Electric vehicle owners enjoy even greater savings due to the surge in petrol prices.

In 2019, an attempt was made to answer the‍ question of how much it costs in electricity to run an‌ electric ‍vehicle‌ (EV). With ⁣the recent spikes in petrol prices and the decrease in ​EV prices, it is a⁣ good​ time to revisit this topic.

In Australia,⁣ petrol prices have reached​ as high as $2.38 per litre. To ​demonstrate the cost ⁢comparison, the calculations in this revised example will use this worst-case petrol figure. Additionally, ⁢different electricity prices will be considered.

For this example, the Western Australian electricity price structure known as ‘EV Add On’ from Synergy will be used. ​This tariff structure is​ a good representation of the increasing use of renewable energy generation and the resulting changes⁣ in periods of‍ high⁣ and low electricity supply capacity.

Here are the assumptions for the calculations:
1. Annual average⁤ distance driven per light passenger vehicle in Australia: 11,100 km
2. Average⁣ kWh/100km for an EV:‌ 15 kWh/100km
3. Average petrol‍ consumption‌ for light ​passenger vehicles‌ in Australia: 11.1 L/100km
4. Recent worst-case petrol‍ price: $2.38/L in Brisbane during mid-September
5. Low electricity tariff: 8.2c/kWh (Synergy, WA ⁣super off-peak rate, 9am to 3pm)
6. Overnight off-peak‌ rate: 18.45c/kWh (Synergy, WA 11pm to 6am)
7. General off-peak rate: 22.55c/kWh (Synergy,‌ WA 6am to 9am/9pm to 11pm)
8. High electricity tariff: 51.2c/kWh⁢ (Synergy, WA peak rate,‍ 3pm to ⁣9pm)

The calculations are as follows:
– Average annual EV ​electrical use: ‌11,100 km x 15/100⁤ = ⁣1665 ⁢kWh per year.
– Fuel used for an internal combustion engine (ICE) vehicle at 11.1⁢ L/100km and $2.38/L over​ the same distance: $2809.18.

Based on these numbers, ⁤let’s ⁤compare the average EV recharging costs ‍to the average petrol costs using different tariffs for 11,100 km⁣ per year. ⁢The⁤ results are summarized⁣ in the table⁤ below:

[Image: Table comparing EV recharging costs to petrol costs]

In summary, even if an EV is charged at ⁤the highest peak rate, the average cost‍ of recharging is only 30% of the average cost of petrol for an ICE vehicle. If the Super Off-peak rate is used,​ recharging costs are less than 5% of petrol ‍costs. The savings become even more ‌significant if the EV travels 20,000 ​km or ‌30,000 km per year.

It ⁤is unfortunate that the average petrol consumption for passenger vehicles in‌ Australia has ​worsened over​ the years. This highlights the ‍need ⁢for Australian fuel efficiency standards that reflect the decreasing fuel consumption ‍in other​ OECD countries.

Feel free to recalculate‍ the numbers based on your own⁤ vehicle’s petrol‍ fuel economy and price, as well as electricity tariffs. However, it’s worth⁢ noting that electricity prices offer more options than petrol stations, which tend to‍ have price cycles that result in higher prices during‌ school holiday periods.

Even with the Victorian ⁢EV Tax, which is⁢ known for ⁤its high charges,‍ the additional​ cost for⁢ EV drivers‍ in Victoria ‌for 11,100 km per year is only $311.

Considering the advantageous electricity tariff structures and​ lifestyle options available in ‍Western Australia, it raises the question ‍of when the WA government will start a campaign to ⁤attract interstate EV owners to move there.

In addition, some retailers are offering even better ⁢tariffs to customers willing to be flexible with⁣ their charging schedules, as reported by Sophie Vorrath in an article.

To conclude, based on the figures presented, it is undeniable that an EV is cheaper​ to run ⁤than⁤ an ICE vehicle. Moreover,⁣ EVs have ⁣reduced⁤ servicing costs, ‍less wear on the brakes, and no tailpipe emissions contributing to local pollution. As ​the grid transitions‌ from fossil fuels to renewable⁣ sources, EVs also have the⁤ potential to reduce their energy CO2 emissions continually, unlike ICE‍ vehicles ‌that​ depend on carbon-based fuels.

If you want to calculate your own EV electricity running costs, you can use the useful calculator provided by the Green Vehicle Guide.

