As the electric vehicle industry becomes more widespread and popular, government grants are slowly becoming less generous.
The focus of government support is becoming narrower. They are concentrating on ensuring the UK has the infrastructure to support the industry, such as public charge points and battery manufacturing. As a result of this shift in public funds, the grants for the public buying EVs and buying chargers for their homes are starting to reduce and stop.
Although this is a positive move for the industry, it has negatively impacted people who want to make the environmental and financial decision to get an EV.
On the plus side, EVs and charge points are more affordable than ever. The technology is developing so fast that manufacturers can’t make new cars quickly enough.
The Home Charge grant was a fantastic initiative set up by the UK government to incentivise homeowners to get EVs. The grant was originally for £500 off the cost of installing an EV charge point at their home, therefore making it more affordable to set up certain types of EVs.
This grant was then decreased to £350. This is partly because the market became more competitive and the technology cheaper, but also as it become more popular it meant the grant money could be spread across more people.
The grant is now closing for homeowners as of 31st March 2022. The industry is so popular and widespread now so it doesn’t need to be supported by government grants. EV ownership in the UK went up by 76% in 2021 – this number is expected to double year on year.
The OZEV hasn’t completely closed the Home Charge grant. If you are a landlord, in social housing, or in apartments then you can still apply. This is to booster up places that don’t have as much uptake on charge points. Businesses can also benefit from certain OZEV grants.
Having a charge point on your property as a landlord is a fantastic selling tool, as it won’t be long before tenants start to expect them as standard. Charge points rarely fault, so maintenance and upkeep costs will be low.
We are still accepting Home Charge applications until 31st February, the installation needs to be done by the 31st March to qualify for the grant. Even if you don’t have access to the grant, we would be happy to help, our pricing is competitive and fair. Get in touch today!
To check your eligibility for the most recent OZEV grant changes, complete our quick online quiz.