Considerations for charging your electric car

       Estimated read time: 2 Minutes

      More and more electric vehicles are hitting the road. But where can you charge them, what’s the cost involved and how do you get a charger for your electric car? Here's some information to consider.

      Where can I charge my EV?

      You can charge your EV almost anywhere there is a wall socket in close proximity to your car, however you’ll need to have time on your hands. Dedicated fast superchargers are continually being installed at shopping centres, petrol stations and highway rest stops across the country. Check out this nationwide charger map to see what’s available around you or on your next road trip.

      How much does it cost to recharge an electric car?

      This depends on several factors; primarily the type of charger and where it’s located. But overall, you can save up to 70% on fuel costs by swapping to an electric vehicle. This could amount to an annual fuel saving of $1000, or $1200 if the EV is able to charge overnight on an off-peak tariff.1 

      Some chargers work on a flat fee, others charge per Kw, while others are free or subsidised by the operator. It’s best to check before ‘plugging in’ but it’ll often be cheaper than a full tank of petrol. 

      What about charging at home?

      If you’re charging at home using a level 1 or 2 charger, the cost will depend on the time of day (peak vs off-peak) and your current plan with your electricity provider.

      Are all electric vehicle chargers the same?

      There are three different categories of electric car chargers, defined by the amount of power they deliver to your vehicle and the time taken to recharge2.

      Level 1: 1.4-3.7kw Standard Wall Chargers
      This is the most universally available way to charge your EV: straight into your standard wall socket. However, the drawback for this convenience is that charging can be slow to fully recharge your EV, only charging on average 10-20km of range per hour2.
      Level 2: 7-22kw Dedicated Home Chargers
      The next step up is an enhanced at home charger (also referred to as a Level 2 Charger or Wall Box), that can deliver roughly 30-130km of range per hour2. These charges work much quicker than plugging into your standard electrical outlet due to the specialist installation and equipment provided with the charger, and must be installed in your garage by a licenced electrician.
      Level 3 & 4: 25-350kw Superchargers
      You can find superchargers on major highways, shopping centres, and car parks across the country. These involve dedicated infrastructure and can provide your EV with anywhere from 150-1000km range per hour - some can even fully charge your EV in as little as ten minutes.2 Perfect for topping up your battery while grabbing a coffee and lunch on a longer road trip – or even while you’re popping in to do the groceries.

      Want to know more about EVs? We’re here to help

      If you're ready to embrace the electric revolution, then we're ready for the drive with you. Our fixed rate electric car loans have helped thousands of Australian drivers get behind the wheel of an EV. What’s more is you can tailor your repayments with flexible deposit and balloon options.

      Find out more

      Sources:
      1 Why buy an Electric Vehicle? NSW Government, Transport NSW, 21/03/22
      2 Transport for NSW

      Information is current as at 31 December 2023 and subject to change.

      Andrew Gamble - Pepper Money Head of Sales - Asset Finance

      Contributor | Andrew Gamble, Head of Sales - Asset Finance

      Andrew brings more than 20 years of experience in the finance industry. His strategic vision, leadership and his customer centric approach has contributed to the significant growth of Pepper Money's Asset Finance business. Read more.

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