Singapore is going electric, and as a country we’ve made a lot of progress in promoting EV adoption. The infrastructure is growing, and this is largely because Home EV charging is extremely convenient, as you have control over when and how you charge your car.

However, it does come with upfront costs, potential higher utility bills, and limitations for renters or those with limited parking. But for homeowners, it can be a good idea, and if you’re undergoing a renovation or making alterations to your home then it’s something that be incorporated into your plans.

Is EV Charging Worth It in Singapore?

Whether or not to invest in EV charging in Singapore depends on a few different factors – the cost of electricity, the availability of charging infrastructure and your own individual driving habits.

One of the main reasons to consider it is that the Singapore government has introduced several incentives such as EV Early Adoption Incentive (EEAI) and Enhanced Vehicular Emissions Scheme (VES) to encourage EV adoption. These incentives can help offset the upfront cost of buying an EV and make them more attractive than traditional internal combustion engine (ICE) cars.

Lower Running Costs

A big advantage of EVs is lower running costs compared to ICE cars. You could argue that this is less relevant in a small country like ours, but you’d be surprised at how to cost can add up. In Singapore, the cost of charging an EV is approximately S$0.50 per kWh (as of 2024), and ultimately that’s lower fuel cost per km.

EVs have fewer moving parts than ICE cars which means lower maintenance costs over time, including savings on regular servicing, oil changes and replacement of various mechanical parts.

Environmental Benefits

EVs also have environmental benefits, as zero tailpipe emissions means better air quality and reduced greenhouse gas emissions in urban areas. By driving an EV, you can contribute to reducing your carbon footprint and support Singapore’s efforts to combat climate change.

Charging Points

Singapore is expanding its EV charging infrastructure, and plans to have 60,000 charging points by 2030. But charging points availability may be a consideration for some drivers, especially those without private charging facilities at home or workplace – we usually speak about this with our clients if they’re undergoing a renovation or rebuild.

Battery Lifespan and Replacement Cost

Another thing to consider is the lifespan and replacement cost of EV batteries. EV batteries can last for several years but will eventually need replacement which can be a big expense. But as battery technology improves and production scales up, replacement cost of batteries will decrease over time.

Summary

So, EV charging is worth it in Singapore if you want lower running costs, reduced environmental impact and home charging convenience. But it’s important to factor in the upfront cost of buying an EV and charging points availability. If you’re considering including EV charging in a rebuild project, feel free to get in touch with us to discuss.