Outsmart soaring electricity prices this winter: drive savings with smart EV charging!

Anders Granquist (EVP DEFA) with DEFA Power

We’ve entered a ‘new normal’ with energy prices consistently higher than before and wildly unpredictable because hourly prices fluctuate increasingly throughout the day. Charging your EV at home now requires a smart strategy. It’s not just about plugging in; it’s about timing your charge to outwit these fluctuating prices. Get ready to play the energy-saving game.

“In just one year, you could be counting hundreds of Euros in savings, possibly even covering the entire cost of your charging station. And the best part? It’s all thanks to a feature that is completely free,” says Anders Granquist, Executive Vice President of DEFA.

Go against the current when charging your car

If you’re new to economizing on home EV charging, a good starting point is to adjust your charging schedule. Traditionally, charging your electric vehicle overnight, ideally after 21:00 and stopping before 08:00 AM, has been an effective method. This is because energy prices generally spike during the busy morning rush starting around 08:00 and then again from 16:00 until late in the evening, as households ramp up their energy usage.

However, this conventional approach of simply charging at night isn’t the most efficient strategy anymore. In today’s dynamic energy market, you need something more sophisticated – an advanced smart charging program. Such a system does more than just charge your car during off-peak hours. It actively monitors the energy prices for the next day, choosing the most cost-effective hours for charging based on when you need your car ready and how much charge it requires.

“Being economical doesn’t mean following the majority of EV owners who come home from work and plug in their cars. We’ve analyzed thousands of transactions and found that most people charge their cars between 4 PM and 9 PM, just when the prices hit the roof”, says Anders Granquist.

Slash your electricity bills with smart tech – save hundreds of Euros

PowerSmart EcoMode

An EV driver who owns a home charger will use this 85 % of their vehicle charging needs. This adds up to a hefty 2,400 kWh every year. Switch to EcoMode, and you’re not just charging – you’re charging smart and saving money.

Imagine shaving off 2,2 Euros for every charge. This month (January) you could be pocketing an extra 18 Euros based on prices so far this year. And when you hit the end of the year? Based on an annual average, you’re looking at least 132 Euros in potential savings.

If you drive a lot and clock in 45,000 kilometers annually, like many drivers do in the Nordics, EcoMode isn’t just saving you pennies; it’s virtually paying for your entire charging station in nearly one year.

“This isn’t just a tip; it’s a financial hack for the wise EV owner. Get ahead of the game, cut down your electric bills, and watch the savings roll in with smart charging!”, says Anders Granquist.

So, what’s the solution? If you have DEFA Power, you can activate EcoMode in the PowerSmart feature within the DEFA Power app. EcoMode fetches current prices with estimates for the next 24 hours from NordPool, allowing you to charge when the spot prices are at their lowest. It’s free, all you need to do is activate the function.