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Why should I consider installing electric car charge points at my workplace?
With the UK Government’s commitment to ending the sale of new petrol and diesel cars and vans by 2030, many businesses are considering how this will impact the workplace. In particular, employees who will drive their EV to work and expect to be able to charge their vehicle at work. To put this into perspective, there are currently around 500,000 ultra low and zero emission cars in the UK (according to the Department for Transport). With an expectation that 1 in 4 consumers intend to buy an electric or hybrid vehicle in the next 4 years (OFGEM), future-proofing your business by providing workplace charge points will be essential to keeping on a par with your competitors in the future. To make this easier, there are several Government initiatives available designed to reduce the cost of purchasing and installing workplace charge points.
What are the benefits to my business of installing electric car charging points at my workplace?
Making it convenient for employees to charge their EVs, at a low cost or for free, whilst they work is a great employee benefit. The significantly reduced fuel costs can be equated to a salary increase for employees. This is because the electricity provided from businesses via workplace charge points for employees’ own private EVs is not taxed as a benefit in kind. This means they do not have to pay tax on the value of the electricity used. This in turn promotes better employee retention.
Encouraging and supporting employees
In addition, encouraging and supporting employees to drive an electric vehicle by investing in EV charge points at the workplace, not only supports corporate and social responsibility, but can also contribute to greater employee satisfaction and create a positive brand image. According to research from PodPoint, customers and employees perceive that businesses care about reducing environmental costs if they are seen to be investing in EV chargers, not just profit.
Investing in EV charge points at your workplace is designed to be as cost effective and simple as possible, one of the major benefits being ‘enhanced capital allowances’. This is a type of first year allowance which allows a business to deduct the full cost of purchasing equipment for charging points from profit before tax.
In addition to the capital allowances there are also significant grants of up £850 towards each charge point to a maximum of £15000 per site for the installation of electric vehicle chargepoints.
It’s clear that as the 2030 government target grows closer, more people will migrate to electric vehicles. Having the infrastructure at the workplace to support this change in consumer behaviour, will be crucial to meeting employee/stakeholder expectation, reducing environmental costs and creating a positive brand image.
Is your business considering installing electric vehicle car charge points at the workplace? Do you need some advice on where to start?
Contact our expert sales advisers today for a free, no obligation quote on 0330 135 9990
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References
https://www.gov.uk/capital-allowances/first-year-allowances
