Top 5 Benefits of Installing EV Charging Stations

In January, the UK registered its millionth electric car (or battery electric vehicle)! The number of electric cars in the UK is growing fast. Even with high energy prices and inflation, electric cars are expected to make up 21% of new car sales this year, adding 100,000 more to British roads. This trend underscores a significant opportunity for various businesses to adopt EV charging stations, enhancing service offerings and customer attraction.

A new law, called the Zero Emissions Vehicle (ZEV) mandate, started this January. It says that 22% of all new cars sold this year must be ZEVs. This percentage will keep increasing every year until it reaches 100% by 2035. Also, the number of EV charging stations grew by 45% in 2023, with companies like BP Pulse investing a lot in this area.

Why Your Business Should Install EV Charging Stations

Here are the top five reasons why installing EV charging stations is a good idea for businesses:

1) Attract more customers. One fifth of new cars on British roads are expected to be electric this year. This is predicted to increase each year. Having EV charging facilities can attract these customers, who will then potentially spend time and money while they charge.

2) Prepare for the future. The UK government plans to stop selling new petrol and diesel cars by 2035. The ZEV mandate means that the number of people driving electric cars will now rise every year. By installing EV chargers now, your business will keep pace with this change.

3) Earn extra money. EV drivers are willing to pay for a quick and convenient charge, which will mean extra revenue for your business. There are different ways that you can charge a fee for the use of your charger, like pay-per-use, or subscription services. According to Zap-Map, there are over 40,000 charging points in the UK, and they help businesses across various sectors earn extra income.

4) Improve your image. Having EV charging stations will help your business show its green credentials. This can make it more appealing to environmentally conscious customers. It also helps to present a modern and responsible image, which can attract positive attention and support from your community.

5) Benefit from tax savings and funding. There are tax benefits and funding options to help cover the cost of installing EV charging points:

• Tax Benefits: Businesses can claim back up to 100% of the installation costs against their profits. This helps reduce the tax burden.
• Local Funding: Some local councils offer money and incentives to help businesses install EV chargers.
• Private Funding: Some EV charging network providers will install and maintain the chargers for free. Instead of paying up front, businesses share the money made from the chargers with these companies.
• Green Loans: Banks offer special loans with good terms for projects that are good for the environment, like installing EV chargers.

By using these benefits, petrol stations can save money and make more profit.

In summary, adding EV charging stations to your forecourt is a move that brings several benefits. As more drivers opt for electric cars, having EV charging stations will help your business grow and succeed.

Ready to upgrade your business with modern energy solutions?

Contact Ingeni Renewables today to find out how our EV charging stations can boost your customer base and prepare you for the future.