A man who has owned four electric vehicles over the past decade has revealed the extraordinary financial difference compared to petrol cars. With rising oil prices due to conflict in Iran, many motorists are considering switching to electric vehicles, but questions remain about whether they actually save money.
Remarkable Savings from Electric Cars
Climate scientist Bill McGuire, who has owned several versions of the Nissan Leaf, shared his experience in the i newspaper. He noted virtually no technical problems and extraordinary financial savings. McGuire has a home charger and solar panels, allowing him to charge at night for 12p per unit or for free when sunny.
He explained that while a petrol car costs around 12p to 18p per mile, an electric vehicle can cost as little as 2p per mile. Off-peak home charging can reduce costs to 2p per mile, depending on the supplier and tariff.
Total Savings Over a Decade
Based on his mileage over 12 years, McGuire estimates saving at least £10,000. He also highlighted that future electric cars could allow drivers to sell surplus electricity back to the grid through Vehicle-to-Grid (V2G) technology.
Motoring journalist Ginny Buckley also praised EVs, calling them the biggest saving. She noted that home charging with an off-peak tariff can cost just a few pence per mile, roughly a third of petrol costs. Additionally, regenerative braking puts energy back into the battery, providing free miles.
