Electric cars are the new trend in protecting the environment against harmful emissions and can save you a significant amount of money on fuel. These vehicles come with more modern features than their fuel counterparts. As such, a substantial number of people are opting to purchase electric cars. If you are contemplating owning an electric vehicle or already own one, it would be in your best interest to install a charge point in your home or business property. Having your very own electric car charger will give you total control over when to charge your car. However, most people don’t know how much money will be needed to cater for the purchase and installation of an EV charger. Read on to find out.
Just like home devices or equipment, EV chargers also come with varying prices. Some of the common reasons why electric car chargers vary include:
1. Charging Speed Generally, a slow EV charger will have a lower price than its faster counterpart. The charging speed for each charger is rated in kilowatts. For instance, a slow charging point for your home will charge your car at 3.7kW, while a fast one will charge it at 7kW. Either of these chargers will take between 5 to 12 hours to have your car fully charged.
The maximum charging speed may also be limited by your car. You need to, therefore, ensure that you purchase a charger with the exact charging rate provided by your vehicle’s manufacturer lest you spend a lot of money on a fast charger that will be under utilised.
Commercial chargers tend to be more expensive, but they provide a shorter charge time than those designed for use at home. Most of these chargers have a higher rating of between 7kW to 22kW and will give a shorter charge time of fewer than five hours.
2. Customisation and Home Needs If the criteria above for standard chargers are not met, your EV charge point installation cost is likely to go up. Any customisation that you may require will also have a significant effect on the overall EV charge point installation cost. Some of the common issues that affect the standard cost include:
Request for a longer cable
Additional cable chasing or protection
Need for alternative earthing system
The type and model of charger you choose also falls in the customisation category and will carry a significant impact on the overall cost of purchase and installation.
3. Quality and Features Expect to dig deeper into your pocket to cater to a high-end EV charging stations cost. While they might be expensive, you can rest assured that they will be of high quality in both delivery and materials. They will also have better features than their cheaper counterparts. Some may even be wall-mounted while others are free-standing, and each comes with its price. Free-standing chargers are more expensive than their wall-mounted counterparts.
With the vision to ban the sale of petrol and diesel vehicles by 2035, the UK government is encouraging people to buy electric cars by providing grants on the overall cost of EV charger installation. For home charge points, the maximum amount that the government is looking to grant is £350. The government contribution will cover a maximum of 75% of the total cost of a charge point and its installation. It’s strictly available to people who will have their EV chargers fully installed by an OLEV-accredited installer.
For commercial installations, the government will fund only 40 units. You also have to ensure that your charge point is smart, which means that it can be remotely accessed and is capable of receiving, interpreting, and reacting to signals. You also need to ensure that a qualified electrician resolves all electrical issues.
You may also be eligible for Energy Saving Trust Funding for an additional of £300 or £400 if you live in the remote areas of Scotland. To qualify for this trust fund, you must ensure that an accredited installer performs the installation.
How to get an accurate idea of the overall cost
To get insight into the overall amount of money you will spend on the installation, you may ask your installer to provide you with an estimate. A competent installation company will give you a quote derived from the specific needs of your home and any options you’d like to add. They will also consider the type of EV charger you choose to install. Some of them will even give you a quote on monthly installations if you are on a tight budget.
Before or after purchasing an electric vehicle, it would be best if you installed a charging point in your home or workplace as it will give you the convenience of charging your electric vehicle whenever you want and for the amount of time you want. The overall cost of installing these chargers will depend on the quality, customisation, and charging speed. The overall cost may also be subject to a significant amount of government funding, which will lower your total cost by a substantial percentage. To take advantage of this funding, you must follow the provided terms and conditions and ensure that an OLEV-authorised installer sets up your charger.
Written by Joost Gerrits
Joost is a real EV enthusiast. He shares all his findings, news, tips and tricks through fun and informative blogs. In addition, you can find him every now and then on the 50five YouTube channel with cool videos!