What is the fuel savings?

electric meter
One of the best kept secrets seems to be that the electric companies charge differential rates for peak and off-peak usage BUT you need a ‘time-of-day’ electric meter installed in order to take advantage of this potential savings. A friend told me about this many years ago and JCP&L installed one at my request – at no cost to me. Ever since, we have been doing laundry and running the dishwasher at off-peak hours; we have been enjoying a non-trivial savings ever since.

I knew that with an EV, I would be able to recharge the battery at home during off-peak hours and get an additional savings. My first electric bill arrived today and the impact of my EV is too small to detect! I have not kept records of my KWH usage and my account portal only shows one year’s worth of data. Based on what I know and can estimate, here we go:

  • In May ’12, we used 994 KWH
  • In April ’13, we used 903 KWH – there are obviously differences from year to year in the weather, but after one month with an EV, I cannot detect the cost of fuel
  • Of the 903 KWH used, 693 were off peak and 210 were peak
  • My bill itemizes the peak and off-peak rates for electricity generation and delivery:
    • Total cost for peak = $0.191846/KWH
    • Total cost for off peak = $0.11708/KWH – this is an additional savings of 39% by charging during off peak
  • Using someone else’s (http://cleantechnica.com/2012/06/07/fuel-costs-of-a-honda-fit-ev-0-02-0-04-per-mile/) estimate for the Fit EV of 0.29 KWH/mi, my cost is $0.034 per mile.
  • Comparing this to gasoline in my area of $3.50/gal and at 30 mpg for my other car, that comes out to $0.117 per mile

Therefore, my fuel costs for the EV are approximately 1/4 the cost of a fuel efficient gasoline car.

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