As the world moves towards reducing our carbon footprint and cutting emissions, more people are opting to buy an electric vehicle (EV). According to heycar, new EV registrations were 76.3% higher than the year before with 190,727 new electric cars sold in 2021. You’ve probably started to see the increase yourself in the number of people driving EV’s and you may even know someone who has one.
The cost to install EV chargepoints can seem daunting and businesses do not always have the capital to pay in one lump sum. However, there are electric vehicle chargepoint installers who are partnered with financial companies that enable you to spread the cost of your chargers, making it easier and more achievable. For example, Trent Vehicle Charging have partnered with maf Finance Group to give our commercial clients the opportunity to make this worthwhile investment.
If your business is thinking about installing electric car chargepoints, now is a good time as there are many benefits of workplace EV charging including financial benefits, supporting your employees, and reducing your businesses carbon footprint.
Government OZEV workplace charging grant
The government are currently issuing grants towards the cost of electric vehicle chargepoint installations. Businesses can receive up to £350 per socket for up to 40 sockets. Therefore, a potential saving of up to £14,000. Businesses can apply for the grant here. If you are approved, you will receive a voucher which is valid for 6 months. The voucher will need to be sent onto your EV chargepoint installer who will then deduct the amount off the cost of your installation.
As of 1st April, the government expanded the scheme to help more types of businesses with their workplace EV charging. Landlords of commercial properties can now apply for a workplace grant. If eligible, landlords will receive up to £350 per socket with a maximum of 100 grants a year. See our landlord grant page for more information.
Small accommodation businesses and charities can apply for up to 40 grants for chargepoints that can be used by either guests or visitors.
Other financial savings
Businesses can make savings on vehicle running costs. It is cheaper to run an electric car than a traditional petrol or diesel vehicle. You can make savings on car maintenance and with some electric cars, there is no road tax to pay. Your employees will pay less tax with the company car benefit in kind if they have a low emissions vehicle. Plus, if your business has a company fleet, then you could also be eligible for Enhanced Capital Allowances which allows you to increase the amount of allowance you can write down against taxable profits each year.
To top off these financial savings there is also a government grant on purchasing EV’s where you can save up to £1,500. You do not need to apply for the grant, the car dealership will include the value of the grant in the vehicle price. Here is a list of vehicles eligible for the EV grant https://www.gov.uk/plug-in-car-van-grants.
Workplace charging would bring a huge benefit to employees, as they can charge while they work and do not have to solely rely on home charging. Especially if they have to travel during the day visiting clients or running errands, they can top up at work. Charging at work would also be beneficial to employees who do not have a charger at home and depend on public chargepoints. It would save them time searching for their nearest charging station and having to interrupt their work to go and charge up or to collect their vehicle once it has been charged.
Chargepoints could become a part of your company benefits package and would be a way to retain and attract new employees. As more people are doing their part for the environment, EV chargers could be an important deciding factor for a current employee to stay or a potential employee to accept your offer of employment.
Investing in EV charging stations would not only show to your employees that you are committed to a sustainable future and doing your part to help the environment but also your customers. This will show that you are aligned in your values and may also help when winning work. Your business would be seen as a leader in sustainability and a desirable company to work with.
The future is electric, by installing EV charge points you will be future proofing your company. Your business could even purchase EV chargers that will eventually integrate with any solar panels or renewable energy you may decide to install in the future. Increasing your sustainability and reducing your carbon footprint further.
How Trent Vehicle Charging can help
We have helped many businesses with their workplace EV charging. One of our team will visit your premises for a free consultation to discuss your requirements and create a design to achieve your desired results. From this, we will provide you with a competitive quote, then supply and install your chargepoint(s) on a date that suits you. At Trent VC we also have our own in-house civils team to complete any groundworks required and we can even help you with your car park bay painting.
If you would like to talk through your EV charging options, please get in contact. You can reach us via email firstname.lastname@example.org, complete our booking form https://www.trentvehiclecharging.co.uk/book-a-survey/ or call us on 0115 978 9700.