The Benefits of EV Charging Points

By 2020, the number of EV’s on Britain’s roads is expected to top the 1 million mark.

The market grew by in excess of 19% in 2018, but there is work to be done – the 16,500 charging points available needs to be increased quickly, to account for such growth. Experts have indicated that a further 80,000 charging points will need to be installed through the course of 2019, in order to match the demand.

Statistics are showing us that electric vehicles are becoming ever more popular on Britain’s roads. Since the Government have set out their plans for a greener Britain, demand for such products has risen. Their initiatives have sought to increase the sales for electric vehicles, and they’ve declared that the sale of all new petrol and diesel vehicles will be banned by 2040. As such, the market for EV’s has become fiercely competitive.

EV charging points could have a substantial benefit to your business, with many of those advantages not being fully recognised or appreciated. Whether you’re looking to install workplace charging stations, or indeed destination ones – there are a number of positives that such an initiative could bring:

• Saving on vehicle costs and tax. Benefit in Kind tax is something that many employees are subjected to. However, with EV’s – this can be reduced by up to 86% for company vehicles. Furthermore, with an EV fleet, businesses can save over 6p per mile.
• Increased revenue through selling electricity. If an EV driver stops at one of your charging points, your business can charge for the electricity they use. You can also retain a profit on what the driver pays.
• Bringing new custom to your business. With an EV charging point based at your office, you’ll attract drivers of electric vehicles as they’ll need to charge their cars. The amount of time they spend with you is also likely to increase too, as it takes time to charge.

In addition to these (and other benefits), the OLEV (Office for Low Emission Vehicles) offers a Workplace Charging Scheme. This scheme is designed to help businesses with the upfront costs associated with installing a new workplace charging station.

In order to be eligible – you must have off-street parking, have a need to install a charger, and have it installed by an OLEVL approved workplace charger supplier. However, once approved – the grant can be used to reduce costs by up to 75%, with up to 20 charging stations able to be claimed on the scheme.

Utility Trade Group can help you to save (and generate) money with EV charging points today. Get in touch to find out more.