Electric Vehicle Savings Estimator Available Online
By Maui Now Staff
Residential customers who own or are considering the purchase of an electric vehicle now have access to a new tool to estimate how much money they can save by using special time-of-use EV charging rates offered by the Hawaiian Electric Companies.
EV Bill Savings Estimators and instructions are accessible at:
“Plug-in electric vehicles are key to a clean energy future for Hawai‘i,” said Jim Alberts, Hawaiian Electric senior vice president for customer service. “EVs can help reduce our dependency on imported oil, reduce greenhouse gas emissions, and save customers money in the process.”
Estimator versions are available for:
- customers enrolled in the current TOU EV rate
- customers enrolled in the standard (non-TOU) residential rate, called Schedule R
- customers enrolled in the standard (non-TOU) residential rate with a rooftop solar system under a Net Energy Metering agreement.
Using a recent electric bill, any customer can input data to discover the amount of savings from using the TOU EV rate. The calculation is based on individual factors, such as actual household electricity use.
Under the TOU EV rate schedule, the cost per kilowatt-hour for home charging varies, depending on the time of day.
For example, the O‘ahu TOU EV rate provides a discount of about 6 cents per kilowatt-hour for electricity consumed during off-peak hours–9 p.m. to 7 a.m.
Customers can charge vehicles at any time, but rates are higher during other hours.
A typical customer with a battery electric vehicle can save about 30 percent on fuel cost by
using the standard residential rate to charge at home compared to a non-electric vehicle fueled
at the gas pump (based on a gas-fueled vehicle that gets 25 miles per gallon).
When applying the TOU EV rate, the estimator will show an additional 15 percent savings for O‘ahu customers charging an EV at home.
The new savings estimators are part of the Hawaiian Electric Companies’ support for electrification of transportation that includes the discount TOU charging rates and company-owned fast chargers.
Go online for more about EVs and how to sign up for TOU rates for EV charging.