The energy and cost of living crisis of the last three years has shed a spotlight on just how much electricity we all use in our homes. When previously we were more comfortable thinking of our electricity bill as a fixed direct debit, many of us now are fluent in what kWh and standing charges mean, and keep a beady eye on how they change. And for those of us taking the plunge and buying an EV, we quickly come to appreciate that our new electric car becomes the biggest point of consumption within the home. The tradeoff of having a higher domestic electricity bill tied to an EV, is of course no more visits to the petrol station and a lighter load on the planet. But how just much could we be saving?
We used the Volvo XC40 for our case study, a unique car given that the team in Gothenberg have produced a BEV, PHEV, MHEV, petrol, and diesel variant since it's introduction in 2017. The petrol1 variant would cost a British driver £1,226 annually in fuel2, whilst also emitting just shy of 2 million grams of CO2e. A reasonable impact on both our household finances, and the air we breathe. Yet cover that same annual average mileage, 7,400 miles3, with the EV varuabt powered by a home charger4 would cost just £319. A 74% saving, plus no tailpipe emissions that warm the planet, and destroy local air quality. But is that where the benefits stop? Not quite...
OVO Energy's revolutionary Charge Anytime tariff add-on elevates those EV savings yet again . Thanks to an integration between Hypervolt and OVO, customers can connect their Home 3 Pro to their OVO account and benefit from a charging cost of just 7p/kWh, around 70% lower than the UK standard tariff. OVO's app determines when the best time to charge is, usually when the grid is greenest and demand is lower, and sends a command for the EV to start charging then. This means that you can charge more cheaply, and more greenly, without any intervention, simply letting Hypervolt and OVO do the work for you.
What this means for drivers? Covering that same annual mileage with an EV powered through Charge Anytime, would cost just £99.81, and that's not a month, that's per year! A phenomenal 92% annual saving compared to petrol. 'The impact of this tariff is really quite profound' Head of Partnerships at Hypervolt, David Woodford explains. 'Long-gone are the days of filling up a tank of fuel for £100 or so. My car costs just £3.50 to charge from empty to full, which will give me around 250 miles of range. It's an absolute no-brainer.'
To take advantage of the Charge Anytime savings, customers will need to switch their domestic tariff to OVO, and will need a Hypervolt Home 3.0 or newer, however with such impactful savings, it's well worth it for anyone considering a greener way of living. Our transformational work with the team at OVO and Kaluza doesn't just make EV a more affordable proposition for millions, but crucially helps edge us closer to our mission of a net-zero Britain.
Learn more about OVO Charge Anytime here.
Hypervolt specialises in the development of advanced EV charging solutions designed to meet the needs of modern consumers. With a focus on innovation, reliability, and ease of use, Hypervolt is committed to driving the adoption of electric vehicles and supporting a sustainable future.
OVO launched in 2009 with a belief that energy could be better. Since then we’ve welcomed over a million members, planted over a million trees and set our sights on helping to save the planet. In 2019 we launched Plan Zero - our sustainability plan. That’s why we’re helping UK homes on the Path to Zero. With a range of smart tech to choose from and our expert teams by your side, we can help you take steps to reduce your energy bills and our collective carbon footprint. Plus, we’re planting 1 million trees a year in schools and communities right here in the UK. And aiming to be a zero carbon company by 2035.
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1 Petrol variant of the Volvo XC40 used in the case study is the 2.0 B3 Core 5dr Auto
2 Based on the UK average cost of unleaded petrol at 142.86p/litre (Source: RAC Fuel Watch @1732 20/08/2024)
3 Based on the annual average mileage of 7,400 miles (Source: Britannia Car Leasing)
4 Based on the average UK domestic electricity tariff of 22.36 p/kWh (Source: The Eco Expert @20/08/2024)