While electric vehicles continue to impress the world with their wide array of advantages, these vehicles cost much higher initially than the standard gasoline vehicles and this is why many companies claim that their vehicles are cheaper to drive at a later stage than the internal combustion engine (ICE) counterparts.
However, the tariffs of electricity vary from one country to another so the cost of charging a car battery varies depending upon which European country you reside in. So this article delves into the specifics to throw light on how beneficial it is for you to own an EV in your country.
Where Does It Cost The Least To Run An EV In Europe?
Ukraine, Kosovo, Serbia, North Macedonia as well as Bosnia and Hertz takes the top spots respectively by being the cheapest countries to charge an EV as the cost of fully charging an EV in these countries comes out to be €2.91, €3.78, €4.61, €4.89 and €5.44 respectively.
The cost to drive an EV for hundred kilometers in Ukraine, Kosovo, Serbia, North Macedonia & Bosnia and Hertz is €0.96, €1.25, €1.52, €1.61 and €1.79 respectively.
Where Does It Cost The Most To Run An EV In Europe?
Germany, Denmark, Belgium, Ireland and Spain are the most expensive countries to own an EV In Europe as driving an electric vehicle for 100 km in these countries costs €6.27, €5.84, €5.75, €4.97 and €4.61 respectively.
The cost of fully charging an EV in these countries is €19.02, €17.71, €17.45, €15.08 and €13.99 respectively.
Why Is There Such a Huge Difference?
The huge difference in the cost of running EVs in different European countries is due to the different energy tariffs in different countries.
While a kWh of energy costs €0.05 in Ukraine, the lowest in all of Europe, the same kWh energy costs €0.06 in Kosovo whereas it costs €0.07, €0.08 and €0.09 in Serbia, North Macedonia & Bosnia and Hertz.
On the contrary, the cost per kWh in Germany, Denmark, Belgium, Ireland and Spain is €0.3, €0.28, €0.24 and €0.22 respectively.
You can check out more information about this here.
Incentive Offered By Governments For Cheaper Charging
Here are a few of the incentives that governments offer for ensuring that the cost of charging EV decreases.
The UK government offers up to 75% subsidy (as much as €418) upon the installation of an electric car charger.
For office complexes, the government offers a subsidy of up to 75% (as much as €418) for the installation of up to 40 electric car chargers.
10% to 30% subsidy is offered by the German government upon the installation of a wall charging unit.
The local cities and municipalities offer to charge incentives of around €3500 whereas energy providers also offer an additional grant of up to €400.
The Belgian government offers up to a 13% tax rebate on all investments made for installing electric car chargers.
75% cost of the chargers is deducted from the income tax.
Learn more about these grants here.
Why Charging EVs At Home Is Cheaper?
European governments are keen to promote home chargers and this is why heavy subsidies on the installation of home charging units are being offered.
Charging at home is convenient and can be done whenever you feel like it. Furthermore, the wide array of smart charging options ensures that you can use a smartphone app to select the time at which you want to perform your EV’s charging.
Charging EVs at home is much cheaper as well because fast chargers cost almost thrice than what it costs on average to top up your EV at home when you do it during the off-peak tariff hours.
How much will your EV cost you depends on where you live and where you charge it.
However, with considerable subsidies being offered by European governments, many people are making the switch and rightly so because EVs are more desirable now than they ever were before this.