New government plan may save EV owners £1000 a year

Owners of EVs are being told how they could save up to £1000 a year under the government’s latest plan to install smart charging across the UK.

Electric car experts at LeaseElectricCar.co.uk have researched how EV drivers can save money on their energy bills or make a profit from the National Grid under the new electric vehicle smart charging action plan.

The new government scheme sets out to unlock the potential of smart electric vehicle charging, helping owners of electric vehicles to save hundreds each year on their energy bills.

With the cap on the Energy Price Guarantee set to increase by 20% in April 2023, electric vehicle drivers will be able to minimise their spendings on energy bills.

The government states that the smart charging scheme plans to let motorists charge their EVs when the electricity is cheaper or cleaner.

Drivers can also use the electricity stored in their EVs to power their own homes, allowing them to benefit significantly from lower energy bills.

The scheme will also allow consumers to sell the electricity from their vehicles back to the National Grid for profit.

Bill payers who do not have an EV can also benefit from more sustainable and cheaper energy prices – reducing the demand when electricity is used on the grid from EV drivers will help contribute to reducing energy prices for everyone.

This new smart charging landmark initiative reports to use the latest energy innovations to deliver benefits to EV drivers as the country works towards its zero emissions target on UK roads.

With the ban on the sale of new petrol and diesel cars being introduced in 2030, the smart charging plan aims to further encourage more drivers to make the switch to electric.

The report states that the average electric vehicle driver could save around £200 a year, and a high mileage driver £1000 a year, with the introduction of smarter charging across the UK.

The government is aiming to make smart charging commonplace for EV drivers by 2025 – further initiatives like smart lamppost charging on the street will help make this move happen.

To further the smart charging scheme, £16 million will be invested into these innovative technologies which will harness the potential of the new way of charging.

Alongside smart lampposts, projects to enable domestic appliances to be able to merge into a whole smart energy system, like heat pumps, charge points and batteries, which will also be funded.

Tim Alcock at LeaseElectricCar.co.uk said: “It’s a great win for EV drivers – under the new smart charging scheme you may save up to £1000 on energy bills.

“The government has announced that this scheme will allow you to use electricity to power your homes, energy which is otherwise stored in your vehicle, as well as being able to sell back electricity to the National Grid to make some money.”

He said that it’s good news for those who don’t own an electric vehicle too.

Alcock stated: “By reducing the demand for electricity, such as pumping electricity from EVs into the home, this will in turn help contribute to lowering the overall demand and costs for bill payers across the country.

“As we head towards an increase of the energy price cap, the smart charging scheme is a positive step forward for the country to help reduce costs for all consumers.

“Investment into the smart energy system is also going to help EV drivers in the long run too. Smart lampposts and merging domestic appliances into the system will help make smarter charging easier for motorists.

“This recent announcement gives the electric vehicle industry hope that the right infrastructure is being put in place as the country moves towards the ban of new petrol and diesel cars in just seven years time.”