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Discussion Starter · #1 ·
This past week my local electric utility introduced Time-of-Use rates and provided a Rate Comparison Calculator. Now I can utilize my ChargePoint Flex home charger to schedule recharging the C40 during the time (12:00AM to 6:00AM) when electric rates are the lowest. I know many other utility companies have been offering Time-of-Use rates for years, but in New Hampshire this is important!

Seems each week I discover more reasons to love EV ownership.
 

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2022 Volvo C40 Fjord Blue Pure Electric Recharge Ultimat
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This past week my local electric utility introduced Time-of-Use rates and provided a Rate Comparison Calculator. Now I can utilize my ChargePoint Flex home charger to schedule recharging the C40 during the time (12:00AM to 6:00AM) when electric rates are the lowest. I know many other utility companies have been offering Time-of-Use rates for years, but in New Hampshire this is important!

Seems each week I discover more reasons to love EV ownership.
Good stuff! More power to EV owners if you will! 😎🙌🔥☝
 

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I have a time-of-use plan as well through PECO in Philadelphia In my case I had to be sure to factor in the distribution charges ($0.06460/kWh) and transmission charges ($0.00580/kWh):

time of usecost per kWh (supply+dist.+trans.)
peak
(2–6 PM, non-holiday weekdays):
0.27801
off-peak
(6 PM–midnight, 6 AM–2 PM)
0.11831
super off-peak
(midnight–6 AM)
0.10234

So we also have the car charge starting at midnight. But the real third-rail situation is the weekday peak time between 2 and 6PM.

Our house has gas appliances (sorry, Earth) but it has two central AC units that would obviously be the primary offenders during peak time. So what I did was program the house to stay at a reasonable cool temperature all through the night and morning, and then drop down a couple degrees for an extra chill between 1 and 2PM. Both systems then shut off completely until 6PM. I wasn’t sure how it would work come summer, but fortunately the house is able to coast through those 4 hours very comfortably (good insulation).
 

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This is probably a tl;dr post, but I did some cost calculations and estimates for a couple friends of mine who are curious about getting an EV. Pasting here because it relates to the cost of charging and ownership.



I was running some cost numbers for our electric car — thought it might be of interest to those who are thinking about an EV in the future.

COST OF USE
Sumedh drives a total distance of 52 miles on his daily commute.

After his commute to and from work yesterday, it took 15.6 kWh of electricity, costing $1.60, to charge his EV (a 2021 XC40 Recharge) battery to its prior state.*

If he were to take our wagon (a 2020 V60 Cross Country) on that same trip, I estimate that it would have taken 1.69 gallons of gas, at a cost of $8.40 (based on our average consumption over the past two years and today's price of gas at Cherry Hill Costco, where I fill up).**

VARIABLES
EVs get better range in warm weather than in cold. For instance, in the month of February, this commute would have consumed approximately 22 kWH of electricity, which would cost us about $2.25 to replenish. Currently, we charge our XC40 Recharge exclusively at home (we have not taken it on long road trips that would require charging at public stations, which vary in price from free to between $0.40–0.70 per kWh).

Daily fluctuations in the price of gasoline, coupled with quarterly fluctuations in the price of electricity and seasonal changes in electrical consumption, make it difficult to pin down exactly how much less expensive the EV is in daily operation. I estimate that the EV usage costs between 20–40% the cost of a comparable ICE car, depending on the above variables.

COST TO PURCHASE
Our XC40 Recharge is an electrified version of a gas-powered XC40, which is handy for comparison purposes. Specifically, the equivalent internal-combustion engine (ICE) version of his car would be the XC40 R-Design T5 with Advanced Package and Climate Package.

We paid a total of $15,440 more to get the EV instead of the equivalent ICE with the same packages and features.

We were able to claim a $7,500 tax credit for the EV on our 2021, which brought to total difference paid down to $7,984.

BREAK-EVEN POINT?
Over the course of the past 11.5 months, we have driven the EV about 13,700 miles, so I am going to estimate 14,300 miles driven per year.

