Electric vehicle (EV) drivers are failing to capture the financial savings or reductions in carbon emissions from EV ownership, according to new findings from Good Energy.
The renewable electricity company’s research found that reducing carbon emissions and pollution is the most common motivation for people to choose an electric vehicle, cited by 48% of them, alongside saving money (also 48%).
But despite 71% of EV drivers having special off-peak electricity tariffs for low-cost charging, they are not getting the benefits.
Many energy suppliers claim to provide 100% renewable electricity through Renewable Energy Guarantees of Origin (REGOs), which are often traded via a secondary market, meaning suppliers can source energy from fossil fuel sources, and buy certificates as 100% renewable.
Good Energy analysis of the Matched Clean Power Index reveals that of 11 electricity providers offering specialist EV tariffs, seven provide renewable electricity 33% of the time or less. According to the Index, some providers of EV tariffs provide renewable electricity 0% of the time. Good Energy has a score of 88% renewable energy across 0.4 TWh of consumption.
Current regulation only mandates suppliers to match the total volume of renewable electricity certificates (REGOs) to the total annual electricity consumption, which means consumers may be using fossil-fuel electricity at lower renewable production times, the firm said.
The new findings also suggest that many EV drivers are needlessly wasting money, it added. At least 15% of drivers aren’t using EV tariffs, meaning they are missing out on off-peak savings. A further 7% didn’t know what kind of tariff they used.
According to the research, other motivations for people to choose an EV include the convenience of being able to charge at home rather then visiting petrol stations (35%); performance benefits such as acceleration and quiet driving (26%) and the ability to access low-emission zones without incurring charges (23%).
Donna Slater, Head of Propositions and Pricing at Good Energy, said:
“Electric vehicle drivers are motivated by environmental concerns and financial savings, but many of them are missing out on both. There is a large disparity between the best and worst rates on the market if they want to capture the benefits of charging their car off-peak.
“And there is an even bigger disparity between the providers genuinely buying renewable electricity from generators, and those relying on a system using certificates and middlemen that can enable energy suppliers to buy most of your power from fossil fuels and sell it to you as ‘100 per cent renewable’.
“Our new EV tariff is for motorists who want peace of mind that their electricity is as renewable as it can be under the available infrastructure, and be able to charge their car overnight as cost-effectively as possible.
“Customers deserve more transparency around how suppliers source renewable electricity, which is one of the major roadblocks preventing British households and businesses from being able to play an active part in our net zero ambitions.
“We’d like the Government to mandate a much higher level of transparency so that people and businesses can be assured that choosing a green supplier helps to create a greener energy system.”
