Consumer Group Finds EV Owners Save Only $100 Annually Compared to Regular Vehicles
According to Energy Consumers Australia, the savings from electric vehicles (EV) will gradually increase to $1,400 by 2030.
A consumer body reveals that EVs are currently saving motorists $100 compared to buying a regular vehicle. Brian Spak, director at Energy Consumers Australia, stated that EVs offer the “single greatest opportunity” for households and small businesses to benefit from the renewable energy transition.
Spak acknowledged that the current savings were “relatively modest” as EV owners only save around $100 a year compared to conventional vehicles, factoring in the purchase price. However, he emphasized that this cost-saving benefit would increase as EV prices decreased.
During a parliamentary committee session on July 25, Spak cited a report by his organization and stated, “As electric vehicle prices decline, the CSIRO found that the savings for every driver ballooned to more than $1,400 per year by 2030.”
He also mentioned that additional consumers would benefit from the increase in EVs, with an annual savings of about $180 per year today and up to $300 per year in the future for households that do not own an EV. This is due to EVs charging when the grid is less stressed, which helps lower network prices.
To fully reap these benefits, Australian consumers will require accessible and reliable EV charging infrastructure. Spak highlighted maintenance issues with public EV chargers in the US and suggested the government establish robust reliability standards for charging infrastructure.
Limited Access to Charging Infrastructure
Timothy Jarratt, an executive at Ausgrid, noted that limited access to charging infrastructure was a major barrier to EV uptake in Australia. He mentioned that in New South Wales (NSW), 30% of people struggle to access charging at home due to various reasons like renting or living in apartments without driveways.
Similarly, Colin Crisafulli, a general manager at Endeavour Energy, expressed concerns about the lack of available charging stations hindering EV adoption. He explained that in NSW, there were 35 EVs for every public charging station, compared to a 17-to-one ratio in the UK. Mr. Crisafulli shared that his company had helped the state government install 22,500 charges on existing poles and electricity infrastructure to address the EV charging shortage.
