Why get an EV Charger? Is it worth it?

(Posted on 02/09/24)

If you've switched to an electric vehicle, you might be considering whether installing an EV charger at home is the right choice. Even if you think it's not an option, new solutions like on-street parking are being tested across the UK, making EV chargers more accessible than ever. Discover the many benefits of having an EV charger installed, from convenience and cost savings to enhanced safety. Learn everything you need to know about why getting an EV charger could be the perfect addition to your home.

Convenience

First off, charging your electric vehicle at home is much more convenient than using a public charging station. Instead of driving to a station and waiting around while your car charges, you can simply plug it in at home and let it charge while you go about your day. With more people switching to electric vehicles, public chargers are getting busier, making home charging even more appealing. At home, you can charge your car whenever it’s convenient for you, without any hassle.

You can now schedule your vehicle's charging through an app, allowing you to charge during off-peak hours when electricity prices are lower or at any specific time that works best for you. It's all about convenience and saving money.

Cost Saving

While it can be pricey to install an EV charger at home, the long-term savings make it a worthwhile investment. Charging at home is significantly cheaper than relying on public charging stations, which can be much more expensive. In fact, according to the UK government, using a home EV charger can save you up to £1,000 a year, especially when you take advantage of off-peak electricity rates. By charging your vehicle at home during these lower-cost hours, you can keep your energy bills down and maximise your savings over time.

Increased Property Value

While EV chargers can be a significant investment, they are well worth it, as they can increase your property’s value. Many studies have shown that homes with EV chargers are more appealing to buyers and tend to sell faster. According to a study by Riverleasing, 76% of UK homes with an EV charger saw an increase in value compared to the local average. With the future moving toward electric vehicles and the ban on combustion engines on the horizon, installing an EV charger is a smart way to prepare and add value to your home.

Faster Charger

A home EV charger offers significantly faster charging speeds compared to a standard three-pin plug. A 7kW charger can charge your EV up to three times faster, while a 22kW charger can be up to six times faster, making it much more efficient and convenient when it comes to charging your electric vehcile. 

Make Money with Your EV Charger

You may not be aware, but you are able to make money off your EV charger by in essence renting out your charger to people who may not have access to one. As the host you will be paid for the amount of energy used to charge the vehicle and the person who will be using will save money on their end in comparison to using a public EV charger. As the host you also have the ability to control how much you charge the payee, meaning it’s possible to generate a lot of money through doing this.

The cost of getting an EV charger installed at your home is not cheap, and it may be a reason why you’re unsure whether to install one. However, this is one way in which it can pay for itself.

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