After some initial hesitation, the future is starting to look greener for EVs in Australia. A recent survey by CEDA showed that 42% of participants would buy an EV for their next purchase. The federal government passed a bill to make electric vehicles provided by employers to employees more affordable, while state governments are installing more public charging stations around the country.
With more EV makes and models being released and government legislation to help make these sustainable dreams a reality, now is a great time to trade in your petrol guzzler for an electric alternative. But how exactly do you do that?
We’ve broken down what you need to know about costs, charging and how we can help make your switch to an EV easier.
A wide range of rides
The number of electric vehicle makes and models available in Australia is rising. The Electric Vehicle Council reported that 8.4% of all new cars sold as at June 2023 have been EV’s, more than double compared to all of 2022. You can already choose EVs from popular brands such as Hyundai, Mazda, Kia and Tesla, and with more companies entering the market, there will be a bigger range of price points that make it much easier to find an EV that fits your sense of style – and budget.
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So, how do you pick the right one for you? One way to make sure you love your new car is to try it out with an EV subscription. An electric car subscription takes away a lot of the guesswork – and can help get you behind the wheel of an electric vehicle with fewer questions and more excitement.
Plugging into the future of driving
With tech improvements, and government and fuel company commitments to add charging stations around the country, powering up your electric vehicle is also becoming easier – both at home and on the go.
Most EVs come with an adapter that lets you charge your electric vehicle using a standard outlet. But if you’re looking for a faster way to get powered up and back on the road with confidence daily, you can have a home smart charger installed.
Regardless of how you decide to charge at home, an AGL EV Electricity plan can help you keep your vehicle juiced up for less.
Busting EV range myths
These days, electric vehicles are better equipped to handle long days of work, road tripping and running errands.
Think about what you really use your car for day in and day out. How long is the drive to work, kids’ sports or the shops? Do some rough maths, then take the kilometre range of the vehicle you’re looking at (or if you’re not sure yet, you could take 353km which is the estimated average range of EVs globally) – and divide this by your estimated average daily travel distance. That should give you a rough idea of how often you’ll have to charge. Several car manufacturers offer ‘long range’ versions of their EV models and there several popular models available in Australia with ranges of more than 450km. That’s a lot of road!
Planning to hit the highway with your friends and family on a road trip? You can easily map out your route to ensure you hit a public charging station along the way, and if you’re driving a Tesla, the inbuilt GPS navigation will work it out for you which makes planning super simple! Some of the best EV chargers feature speedy Direct Current (DC) charging – with some models jumping from 20% to 80% charge in just 15 minutes – that can have you rolling along again by the time you’ve finished lunch.
Do the maths on making the switch
Buying a new car is always a big financial decision, but when it comes to electric vehicles, there are some additional considerations aside from just the price tag. Electric vehicles are generally more cost-effective to run, and these savings can help to offset the initial upfront cost.
Perhaps the most obvious way electric vehicles can save you money on running costs is by reducing how often you need to fill up at the petrol station (in the case of a plugin hybrid) – or eliminating it altogether! While you’ll still need to pay for charging, this is typically far less costly. Your exact savings will vary based on a range of factors, including petrol and energy prices, but you can use this calculator to estimate how much you could save.
For example, let’s say you wanted to travel 100km. The average EV will generally require about 15kWh of electricity to charge the battery enough to cover that distance. If you could charge your EV at a rate of $8c/kWh (a great low overnight rate currently offered by one EV Energy plan), that comes out to about $1.20. Compare that with the most recent Australian Bureau of Statistics report that says Australians use an average of 11.1 litres of petrol to cover 100km. With petrol costing an average of 188/litre in the week ending 30 July 2023 according to the Australian Institute of Petroleum, you’d have to spend around $20.86 to drive your 100km. That’s quite a bit of potential savings through electric.
Another way that EVs are expected to be more cost-effective to run is by requiring fewer trips to the mechanic. Electric vehicles typically have fewer internal components than petrol-fuelled vehicles, meaning less need for regular servicing and fewer parts that may need replacing. What this could mean in terms of savings over a 5 or 10 year period is very difficult to predict or quantify, but it is another factor to keep in mind.
Transitioning to an electric vehicle might be easier than you think. AGL has the experience to help you navigate this process.
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