The potential financial savings of using off-peak charging, even for frequent fast charging, can be substantial. Here are some points to consider:
- Cost Savings:
- Off-peak charging allows EV owners to take advantage of discounted electricity rates, often resulting in significant savings compared to charging during peak hours.
- For example, Appalachian Power offers about a 20% savings when charging overnight or on weekends and holidays.
- National Grid’s Off-Peak Charging Program provides an average annual savings of $100, along with a $50 enrollment incentive.
- Incentives and Rebates:
- Many energy providers offer additional incentives and rebates for participating in off-peak charging programs, which can further enhance financial savings.
- Duke Energy’s pilot program helps customers save money by charging during off-peak times.
- Impact of Fast Charging:
- While fast charging typically requires more power than regular charging, using it during off-peak hours can still yield cost savings due to lower rates.
- However, the savings might be slightly less compared to slower charging methods, as fast charging consumes more energy overall.
Overall, leveraging off-peak charging for frequent fast charging can lead to noticeable financial benefits, although the extent of the savings may vary based on specific electricity rates and charging patterns.
Original article by NenPower, If reposted, please credit the source: https://nenpower.com/blog/what-are-the-potential-financial-savings-of-using-off-peak-charging-for-frequent-fast-charging/
