Is Your Business Eligible for Fully Funded EV Charging Point Installation?

by | Oct 31, 2023 | Guide

In the UK, the transition to electric vehicles (EVs) is rapidly advancing, because of this businesses are keen to support this green revolution by installing electric vehicle charging points on their premises. However, for many businesses supplying the suitable charging power for their customers would create a very costly project and can be out of budget for them. Creating the big question: “Can I get my EV charging point installation fully funded?”

 

The answer is not a simple yes or no, but below we will be speaking about the different options available to you as a buissness.

 

OZEV Grants

There are a variety of different grants currently available to help with this exact situation. These grants are aimed at businesses and landlord to support the installation of EV chargepoints for their staff, customers or tenants. Under this scheme, businesses can receive financial support for the purchase and installation of EV charging equipment. Here’s what you need to know:

 

Business Eligibility:

There are a variety of different eligibility criteria that you must meet in order to be eligible for the grant/s. Some of the main ones are:

  • Your business must have off-street parking available for the charging equipment.
  • Your business premises must not have met the limit for this grant or any other grant scheme for the same charging points.
  • The charging equipment must be for use by your business, your employees, or your customers.
  • The installation must be completed through an OZEV approved installer.

 Financial Support:

The OZEV grants available can cover up to 75% of the total cost of the charging sockets or £350 per socket. Whichever comes first. The maximum one business can claim of these grants is 40 sockets for workplaces and 100 per year for landlords. To find out if youre eligible for one of these grants click here.

 

Infrastructure Grants

As well as the OZEV grants currently available there is an infrastructure grant available to small-medium buissness to save even more on their installation costs for EV chargepoints. To be eligible for the infrastructure grant you need to meet the following criteria:

Business Eligibility:

  • Small-Medium Size Buissness
  • Works to be completed for at least 5 parking bays
  • Your business must have off-street parking available for the charging equipment.
  • The charging equipment must be for use by your business, your employees, or your customers.

 

Financial Support:

The financial support you can receive from the infrastructure grant is more extensive than the OZEV grants. The infrastructure grant covers up to 75% of the cost of the work or up to £350 per socket as well as up to £500 per parking bay that receives the supporting infrastructure necessary for the installation for the chargers. The price cap for this grant is £15,000 for 5 sites on 5 separate grants.

 

Alternative Funding Opportunities

As well as the Government grants currently available, there is also a range of other methods to receive your chargepoint installation in a manner to better suit your buissness, a few options are listed below.

 

Corporate Sponsorships:

If you are already in partnership with a larger organization it may be worth speaking to the organization around EV charging and them funding this opportunity for you. Weather fully or partially, with these types of agreements you can offer charging revenue as a selling point (See how you can monetize your charging here). This type of partnership can help both groups involved, allowing you to offer charging to your staff/ customers while the funder receives the benefits of the charging tariffs at a cost agreed by both sides. While also allowing for the possibility of utilizing this partnership in marketing.

Crowdfunding and Community Support:

Many smaller communities across the UK have a dedicated following and the companies in these areas become part of this tight-knit community overtime. Especially when it’s a smaller buissness. In these scenarios you can reach out to your local community for help with covering the cost of these installations. Allowing for free or low-cost charging in return. This can not only help offer charging to the community but can also help bring EV driver over to these more rural areas. See empowering rural communities blog here.

 

Corporate Funding

If none of these options seem feasible for you a corporate funder may be what youre looking for. These types of partnerships usually have to be done through a third party (Like Us!). Each funder will have different requirements for funding projects around EV charging. Generally, though these partnerships are for projects £100,000+, with faster chargers. These funding opportunities will have contracts that cover the specifics and usually the funder will take over the charger’s land and receive all the profit off the charger for a set amount of time. This can help you install sufficient charger and power upgrades as well as supplying chargers to your staff/ customers. Most funders will take over the entire project handling maintenance, issues and running costs allowing you to encourage more eco conscious customers to come to your buissness.

 

Conclusion

No matter the type of charging solution you’re looking for, for your business there are a large range of funding opportunities that can help you achieve this goal more easily. But is important that you understand the terms and requirements to receive any of these funding options. If you want to explore which of these options may be best for your charging needs enquire now to see how we can help you on your journey.

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