1. Australian Bureau of Statistics: Survey of Motor Vehicle Use, Australia, 12 months‍ ended 30.6.2020 (data⁣ collection ceased at that date).
2. The average kWh/100km figure was⁣ chosen as a midpoint between the lowest and highest values for the top 20 BEVs available in the Australian market, according to the Green Vehicle Guide.

Bryce Gaton is an expert on electric vehicles and a contributor for The Driven and Renew Economy. He has been involved in the EV sector since 2008 and ⁤currently‍ works as an EV electrical safety trainer/supervisor for the University ‍of Melbourne. He also provides support for the EV ⁢Transition through his consultancy, EVchoice.
Electric Vehicle ⁤Owners Enjoy Even Greater Savings Due to the Surge in Petrol Prices

In recent years, the price of petrol has witnessed a substantial surge, prompting vehicle owners to search ⁣for alternative options to mitigate their‌ transportation expenses. As a⁣ result,⁢ electric vehicles (EVs) have gained significant popularity and have increasingly​ become a ​preferred choice for many ​motorists. The surge in petrol prices has further cemented the financial advantages of adopting electric vehicles, enabling‌ owners to enjoy even greater savings.

The environmental benefits of electric vehicles have long been recognized, with zero emissions being⁢ one of their most⁣ significant advantages. However, the surge in petrol prices has highlighted another compelling reason for drivers ⁤to switch ⁢to electric vehicles: ​the potential for substantial cost⁤ savings. While the initial purchase cost of an​ electric vehicle is often higher than that of a traditional petrol-powered car, the long-term advantages in ⁣terms of fuel expenses and maintenance costs more than compensate for this discrepancy.

With the⁢ sharp rise in‌ petrol prices, electric vehicle⁣ owners find themselves insulated from the uncertainties of continually fluctuating fuel costs. The volatility of ⁣the oil markets ‍can have a significant impact on everyday expenses for vehicle owners. Petrol prices are subject to change based on various‌ factors such as global political ⁣tensions, conflicts in oil-producing regions, and changes in supply and demand dynamics. These fluctuations are no longer‌ a concern for electric vehicle owners as⁣ they are not reliant on fossil fuels for their day-to-day commute.

While petrol prices rise mercilessly, with seemingly no end in sight, electric vehicle owners benefit from consistently lower fuel ⁢costs. The electricity required to recharge an electric⁢ vehicle typically costs ⁢significantly less than its​ petrol counterpart, resulting in substantial savings over time. Furthermore, the price of electricity is more stable ⁤and predictable compared to petrol, allowing EV owners to budget their transportation expenses more⁤ effectively.

Maintenance costs are ‌another area where electric vehicle owners enjoy greater savings. Electric vehicles are⁣ much ‍simpler in structure compared to traditional vehicles, as ⁣they contain fewer moving parts and do not rely on complex internal combustion engines. This simplicity translates into reduced maintenance requirements and costs. EV owners enjoy‌ lower ​maintenance ​expenses,⁢ as they no longer need to worry about frequent oil‌ changes, transmission repairs,​ or ⁢exhaust system replacements. The result ⁣is greater savings over the lifespan of an electric⁤ vehicle,⁢ further⁤ contributing to their overall cost-effectiveness.

Beyond personal savings, the adoption of electric vehicles​ also contributes to a more sustainable future. The reduced reliance on fossil fuels helps combat climate change and improve air quality. As⁤ governments and policymakers increasingly prioritize sustainable transportation⁣ initiatives, incentives and tax rebates for purchasing electric vehicles are becoming more commonplace. These​ incentives, coupled with the financial advantages of lower fuel expenses⁣ and maintenance costs, make electric vehicles an attractive proposition for both environmentally-conscious individuals and financially prudent motorists.

In conclusion, the surge in petrol prices has served as a catalyst ‌for motorists to reevaluate their options and consider electric vehicles as a viable alternative. The financial advantages of ​EV ownership have been greatly enhanced, with electric vehicle ⁤owners​ enjoying even greater savings due to the​ soaring costs of⁣ petrol. With predictable and lower fuel expenses, reduced maintenance costs, and the significant environmental benefits ‌they offer, electric vehicles are proving to be an ideal solution for⁣ both economical ⁣and eco-conscious drivers. As petrol prices continue‌ to rise, the appeal and potential for savings with electric⁣ vehicles become even more enticing.