What's The Cost Of Charging An Electric Car vs Petrol?

Electric cars are becoming increasingly popular in Australia, with more and more drivers switching to electric vehicles (EVs) as they become more affordable and accessible. One of the main advantages of EVs is their lower running costs compared to petrol cars, but how much does it actually cost to charge an electric car compared to filling up a petrol car in Australia? Let's take a closer look.

First, let's consider the cost of charging an electric car. The cost of charging an EV depends on several factors, including the cost of electricity, the size of the car's battery, and the charging method used. On average, the cost of electricity in Australia is around 25 cents per kilowatt-hour (kWh), but this can vary depending on where you live and what time of day you charge your car.

If we take a mid-sized EV with a battery capacity of 60 kWh, fully charging it from empty would cost around $15 (60 kWh x $0.25 per kWh). However, most EV drivers don't fully discharge their batteries and charge them back up to 100% on a regular basis, which means the cost of charging will be lower than this. Additionally, many EV drivers take advantage of off-peak electricity rates, which can be as low as 10 cents per kWh, further reducing the cost of charging.

Now, let's compare this to the cost of filling up a petrol car in Australia. According to the Australian Institute of Petroleum, the average price of unleaded petrol in Australia in January 2023 was around $1.67 per litre. The average fuel economy of a mid-sized petrol car in Australia is around 8 litres per 100 kilometres, which means that driving 100 kilometres would cost around $13.36 (8 litres x $1.67 per litre).

So, what does this mean in terms of overall running costs? The cost of charging an EV to travel 100 kilometres would be around $4.50, assuming a cost of 25 cents per kWh and an average energy consumption of 15 kWh per 100 kilometres. In contrast, the cost of driving a petrol car 100 kilometres would be around $13.36. This means that the cost of driving an EV is around 66% lower than the cost of driving a petrol car in Australia.

Of course, this is just a rough estimate and the actual cost of charging an EV or filling up a petrol car can vary depending on a range of factors. However, it's clear that EVs offer a significant cost advantage over petrol cars when it comes to running costs. Additionally, as renewable energy becomes more prevalent in Australia, the cost of charging an EV from solar or wind power will become even lower, further reducing the cost of driving an electric car.

In conclusion, the cost of charging an electric car is significantly lower than the cost of filling up a petrol car in Australia. While EVs may have a higher upfront cost, the long-term cost savings from lower running costs can make them a more economical choice for drivers in the long run. As EV technology continues to improve and become more widespread, it's likely that more and more Australians will make the switch to electric cars in the coming years.

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