Islands make perfect EV habitats, and the state of Hawaii is rapidly getting charged. To encourage off-peak charging, the Hawaiian Electric Companies offer special time-of-use (TOU) electric rates. The new EV Bill Savings Estimators give residential customers an online tool to estimate how much money they can save by driving electric.
With a recent electric bill in hand, a customer can input data to calculate the amount of savings from using the TOU EV rate, which 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 between 9 pm and 7 am.
A typical customer with an EV can save about 30 percent on fuel costs by using the standard residential rate. The TOU EV rate yields an additional 15 percent savings for O’ahu customers charging an EV at home.
“Plug-in electric vehicles are key to a clean energy future for Hawai’i,” said Jim Alberts, Hawaiian Electric Senior VP. “EVs can help reduce our dependency on imported oil, reduce greenhouse gas emissions, and save customers money in the process.”
Source: Hawaiian Electric Companies