Are EVs still cheaper to run in 2025? We break down the real costs — from electricity vs fuel to insurance, tax, and charging options — and solutions that could save you even more.
(Adobe Stock, 2025)
💸 Are Electric Vehicles Still Cheaper to Run in 2025?
The promise of saving money is one of the biggest draws of switching to an electric vehicle. But with rising energy costs and new vehicle prices climbing, many drivers are now asking: Do EVs still make financial sense in 2025?
The short answer? Yes — but it depends on how and where you charge.
Let’s break it down.
⚡ Electricity vs Petrol: A Clear Winner?
Even with higher energy prices, charging an EV at home or via peer-to-peer is still significantly cheaper than fuelling a petrol or diesel car.
- Average petrol cost (2025): ~£1.55 per litre
- Average EV cost per kWh (home charging): ~25p–35p
- Average cost per mile (EV): 6–9p
- Average cost per mile (petrol/diesel): 14–19p
Over a year, that can mean hundreds of pounds saved, especially for long-distance or daily commuters.
Tip: Charging at home or through peer-to-peer platforms is often 2–3x cheaper than rapid public charging.
🧾 Tax, Servicing & Maintenance: EVs Come Out Ahead
- Road tax applies to EVs in 2025, but rates tend to be lower than for petrol/diesel vehicles
- Fewer moving parts = lower servicing costs
- No oil changes, timing belts, or exhaust repairs
- Government grants (still available in some areas) for charging equipment
These savings, combined with fuel cost advantages, can still add up to £300–£800+ per year, depending on your vehicle and driving habits.
🛡️ What About Insurance?
This is where EVs can feel more expensive. In 2025, EV insurance premiums are still slightly higher than for traditional cars — though the gap is closing.
Why?
- Specialist parts
- Fewer repair centres
- High up-front vehicle value
That said, if you’re charging affordably and maintaining your EV well, you’ll still likely come out ahead financially over 3–5 years of ownership.
⚠️ Public Charging Can Eat Up Your Savings
Here’s the catch: If you rely on public rapid chargers, EV savings drop significantly.
- Rapid charging rates in 2025 can be 50p–80p per kWh
- That puts costs close to, or even higher than, petrol per mile
- Add queues, time delays, and network unreliability — it’s not ideal
That’s why home charging — or peer-to-peer charging in your local area — makes all the difference.
(Adobe Stock, 2025)
🔄 How Peer-to-Peer Charging Keeps Costs Low
If you can’t install a home charger (like more than two-fifths of UK homes), using a peer-to-peer charging platform is the next best way to save.
- 📍 Charge at someone’s driveway near you
- 💷 Often priced well below public networks
- 🧍♂️ Built-in flexibility, no subscriptions or hidden fees
- 🌍 Supports local communities and makes EVs more accessible
You’ll get all the home-charging savings — without needing a driveway of your own.
🧮 Bottom Line: Yes, EVs Save You Money — If You Charge Smart
EVs still offer a strong financial advantage in 2025 — but how much you save depends on where you charge.
If you:
✅ Charge at home or through a peer network
✅ Drive regularly (or for work)
✅ Take advantage of EV incentives and smart tariffs
…then you’re likely to save £1,000–£1,500 per year or more compared to a petrol car.
🚀 Want to Save Even More? Try Peer-to-Peer Charging Today
Whether you’re locked out of home charging or just want cheaper, flexible charging options, peer-to-peer platforms like Power Now are a game-changer.
Join the growing network of EV drivers charging smarter, cheaper — and together.
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