Electric vehicles: good for the planet – and your pocket?
We look at the government grants for going green with an EV
Lots of us are thinking about switching from petrol or diesel to an electric vehicle (EV). But how much will an EV cost to buy and to run? Will it work out much more expensive – or will the lower running costs of an EV mean you actually end up saving money?
When working all that out, one big thing to think about is the value of the government grants on offer. These are pretty generous, because the UK government wants more and more of us to go electric – and the sooner the better.
EV grants and incentives, at a glance:
- Up to £300 towards installing a home charging point
- As much as £350 more for home chargers in Scotland
- Special EV electricity tariffs to keep running costs low
Government grants for electric car charging points
Having your own charging point is a game changer for EV drivers. It makes it very simple to keep your EV charged overnight – and also helps you use greener, cheaper energy.
If you live in a flat or rental property, you could be eligible for the EV chargepoint grant. This offers up to £350 off the cost of installing an EV chargepoint at home. You’ll need dedicated off-street parking, and to use an authorised installer.
You can find all the info you need on the OZEV grant here.
And there’s more (but only if you’re in Scotland)
For people in Scotland, a grant of up to £300 is available if they live in rural areas or if they buy a used electric vehicle. This grant is funded by Transport Scotland and administered by the Energy Savings Trust. You can find out more on their website.
Some useful terms to understand
Government grants for EV charging points can get a bit confusing, mainly because of all the different acronyms flying around. Hopefully this little explainer helps!
- OZEV is the government department that pays out the grants – the Office for Zero Emission Vehicles
- OLEV is what that department used to be called – the Office for Low Emission Vehicles
- EVHS is the name of the OZEV grant for getting a charging point at home – the Electric Vehicle Homecharge Scheme
- WCS is the OZEV voucher scheme for businesses and organisations installing charging points – the Workplace Charging Scheme
Special tariffs for charging your EV
If you’ve spent years filling up with petrol or diesel, the running costs of an EV will come as a nice surprise.
We’ve worked out that EV drivers can expect to pay £4 per 100 miles, compared to £14 per 100 miles for the same-sized petrol or diesel car. You can read more about it in this British Gas article looking into the numbers.
On top of that, British Gas has a special tariff for EV drivers that helps you make the most of cheaper off-peak electricity between midnight and 5am. Get the latest information on the EV tariff here.
So that’s the current state of play with incentives for EV drivers. Are they enough to persuade you to make the switch? We certainly think they’ll help increase the numbers of EVs on the roads in the years to come – and that’s got to be great news for the planet.