Electric Car Market in UK: Budget, Consumption and Future Trends

This report examines the financial aspects of electric car adoption in the UK, focusing on cost-effectiveness and electricity consumption. It investigates whether electric vehicles present a cheaper alternative to fuel-based cars, considering factors like initial purchase price, charging costs, and potential savings on road tolls and parking. The report analyzes the increasing registration of electric cars in the UK and its impact on national electricity consumption, projecting future electricity demand from EVs. It references various sources to compare the running costs of electric and gasoline cars, emphasizing the government's promotion of electric vehicles and the potential for significant cost reductions. The report concludes that owning an electric car in the UK can be a cost-effective choice, both for personal finances and environmental benefits, while also acknowledging the increasing demand on the national electricity grid.

ASSIGNMENT
(Electric cars budget entering
mainstram)

Table of Contents
INTRODUCTION...........................................................................................................................3
MAIN BODY...................................................................................................................................3
CONCLUSION................................................................................................................................5
REFERENCES................................................................................................................................7

INTRODUCTION
The electric cars are found to be an alternative for the fuel and protection of the
environment from the harmful emission form the cars in UK. With passing time the use of
electric car is increasing in UK which indirectly enhancing the electricity consumption of the
nation here a question arises that is the use of electric car as an alternative is cheaper or
expensive and on an average how much electricity is consumed by the electric cars. In the
present report the focus is kept on answering above question form taking reference form the
already written literature over similar topic of the report.
MAIN BODY
Electric cars are used by the citizen of UK to prevent the environment from the emission
of harmful gases by the flue based cars. In the electricity vehicle are available in the commercial
markets from several years. At present there are 212000 plug in vehicles are registered in UK
which includes more than 10000 plug in vehicles in the commercial use. Every year the
registration of the electric car in UK is increasing (Rim and Mi 2017). With an average number
of 4500 electric vehicle registration on a daily basis the number of electric vehicles in increasing
which is directly presenting the fact that the consumption of electricity with rise in number is
automatically increased.
The electricity consumption with the increased use of electricity have enhanced and the
rate of cost unit at per kilowatt at the end of each month is likely to increase the cost to those
who are driving electric cars. As per electricity plan implemented in Southern California Edison
where the electric car were sold and had a triple tier consumption based basic monthly plan for
the users who were resident of that area. In the starting the rate was 18 cent per Kwh and this
raised to 37 cent by the month end. There were six different plans for the use of cars and as
mostly used in day time, late afternoons and early evenings where the cost were more and they
were charged more for electricity consumed in that hours.
The emerging increased use of electric vehicle is one of the hot topic for the discussion in
the nation over discussing he future of the electric cars. The announcements have been made in
the recent time in UK. It is estimated that by 2050, 2/3rrd of the cars on the road will electric one
and form this the demand of electricity will directly increased by 35-45 Tws every year and this
constitute of 9-11% of the total electrify demand at that time (Sun and et.al., 2019). This means
that in the present time the burden of the electricity consumption it can not be seen clearly but in
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the future the situation can lead top to put burden on the electricity department over distribution
and generation of electricity at 10-15% of the national consumption will only be incurred on the
electric vehicles. In the UK since 2011 the government is promoting the use of electric cars and
till 2018, registration have increased to more than 2 million cars and this has put burden on the
electricity consumption of the nation.
At present the cost of an electric car in UK is £30,000 and for this the costumers is
required to pat a fess and the running cost is much lower than the car which run of fuel. The
prime reason for them being cheap is that charging cost of the car is much lesser than the prices
of petrol as a car driver is not required to the fuel station again. The cost of using an electric car
reduced by ¼ for per mile drive this means that the cost of running an electric car is just one
forth as compared to the cost of running a fuel vehicle per mile. At present the normal range of
electric car in London is £14000 which can rise up to £100000.
The cost of charging electric vehicle varies depending on the vehicle, local electricity
rates, and driving habits, but on average, an electric vehicle driver will pay just 25–50% of what
they would pay in a comparable gasoline vehicle (Electric cars are already cheaper to own and
run, says study, 2019). The average cost of electricity in the UK is12 cents per kWh. Therefore,
the average person driving the average EV 15,000 miles per year pays about £540.00per year to
charge it.
The electricity consumption by electric cars in UK is 34Kw for 100 miles. The cost of
electricity per Kw is about 4 cents and this gives a lesser cost to run an electric car as compared
to a gasoline car in UK. On an average en electric car required a total of 40KW to get fully
charges its depleted battery and with a rate of 18 cents per KE it cost up to £7.2. This means to
Purchase car electric car can not prove to be a burden on an electric Car user. The electric car
user can also be benefited from decreasing road toll and parking charges. They just need to be
confident that there are adequate charging points (The True Cost of Powering an Electric Car,
2019). It focused on depreciation and fuel costs and also found electric cars were cheapest:
electricity much is less expensive than petrol or diesel.
The electric cars are cheaper to own and operate compared to the petrol or diesel
alternative vehicles in the UK for vehicles. The fuel cost are too high the the cost of running an
electric car. This means to own a electric car in UK is a good idea rather for running a flue based
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vehicles as it is directly control the cost and expenses of the car used and reduces burden on their
pockets.
For charging a car overnight the cost for six hours roughly amount to £5.60 which
provide enough electricity to run to 140 miles. To run over 1000 miles the cost amounts to £410
or 4.1 pence each mile with an average cost of 14pense per KW hour. The electric car user in UK
is quite cheaper options for the users as compared to the petrol/diesel based cars as the
purchasing cost is lower and the running cost s too low as well. The number of owning electric
car in UK is increasing with a rapid pace and by the end of 2050 it is assumed that 10-15% of the
total electricity consumption will be directly allocated to electric cars which is too high as the
usage will directly diversifies from the exiting usage of electricity in UK (Revealed: a guide to
the cost of electric cars, 2019). This means that for the personal use there i not burden on buying
an electric car and the cost of maintaining and ruining it, is also too low when compared with
other fuel based car operating in UK.
CONCLUSION
From the above report it can be stated that electric car purchasing and owning are in
current trend in the UK to cut the cost of using car as well as for protection of the environment
form harmful gas emitted from the fuel based cars. Furthermore, it has been interpreted that
Purchasing cost of car is not too high and the cars are not too expensive to be owned. This means
that the owing an electric car in UK is not too expense. As far as electricity consumption is
regarded on an average per year the consumption of electricity for electric car is increasing and
it contributes to be 9-10 % of the current electricity production of UK. By 2015 this percentage is
likely to rise by 10-15%.
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REFERENCES
Books and journals
Rim, C. T. and Mi, C., 2017. Wireless power transfer for electric vehicles and mobile devices.
John Wiley & Sons.
Sun, G and et.al., 2019. Energy-efficient and traffic-aware service function chaining
orchestration in multi-domain networks. Future Generation Computer Systems, 91, pp.347-360.
Online
Electric cars are already cheaper to own and run, says study. 2019. [online]. Available
through :<https://www.theguardian.com/environment/2019/feb/12/electric-cars-already-
cheaper-own-run-study>.
Revealed: a guide to the cost of electric cars. 2019. [online]. Available through
:<https://www.ovoenergy.com/guides/electric-cars/cost-of-electric-cars.html>.
The True Cost of Powering an Electric Car. 2019. [online]. Available through
:<https://www.edmunds.com/fuel-economy/the-true-cost-of-powering-an-electric-
car.html>.
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