One of the most common questions we hear is how to save on electricity costs when charging an EV (electric vehicle). How you charge and when you charge can make a noticeable difference on your electricity bill. This guide breaks down how to save on electricity costs when charging an EV, whether you charge at home, at work, or in a condo or commercial building.
The first step in saving money is knowing how your electricity is priced at different times and days of the week.
In many provinces across Canada, including Ontario and British Columbia, utilities use time-of-use (TOU), tiered, or Ultra-Low Overnight (ULO) pricing. This means the cost of electricity changes depending on the time of day or how much energy you consume in a billing period.
Time-of-Use (TOU): Prices differ based on the time of day when energy is used, this includes on-peak (high demand), mid-peak (moderate demand), and off-peak (low demand) hours.
Tiered pricing: A lower rate that is set for your monthly usage with a higher rate if you use electricity beyond that monthly usage.
Ultra-Low Overnight (ULO): A popular option for most residents with very low overnight rates (11PM to 7AM).
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One of the easiest ways to save on electricity costs when charging an EV is to charge overnight. Off-peak electricity rates encourage energy use when demand is low. For most EV drivers, overnight charging provides more than enough range for daily driving while keeping costs low.
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Many modern EVs and charging stations come with built-in smart charging capabilities. These features allow you to:
Schedule charging during off-peak hours
Manage power usage to prevent your electrical panel from overloading
Monitor energy usage and charging costs
Smart EV chargers are especially useful in condos and shared parking lots, where energy management and load balancing can prevent unnecessary electrical upgrades while keeping costs predictable.
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Level 3 chargers or DC fast chargers are convenient, but they’re also the most expensive way to charge an EV.
While they’re ideal for road trips or emergency top-ups, relying on fast charging for daily use can significantly increase your overall charging costs. Home or workplace Level 2 charging is far more cost-effective for regular use.
Learn more:
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For condo residents, saving on electricity costs often depends on how the building’s EV charging system is designed.
Smart condo EV charging solutions can:
Allocate power efficiently across multiple chargers with dynamic power management
Track and monitor individual energy usage accurately
Prevent demand spikes that lead to higher utility charges with scheduled charging sessions
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EV charger rebates in Canada can significantly reduce the upfront cost of installing EV chargers, especially for multi-unit residential buildings and commercial properties.
While rebates don’t directly save on electricity costs when charging an EV, reducing EV charger installation costs makes it easier to install the right charger and charging system that supports smart charging, energy management, and long-term savings.
Learning how to save on electricity costs when charging an EV comes down to a few key principles: charge during off-peak hours, use smart charging tools, and rely on Level 2 charging whenever possible.
If you’re planning on installing EV charging stations for a home, condo, or commercial property, working with an experienced EV charger installer ensures your system is designed for efficiency, scalability, and long-term cost savings.
Contact metroEV today to see how you can save on electricity costs when charging an EV with a reliable and scalable EV charging solution.
Related:
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Complete Guide to EV Charging Stations and How They Actually Work
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How Much Does It Cost To Install An EV Charger In My Condo Parking Spot?
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