Vehicles).
While charging an EV does increase your household electricity bill, the overall cost savings from reduced fuel and maintenance can make EV ownership a cost-effective option in the long term. By taking advantage of BC Hydro’s time-of-day pricing and rebates, you can further reduce the impact of charging on your bill.
At AJS Electrical, we understand the importance of making informed decisions when upgrading your home’s electrical systems to accommodate EV charging. Our team is ready to help you install Level 1 and Level 2 chargers, ensuring your home is equipped for efficient and cost-effective EV charging. Whether you’re looking to reduce your environmental footprint or save on fuel costs, AJS Electrical is here to guide you through the process, helping you maximize both the financial and environmental benefits of EV ownership.
