Synergi’s data reveals EV drivers could be missing out on 236€ a year off charging costs
A new report from smart energy company Synergi has revealed novel data about how EV drivers use smart charging services in Finland. The data was gathered from thousands of smart charging sessions on the Synergi smart electricity app during 2023.
Key Findings
- The most popular EV brands for smart charging are Tesla, BMW, Volkswagen, Audi, SKODA, Mercedes Benz, Kia, Hyundai, Volvo, Renault, Jaguar and Toyota.
- From all EV smart charging users, 80% percent have a spot price contract, 16% have a fixed price contract, and 4% a demand response contract.
- The top savings for an EV driver using smart charging were 236€ or 70% off its annual EV charging costs (excluding transmission costs).
- The average smart charging session per driver is 22.3 kilowatt hours (kWh). On average, a single user has 11 smart charging sessions a month, meaning up to 245,3 kWh powered through smart charging.
- The average time drivers plug in their chargers in the Synergi app is between 18:30 and 20:30. After plugging in the charger, smart charging begins four hours later, when prices are lower and there is more electricity in the market.
- 40% of EV smart charging drivers use a Schuko charger with an average charging power of 3.6 kW.
Helsinki, Finland (29 February 2024) –Finland is predicted to have 1.5 million fully electric cars by 2040. This new electrification demand will bring challengesto the grid, energy providers and distributors over time.Synergi’s latest “Finland EV Smart Charging and Optimisation Report 2024 “addresses some challenges and opportunities for energy providers and their customers.
- Fixed-price contract users need the motivation to use electricity efficiently:79.8% of EV smart charging drivers have spot-price electricity contracts, and 16.5% have fixed-price ones. Users with fixed-price contracts are not typically motivated to switch consumption to the cheapest hours, as they do not benefit from that. Meanwhile, drivers with spot-price contracts can immediately benefit from savings on their electricity bills. However, both can help balance the grid.
- Energy providers can shift attitudes toward spot price contracts with digital solutions: Through Synergi, the savings for the most engaged EV driver in 2023 was 236€ for the year or 70% off its annual EV charging electricity costs. This driver smart charged 7200kWh, or the equivalent of powering the yearly consumption of an electricity-efficient detached house in Finland. EV drivers with spot price contracts not using smart charging services are losing out on considerable savings.
- EV smart charging can help balance the electrical grid:According to research, EV drivers in Finland plug in their vehicles to charge right after work or from 16:00 onwards when the charging peak begins. This behavior can become problematic over time as sudden demand peaks can overload the grid. With Synergi, despite the most common plug-in times being between 18:30 and 20:30, the charging usually begins four hours later and only until electricity demand has decreased.
- Energy providers can help equip customers with suitable charging tools:Synergi’s data reveals that many EV drivers still use traditional Schuko chargers, with an average charging power of 3.6 kW. However, those with three-phase home chargers charge at 11 kW, offering better opportunities for cheaper charging hours. Energy providers can expand their services beyond electricity contracts to offer a more comprehensive experience. For instance, they could explore cross-selling energy devices, like charging boxes, to enable cost-effective charging solutions for their customers.
Going green is expensive and manual for consumers. This is especially true when there aren’t enough rewards or simple solutions to help devices work better and save money, says Antti Hämmäinen, CEO & Co-founder at Synergi. Based on our 2023 data from smart charging users, Finnish energy companies have a great chance to explore how hardware and software can be used together to meet the needs of a more online-oriented customer.
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About Synergi
Backed by Lifeline Ventures, APX, and Wave Ventures
Synergi is a Finnish technology company accelerating the transition toward sustainable energy sources with smart software solutions tailored to businesses and consumers.
With Synergi, energy companies can offer turnkey smart electricity management to their customers. Synergi handles everything from hardware connections to optimizing electricity consumption, reward programs for end-users, customer service, and more. As a result, their customers enjoy the benefits of smarter electricity usage, and their business improves customer satisfaction and increases revenue.
Kim Oguilve