Volvo's turbo engines require a minimum of 91 octane; our local Costco only has 87 and 93, so we use 93. I do not have a granular source for local 93 octane gasoline prices over time, but according to AAA statistics from a year ago, 93 octane gas in NJ has ranged from an average of $3.72/gallon a year ago to $5.40/gallon this week (with a higher spike in between), and I am going to spitball an average of $4.50/gallon for the year. This is undoubtedly a bit off but I imagine it's within a reasonable ballpark.

Using that estimate, driving my V60 wagon (with the same T5 engine as the ICE XC40 and comparable consumption statistics), 14,300 miles would have consumed approximately 463 gallons of gas, at a cost of approximately $2,230.

If 93 octane gas were to continue to average $4.50 per gallon, it would take 2.7 years of additional usage (3.7 years total) to break even on the added expense of the EV over the ICE model vehicle.

If 93 octane gas were to fall back to $3.72 a gallon, it would take a total of 3.6 years of additional usage (4.6 years total) to break even.

We tend to keep our cars for quite a few years, and elected to factory warranty the EV for 10 years/120,000 miles (the battery system is under its own warranty for 8 years/100,000 miles). In our predicted period of ownership, we suspect that we will make up the cost difference perhaps twice over. EVs require relatively little maintenance (essentially tires, brakes, cabin air filters and wiper blades).

footnotes:
* We are on a "time of use" rate plan from our electricity provider, PECO. The car charges itself when the electricity rate is the cheapest, between midnight and 6 PM when the rate is $ 0.10234 per kWh (including supply+distribution+transmission). In this plan, we pay the highest rate on weekdays from 2–6PM. We programmed our house to go into a low-power mode during this time. Our AC is set to significantly cool the house prior to 2PM and then shuts off until 6PM. Fortunately, our house is well-insulated and is able to maintain a comfortable temperature over that interval. Switching to a time-of-use plan has reduced our monthly electricity cost for cooling.

Details of this plan are below:
time of use cost per kWh (supply+dist.+trans.)
peak (2–6 PM, non-holiday weekdays):
$0.27801
off-peak (6 PM–midnight, 6 AM–2 PM)
$0.11831
super off-peak (midnight–6 AM)
$0.10234

** I calculated the cost of driving my V60 with the measured consumption lifetime average reported in its computer of 30.9 mpg, and today's price of 93 octane gas at Cherry Hill Costco of $4.99 per gallon.
 

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Discussion Starter · #5 ·
Our house has gas appliances (sorry, Earth) but it has two central AC units that would obviously be the primary offenders during peak time. So what I did was program the house to stay at a reasonable cool temperature all through the night and morning, and then drop down a couple degrees for an extra chill between 1 and 2PM. Both systems then shut off completely until 6PM. I wasn’t sure how it would work come summer, but fortunately the house is able to coast through those 4 hours very comfortably (good insulation).
Interesting how you developed a method for utilizing your AC while also reducing your electricity cost. Impressive job!

My utility implemented a different approach. First, they encouraged purchasing Nest thermostats with rebates. Then they encouraged sign-ups for their program called “Energy Rush” which takes place from 4:00P to 7:00P on select days when energy usage is high. You are notified several hours in advance via the Next app on the selected day. Prior to 4:00P the utility takes control and adjusts the Nest thermostat to precool at 72 degrees. At 4:00P the AC is adjusted to 78 degrees and held at that temperature until 7:00P. At 7:00P they return your temperature to your preferred setting. At any point you can override the automation, but that would affect your pay out. Yes, if you go along with the program the utility deposits money into your bank account. My most recent payment totaled $200.00. Nice!

I may also investigate programming additional savings based on your approach. Thank you!
 

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Discussion Starter · #7 ·
Who is your provider if you don’t mind me asking? I’ve been trying to get Eversource to pay attention to this for a year now in NH.
I have Unitil as my provider. It is my understanding Unitil has both NH and MA customers, but the Time-of-Use rates are for NH customers only.
 

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I live in Northern California and would kill for some of your rates. I have PG&E, who when not busy burning down the state or lobbing the CPUC for rate increases offer a Electric Vehicle Plan. You need to provide your EVs VIN number to qualify for. It and is a time of use plan.

