EV Uptake and Changes to OZEV Funding
The recent fuel shortages saw UK electric car inquiries soar during fuel supply crisis, with google reporting a 1,600% spike in searches for EV cars on September 24.
Combined with the growing consumer confidence in EV cars ( 32,721 Battery electric vehicles joined the road in September 2021 – the best monthly performance ever reported Society of Motor Manufacturers and Traders) and various recent incentives to stimulate the new EV market, there really hasn’t been a better time to switch to EV and save money!
Why now?
The Government has introduced various incentives to stimulate the new EV market. These incentives include favourable company car tax rates until 2024–25 and £582 million to extend plug-in grants for new electric vehicles until March 2023.
The Government has also committed £1.3 billion to the roll-out of charging infrastructure, including: £950 million for charge points along motorways and key A-roads; £275 million for homes, workplaces, and on-street charging; and £90 million for local infrastructure (to be launched by Summer 2022).
Changes to the funding criteria announced on World EV Day from Electric Vehicle Homecharge Scheme (EVHS) and Office for Zero Emission Vehicles (OZEV) outlines new plans to how more businesses can unlock funding.
So, what are the changes?
In short, the extended Workplace Charging Scheme (WCS) will allow landlord, housing providers, small accommodation businesses such as B&Bs, campsites, as well as commercially let properties for staff or fleet use of current or future business tenants to apply for more or new funding.
Electric Vehicle Homecharge Scheme (EVHS) that delivers the OZEV (Office for Zero Emission Vehicles) grant will continue until 31 March 2022. This means people with a qualifying electric vehicle who live in a residence with off-street parking will have up to this date to receive £350 towards the cost of a chargepoint and installation.
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