In recent years, electric vehicles (EVs) have gained popularity due to their environmental benefits and cost-saving advantages. One Tesla owner, Tom from Ludicrous Feed, shares his personal experience of how owning a Tesla Model 3 and Model Y in Australia has saved him hundreds of dollars in petrol costs each month. In this article, we'll delve into Tom's analysis of his charging expenses and compare them to the costs of driving an equivalent internal combustion engine (ICE) vehicle. We'll also explore the recent electricity price changes in Australia and discuss the importance of choosing the right electricity plan for EV owners.

Analysing Charging Costs for Tesla Model 3

Tom starts by examining the charging costs for his black Tesla Model 3 rear-wheel drive with an LFP battery. Since taking delivery of the car in late May 2023, he has accumulated a total of 522 kilowatt-hours (kWh) of charging, resulting in a mere $42 in expenses. The breakdown shows that 41% of the charging was done at home, 43% at Tesla Superchargers (utilising existing supercharger credits), and the remaining 16% at other locations. Tom highlights that if he had driven an equivalent petrol-powered vehicle, he would have spent $366 on petrol, compared to the minimal $42 spent on charging. This represents a significant savings of $324.

Tom's average cost for charging at home was approximately nine cents per kilowatt-hour, while supercharging cost him nothing due to the accumulated referral credits. The breakdown of his home charging shows that 75% was done during the super off-peak hours from midnight to 4 am, which had a cost of around 7.5 cents per kilowatt-hour. Tom acknowledges that the charging cost data is based on the default rate of 27 cents per kilowatt-hour for public charging, as the Tesla app does not differentiate between different public charging costs. Despite this limitation, Tom emphasises the substantial savings he has achieved with his Tesla Model 3.

Examining Charging Costs for Tesla Model Y

Moving on to Tom's analysis of his wife’s Tesla Model Y, which they have owned for a longer period, he reveals even more impressive savings. Over four months, he has charged a total of 985 kilowatt-hours, resulting in an expenditure of only $53. In comparison, driving an equivalent petrol vehicle for the same distance would have cost him $806. The savings amount to a remarkable $753.

Tom's breakdown of the Model Y charging shows that 58% was done at home, 31% at Tesla Superchargers, and 11% at other locations. The average cost for home charging was again around nine cents per kilowatt-hour. Similar to the Model 3, a significant portion of the home charging (75%) was done during the super off-peak hours, where the cost was approximately 7.5 cents per kilowatt-hour. Tom's analysis reveals the undeniable economic advantages of owning an EV like the Tesla Model Y.

Considering Recent Electricity Price Changes

Tom acknowledges that electricity prices in Australia increased on July 1st, 2023. This prompts him and other EV owners to assess whether they are still on the most cost-effective electricity plan. To help with this evaluation, Tom introduces a comprehensive spreadsheet created by Roland from the ZappedAU YouTube channel. The spreadsheet compares electricity plans from major retailers in New South Wales, taking into account both summer and winter data. It provides an insightful tool for individuals to determine if they are still on the best energy plan for their specific situation.

Tom further highlights a website called "Energy Made Easy," run by the Australian government, which allows users to upload their power bills or enter their National Meter Identifier (NMI) to obtain personalised energy data. By inputting their postcode, suburb, and household size, users can compare electricity and gas plans and receive estimated costs from major retailers. Tom demonstrates this process and discovers that his current plan with Powershop is relatively favourable, ranking among the top options suggested by the website.

Conclusion

Tom's experience as a Tesla owner in Australia demonstrates the substantial financial benefits of driving an electric vehicle. By comparing his charging costs to potential petrol expenses, he showcases savings of hundreds of dollars each month. Tom's analysis serves as a testament to the cost-effectiveness of owning a Tesla Model 3 and Model Y, thanks to their efficient electric drivetrains.

Additionally, he emphasises the importance of staying informed about changes in electricity prices and selecting the most advantageous energy plan. Through the use of the Energy Made Easy website, EV owners can evaluate their current plans and explore alternative options to maximise their savings.

Tom concludes by encouraging viewers to do their research and consider switching to electricity retailers with competitive rates and favoruable EV charging plans. He also shares his referral link for Powershop, which offers a super off-peak rate of 9.59 cents per kilowatt-hour, ideal for charging EVs during designated low-cost periods.

As the transition to electric vehicles continues, stories like Tom's highlight the economic advantages and environmental benefits that EVs can offer.