$0.24699 Off Peak 12am - 3pm
$0.44901 Part Peak 3pm - 4pm and 9pm to 12am
$0.55950 Peak 4pm - 9pm
 

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In Minnesota, Xcel Energy has an "EV Accelerate" program where you buy and install a ChargePoint Home Flex or Juicebox through the program and it's setup so that the charger is on a time-of-use rate while the rest of the house is on the standard rate, which is around $0.11 all day during the summer months. The off-peak rate under the program is $0.03 while the peak rates are higher than the standard rates. We have the C40 on this and only charge it during off-peak hours (12AM~6AM), so it works out pretty nicely.
 
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I have Unitil as my provider. It is my understanding Unitil has both NH and MA customers, but the Time-of-Use rates are for NH customers only.
This is good to know -- I have Unitil as my provider.

I currently am leasing an XC90 T8, so I am just charging on the supplied granny charger.

I'm thinking of either buying a V60 T8 -- all the PHEV things of the XC90 with a bigger battery and a smaller package (I've owned mostly wagons), or I may go full BEV and will check out the C40. If I go with the C40 then the time of use rates would be interesting as long as I don't have to buy into the whole Nest thermostat part of it.
 
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Discussion Starter · #12 ·
This is good to know -- I have Unitil as my provider.

I currently am leasing an XC90 T8, so I am just charging on the supplied granny charger.

I'm thinking of either buying a V60 T8 -- all the PHEV things of the XC90 with a bigger battery and a smaller package (I've owned mostly wagons), or I may go full BEV and will check out the C40. If I go with the C40 then the time of use rates would be interesting as long as I don't have to buy into the whole Nest thermostat part of it.
The Nest thermostat is a separate program. They are not linked together in any way.
 

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The Nest thermostat is a separate program. They are not linked together in any way.
Cool, that's good to know. I will have to think about a slightly smarter EVSE then that can have times programmed in.

I research computer security issues and I don't have any IoT devices in the house. (IoT is Internet of Things in case anyone reading this is not in the computer world. For example, Nest devices, Alexa devices, etc. are all IoT devices.)
 
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This past week my local electric utility introduced Time-of-Use rates and provided a Rate Comparison Calculator. Now I can utilize my ChargePoint Flex home charger to schedule recharging the C40 during the time (12:00AM to 6:00AM) when electric rates are the lowest. I know many other utility companies have been offering Time-of-Use rates for years, but in New Hampshire this is important!

Seems each week I discover more reasons to love EV ownership.
Love those discounted rates, here in GA I also get 400kWh of free juice between 12am-6am every months. In the last year of EVs we have driven over about 8000 miles and spent less than $140 on electric rates. That is less than $0.02 a mile.
 
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I live in Northern California and would kill for some of your rates. I have PG&E, who when not busy burning down the state or lobbing the CPUC for rate increases offer a Electric Vehicle Plan. You need to provide your EVs VIN number to qualify for. It and is a time of use plan.

$0.24699 Off Peak 12am - 3pm
$0.44901 Part Peak 3pm - 4pm and 9pm to 12am
$0.55950 Peak 4pm - 9pm
I don't know how you people can afford to live out there. I am sure it is beautiful, but

My rates:

$0.045 12am-6am (and I et 400kWh free in this period every month)
$0.073 6am-1pm and 9pm to 12am
$0.135 1pm - 9pm
 
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This is probably a tl;dr post, but I did some cost calculations and estimates for a couple friends of mine who are curious about getting an EV. Pasting here because it relates to the cost of charging and ownership.



I was running some cost numbers for our electric car — thought it might be of interest to those who are thinking about an EV in the future.

COST OF USE
Sumedh drives a total distance of 52 miles on his daily commute.

After his commute to and from work yesterday, it took 15.6 kWh of electricity, costing $1.60, to charge his EV (a 2021 XC40 Recharge) battery to its prior state.*

If he were to take our wagon (a 2020 V60 Cross Country) on that same trip, I estimate that it would have taken 1.69 gallons of gas, at a cost of $8.40 (based on our average consumption over the past two years and today's price of gas at Cherry Hill Costco, where I fill up).**

VARIABLES
EVs get better range in warm weather than in cold. For instance, in the month of February, this commute would have consumed approximately 22 kWH of electricity, which would cost us about $2.25 to replenish. Currently, we charge our XC40 Recharge exclusively at home (we have not taken it on long road trips that would require charging at public stations, which vary in price from free to between $0.40–0.70 per kWh).

