Not too long ago, you’d be hard-pressed to find many convenient EV charging points in the UK. These days, there are over 34,000 EV chargers for public use across the nation.
The trend is clear: EV adoption is on the rise. Whether it’s commercial EV charging points or at-home installations, we’re looking at a future where ICE vehicles are in decline. The economic and environmental impact of cleaner systems like solar power is hard to deny.
That said, what is the benefit for you as a property owner? Comprehensive EV charging infrastructure is our soon-to-be future, but it comes with a cost.
In this guide, we’ll discuss how you stand to benefit from EV charger installation.
EV Chargers Come with Government-Funded Incentives
The UK leadership has tried to make it easier for those investing in clean energy, such as solar panels. They do this in the form of tax subsidies or reimbursement for installation costs. If you instal EV chargers, there is the potential to recoup your installation costs by up to 100%.
The same benefit extends to business owners. This assumes they provide commercial EV charging points or points to all employees in a building. Then, they are eligible for partial EV charger funding.
Tax incentives often only serve to break even. What makes them really enticing, though, are the secondary benefits–such as the impact on property values.
They Increase Property Values
Landlords are constantly on the hunt for budget-friendly ways to increase property values. Renovations are often the first target. Rebuilding the kitchen or repainting the home can add a significant amount to its value.
Many landlords fail to consider the impact of having in-house EV charging. It’s pretty easy to see why. Every year, thousands upon thousands of people are purchasing electric vehicles. Those same people are looking for homes that have an EV charger already.
Electric vehicles take a long time to charge without a dedicated charging point. Installing one can be costly, and may not be an option for renters. You make your property very competitive if it’s forward-thinking with a charger.
They Could Be an Additional Revenue Stream
Because of the increased consumption of electricity, some owners may opt to bill their tenants a small fee to use the charger.
A recent phenomenon has been collective charging networks. They comprise owners of home chargers who rent them out to others besides the residents. People drop by to charge their vehicles and pay its owner for the privilege.
It’s very easy to join one of these charging collectives. Depending on how many people use your charger, there could be a sizable chunk of pocket change. Best of all, it requires practically no effort on your part aside from normal everyday maintenance.
Install a Charger Today
EV chargers are not just the way of the future. They are the way the electric vehicle market and International Energy Agency are headed. Property owners of both residential and commercial properties can gain considerable benefits by installing a charger.
Eightcube can help you instal an EV charger on your property. Visit our website and see how you can benefit from our clean, green future.
