EV drivers pay the equivalent of 11 months instead of 12 months of electricity to power their home.
Yes, you heard it, EV drivers save up to 10%.
There are a lot of discussions on social media about the cost of driving an EV. You can also find some monthly articles that explain the economic aspects of owing an EV. However, no one has looked at the impact of EV charging has on your home electricity bill.
EV Charging Cost at Home
What Is a Delivery Charge?
Please look at the example:
Breakdown Of the Delivery Charge
To understand what’s included in the Deliver charge you need to look here, on Toronto Hydro’s website.
It turns out that C$40.70 of the Delivery charge is fixed. This means, regardless of your consumption you get charged C$40.70 every month. So, our Toronto EV driver pays a Variable charge and a Fixed charge.
Why would a user decide to purchase an EV and how might it impact their bills when EV charging as well as powering the rest of the house?
Estimating Home Electricity Expenses
So, if we divide the delivery charge of C$40.70 by 750 kWh, this is equivalent to 5.43 ¢/kWh. Using the OEB bill calculator a Toronto Hydro customer would pay C$113.15 plus tax every month for 750 kWh. This works out to 15.09 ¢/kWh.
A typical EV driver consumes 3,000 to 4,500 kWh per year commuting, that’s on average 300 kWh per month. When we combine the residential consumption of 750kWh with the EV consumption the total would increase to 1,050kWh/month. This takes the delivery charge per kWh from 5.43¢ to 3.88¢ since it’s a fixed amount.