Posted July 05, 2018 10:56:25 If you are buying new electric or hybrid cars or if you have an electric vehicle in the garage you may need to pay a bit more than you would with conventional appliances.
A report published by the Automotive Research Institute (ARI) found that an electric car or a plug-in hybrid vehicle, which has a range of 200km or more, would need to cost around £6,000 to $9,000 for electricity, compared to around £1,000 and £3,000, respectively, for conventional appliances such as a fridge or washing machine.
The report, titled Plug-in Hybrid and Electric Vehicles: Electricity and Cost, says the “average cost for electricity is now more than $10 per kilowatt-hour”.
This means that an average electric car, for example, would require an average of $9.50 for an hour’s electricity.
Electric cars can be purchased in many models.
The most popular, the Nissan Leaf, is a plug and play car, meaning it can be driven on electricity.
However, electric vehicles, and even plug-ins, are still subject to the electricity charges for the electricity which are normally generated by the grid.
The research also found that the average price for electricity in the UK is now nearly five times higher than it was five years ago, at £7.25 per kWh, and more than double that for gas-powered vehicles, at around £3.50 per kWh.
Electric vehicles are now becoming a much more viable option for households as consumers can now purchase them in cheaper vehicles that don’t require expensive fuel subsidies, and many consumers are now looking to save on their energy bills.
However the research said the cost of purchasing electricity is still high, and that “electric vehicles may be priced in a way that may discourage consumers from purchasing them”.
The research said: “Electric vehicles will be a very expensive proposition for many households and could increase the costs of buying and maintaining electric vehicles for consumers, especially in the short term.”
However, with the introduction of cheaper fuel subsidies on the way, consumers may be able to afford to purchase electric vehicles and the price may decline.
“This is the first time the researchers have looked at how electricity costs in the US compare to other countries.
According to the report, electricity costs are typically higher in Europe, with an average annual cost of £5.60 per kWh in the EU.
However in the USA, the average is around $1.00 per kWh while in China, the price is around 40 cents per kWh and in India, it is more than 150 cents per kilo.
It is estimated that in 2020, the US electricity market will be worth over $US6 trillion, with US households receiving around $3,800 a year in electricity costs, compared with an estimated $4,400 a year for other OECD countries.
In an article on the website of the Washington DC-based Institute for Energy Economics and Financial Analysis (IERFA), which produced the research, it said the study showed that the cost structure for electricity has changed in the past five years.”
The average price of electricity has gone up dramatically, driven by the rise of electric vehicles,” the IERFA said.”
In the US, the electric vehicle industry accounts for more than a third of the electricity generated in the electricity sector.
“But the electric car industry is also growing, with over 50,000 electric vehicles on the road globally, compared the US only having 1,500 electric vehicles.”
As the cost to produce electricity has been increasing, the rate at which consumers pay for electricity and for maintaining electric cars has also risen.
“Electric vehicles have a much greater environmental impact, and they have the potential to reduce the costs consumers pay when they buy electricity.”