Electric vehicle owners using public chargers overnight are on track to save up to £260 a year, according to new research undertaken by EV charging app Bonnet.
Bonnet reviewed the habits of more than 100,000 drivers using its app, looking at where and how they refuel their EVs, and found those taking advantage of smart off-peak energy tariffs, which are increasingly offered by public charging networks, have already saved hundreds of pounds this year.
Off-peak tariffs are currently offered in the UK by several major charging networks, such as GeniePoint and Char.gy, allowing drivers to take advantage of cheaper rates overnight, though the exact hours and days vary by network. These smart tariffs are especially helpful for the estimated third of drivers who can’t install a charger at home.
To undertake the analysis, Bonnet looked at all the recharging sessions undertaken through its app to create an average cost of those using peak tariffs, off-peak tariffs, and those combining off-peak with Bonnet’s Boost subscription – which further discounts driver costs by up to 15%.
EV drivers who used both off-peak tariffs and Bonnet’s Boost spent an average of £11.13 for a full charge – meanwhile those who didn’t take advantage of off-peak rates, and weren’t boost subscribers, spent a hefty £16.19 on average for a full charge – an increase of almost 50% (46.5%).
Assuming normal use, over the course of a year, Bonnet’s data shows that EV drivers who take advantage of Bonnet’s Boost packages and off-peak tariffs can save £260 annually.
Patrick Reich, CEO and co-founder of Bonnet, said: “This data will be welcome news for those looking to go electric but worried about not having access to a home charger. With the rollout of these innovative smart tariffs at public chargers, drivers are able to save hundreds of pounds annually – even with historically high electricity costs.”
Bonnet has updated its app so drivers can easily find chargers with cheaper overnight rates.