Daily fluctuations in the price of gasoline, coupled with quarterly fluctuations in the price of electricity and seasonal changes in electrical consumption, make it difficult to pin down exactly how much less expensive the EV is in daily operation. I estimate that the EV usage costs between 20–40% the cost of a comparable ICE car, depending on the above variables.

COST TO PURCHASE
Our XC40 Recharge is an electrified version of a gas-powered XC40, which is handy for comparison purposes. Specifically, the equivalent internal-combustion engine (ICE) version of his car would be the XC40 R-Design T5 with Advanced Package and Climate Package.

We paid a total of $15,440 more to get the EV instead of the equivalent ICE with the same packages and features.

We were able to claim a $7,500 tax credit for the EV on our 2021, which brought to total difference paid down to $7,984.

BREAK-EVEN POINT?
Over the course of the past 11.5 months, we have driven the EV about 13,700 miles, so I am going to estimate 14,300 miles driven per year.

Volvo's turbo engines require a minimum of 91 octane; our local Costco only has 87 and 93, so we use 93. I do not have a granular source for local 93 octane gasoline prices over time, but according to AAA statistics from a year ago, 93 octane gas in NJ has ranged from an average of $3.72/gallon a year ago to $5.40/gallon this week (with a higher spike in between), and I am going to spitball an average of $4.50/gallon for the year. This is undoubtedly a bit off but I imagine it's within a reasonable ballpark.

Using that estimate, driving my V60 wagon (with the same T5 engine as the ICE XC40 and comparable consumption statistics), 14,300 miles would have consumed approximately 463 gallons of gas, at a cost of approximately $2,230.

If 93 octane gas were to continue to average $4.50 per gallon, it would take 2.7 years of additional usage (3.7 years total) to break even on the added expense of the EV over the ICE model vehicle.

If 93 octane gas were to fall back to $3.72 a gallon, it would take a total of 3.6 years of additional usage (4.6 years total) to break even.

We tend to keep our cars for quite a few years, and elected to factory warranty the EV for 10 years/120,000 miles (the battery system is under its own warranty for 8 years/100,000 miles). In our predicted period of ownership, we suspect that we will make up the cost difference perhaps twice over. EVs require relatively little maintenance (essentially tires, brakes, cabin air filters and wiper blades).

footnotes:
* We are on a "time of use" rate plan from our electricity provider, PECO. The car charges itself when the electricity rate is the cheapest, between midnight and 6 PM when the rate is $ 0.10234 per kWh (including supply+distribution+transmission). In this plan, we pay the highest rate on weekdays from 2–6PM. We programmed our house to go into a low-power mode during this time. Our AC is set to significantly cool the house prior to 2PM and then shuts off until 6PM. Fortunately, our house is well-insulated and is able to maintain a comfortable temperature over that interval. Switching to a time-of-use plan has reduced our monthly electricity cost for cooling.

Details of this plan are below:
time of use cost per kWh (supply+dist.+trans.)
peak (2–6 PM, non-holiday weekdays):
$0.27801
off-peak (6 PM–midnight, 6 AM–2 PM)
$0.11831
super off-peak (midnight–6 AM)
$0.10234

** I calculated the cost of driving my V60 with the measured consumption lifetime average reported in its computer of 30.9 mpg, and today's price of 93 octane gas at Cherry Hill Costco of $4.99 per gallon.
I have done similar calculations for us as well, and with my electric rates we had figured around 30K miles, I need to update that based on current gas prices, but it is clearly moving in our favor.
 

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This is my typical summer usage pattern. This is my report from last week.

I spend about $5 a week on that peak time. The AC shuts off at that time and the draw really comes from the fridge, basement freezer, and my outrageous little "data center" I have in my office closet.
 
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I will have to think about a slightly smarter EVSE then that can have times programmed in.
There are a couple nice open source projects that might fit your bill.

 
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