Nine reasons your business should consider installing EV charge ports

EVs are the future of mobility, and there’s a big opportunity for businesses to take advantage of this growing market.

The electric vehicle (EV) market is growing rapidly. At the end of December 2021 there were more than 395,000 pure-electric cars on the UK’s roads and over 740,000 plug-in hybrid models. Last year alone saw 305,000 new EV registrations, representing a 74% rise compared to 2020.

There are several reasons for this increasing popularity. Consumers are more aware than ever before of the consequences of climate change, and EVs are becoming an increasingly affordable way of taking meaningful action on individual carbon impacts. Plus they remain tax-efficient, with a 100% write-down compared to just 18% for standard vehicles.

EVs also help to mitigate concerns about future petrol scarcity. During September 2021’s petrol crisis – where fuel stations ran dry due to a shortage of tanker drivers – interest in EVs skyrocketed. Auto Trader reports that at one point dealers were receiving direct inquiries every 1.8 minutes – almost twice the average pace in August. Meanwhile, carguide.co.uk found that online searches for electric cars in the UK rose by 1,600% on 24 September – the day the shortages became widespread.

A report by Deloitte estimates that there will be some seven million EVs on the UK’s roads by 2030, all of which will need access to charging. This represents a massive opportunity for businesses to take advantage of the benefits that come with installing an EV charge port. Here are nine reasons why your business should consider doing just that.

1. Future-proof your business

As already mentioned, EVs are set to become an increasingly common sight on our roads. And as the government has confirmed the ban of the sale of new petrol and diesel cars by 2030, EVs are set to replace traditional combustion engine vehicles entirely. Installing an EV charge point will eventually become as necessary as providing parking.

2. Gain a competitive advantage

Providing EV charging facilities sets you apart from your competitors. It shows you’re a forward-thinking business that values its staff, customers, and, crucially, the environment. Green credentials are becoming an increasingly important consideration to consumers, who will hold onto account businesses that aren’t taking action on sustainability.

3. Attract new customers

EV owners searching for a particular service may be likely to choose yours if they know they can charge their vehicles on your premises – even though EV infrastructure is expanding throughout the UK, people still have some degree of ‘range anxiety’. Additionally, people may be tempted to spend money with you that they otherwise wouldn’t spend, if it means they’re able to charge up.

4. Create awareness of your business

Once you’re installed an EV charger on your premises your business will be included on websites and smartphone apps that help drivers locate charging facilities around the country. Even if a driver chooses not to use your facilities at that point in time, knowing that you’re there may mean they visit you in the future, or mention you to other EV owners. Many of these sites allow users to leave reviews, and good reviews are the lifeblood of every business.  

5. Boost customer loyalty

Installing EV charging ports tells your existing customer base that you care about them, that you want to accommodate their needs in the future and that you’re prepared to go that little bit further to ensure their satisfaction.

6. Generate revenue

You don’t have to be an energy business yourself to make money from your investment. Charging users to plug their EVs into your mains supply can be done via coins, tokens, smartphone apps, or bank cards on a ‘pay as you go’ basis, and can help recoup some of the costs involved in installing the charge port in the first place. Then when it’s paid for itself, you benefit from an additional revenue stream.

7. Benefit staff

Providing charging facilities at work lets employees know they’re valued, and that you’re invested in their well-being. This can have a further positive green impact, as research shows that having an available car charger at work makes drivers six times more likely to switch to an electric vehicle.

8. Comply with legislation

If you’re considering expanding or moving premises, an EV charge port might be a legal requirement. In July 2019 England became the first country in the world to introduce mandatory electric car charging points for new-build homes and businesses, with the rules stating that there must be at least one charge point in non-residential buildings with more than 20 parking spaces.

9. It’s cheaper than you might think

Installing an EV charge port can cost anywhere from £800 to £1,500, depending on the type of equipment you choose. However, the government’s Workplace Charging Scheme covers up to 75% of the total costs of the purchase and installation of EV charge points, capped at a maximum of £350 per socket. The generous super-deduction tax allowance also covers EV charge points, making the investment, even more, cost-effective.

Are you considering getting EV charge ports for your business? Get in touch with our specialist advisors who will be able to guide you on everything from the technology involved to available finance options.