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Electric vehicles: How I saved £9,000 a year swapping diesel for electric

Tuesday, 1 June 20213 minute read
Electric Vehicles

Swapping to an electric vehicle is daunting. But there are savings to be made in the long term. In this blog, find out how one driver is saving £9,000 a year.

Our latest annual People and Power report revealed that, while 75% of people are trying to reduce their environmental impact, 65% think it costs more to live sustainably.

It’s not all that surprising a statistic when we start to think about the changes we’re being recommended to make — like installing heat pumps and solar panels, and upgrading insulation — which can come with a hefty price tag. At first glance, electric vehicles carry significant upfront costs too, from the leasing or buying of the car itself to the installation of the charger.

But, in the longer term, there are significant savings to be made.

James Beaves, from Waterlooville, Hampshire, swapped his diesel Audi A4 for a plug-in hybrid BMW 330e last December. Since then, he’s covered over 300 miles and hasn’t had to fill up the petrol tank in over three months.

Swapping diesel for electric

Pre-pandemic, James was racking up 35,000 miles per year, mostly for work, and paying around £7,200 in fuel alone. While lockdown has reduced his miles, the same 36,000 annual mileage driving fully electric would cost less than £2,000.

Reducing tax and congestion charges

And the saving doesn’t stop there. James is also saving £360 a year by being exempt from the congestion charge when he makes trips into London.

Driving an EV comes with tax savings too. Because James has a company car, it’s treated as a benefit in kind, but plug-in hybrids are taxed at 13% rather than 31%. For a 40% tax rate payer, this means paying £1,749 rather than £4,776 — a £3,000 saving.

Switching to green energy

As part of his own green revolution, James also switched his energy supplier to Pure Planet, saving him almost £400 a year on his bills. And thanks to our partnership with EO Charging, he was able to take advantage of a discount on an EO wall charger too.

James says: “It's really nice knowing that all of our electricity is coming from wind and solar, as it's all renewable so you don't feel too bad.”

Addressing range anxiety

A common concern for people considering an EV is range. For shorter, local journeys James does them entirely on electric. He says: “The battery costs me £1.66 to fill up and when I get home I just plug it in again.

“For longer journeys I use hybrid mode but I have only put one tank of petrol in the car so far, I think that was on 17th of December and I've still got 89% of the tank left.

“I'm a scientist so I didn’t need convincing of the issues around climate change, and I want to know that I am not unnecessarily and excessively putting harmful substances into the atmosphere.”

All in all, James is saving over £9,000 a year driving electric and switching to green energy. Yes, the upfront costs are undeniable, but so are the benefits of driving electric, both for the pocket and the planet.

To find out more about EO Charging, and how much you could save on a charger as a Pure Planet Member, visit our website.

Alexandra
Digital Content Creator