How Much Does It Cost to Install an Electric Car Charger?
In early January 2024, the Zero Emission Vehicle (ZEV) Mandate finally became law, committing Great Britain to a 100% zero-emissions path for new vehicles sold by 2035. Fortunately for cost-conscious property owners, ZEV commitments will be scaled up gradually, with an initial target of 22% for British electric vehicle (EV) sales in 2024. This target seems highly achievable, with the EV leasing company DriveElectric estimating a 19% share in total vehicle sales for EVs this year.
For property owners, integrating an EV charge point into their premises is going to become more important as Britain heads closer to the 2035 deadline. Safe EV charging point installation isn’t just a matter of making your home relevant in an EV-dependent Britain; it's also a practical necessity that helps bring up property values, usually well above installation costs.
How Much Does It Cost to Install an EV Charger at Home?
Typical home charger installations can cost anywhere from £800 to £1,500, before factoring in government grants and subsidies. If you have a property with an older electrical system, you may have to spend more to upgrade it before installing an EV charge point. For eligible installations, you can apply for an Office for Zero Emission Vehicles (OZEV) Chargepoint Grant to bring down home installation costs by up to £350. Be sure to find a local EV charger installer near you that offers transparent costing to keep your budget in check.
What's Involved in the EV Charger Installation Process?
Once you choose an OZEV-approved installer you can usually contact them for a complimentary site survey. The survey team will take a look at your property’s electrical system and provide an installation plan along with a breakdown of expected costs. The team is also going to examine your EV or ask questions about EVs that you plan to acquire so that they can provide more tailored recommendations.
Benefits of Installing a Home EV Charger
If you already have an EV or are planning to buy one soon, home chargers will allow you to save money and maximise their use. Purpose-built chargers will bring an EV to a full charge several times faster than a regular electrical outlet, all while extending its battery life. Importantly, properly installed EV chargers can boost your property’s value, making it more desirable in a landscape that favours electric vehicles.
What Affects the Cost of an Electric Car Charger Installation?
EV home charging point installation costs are largely dependent on the specific charger model you order and the renovations needed to accommodate your preferred charger model within your garage. All other things being equal, chargers with more features tend to cost more compared to simpler models. The actual installation costs can be highly variable, depending on needed upgrades to your home’s electrical system. Customised installations, such as underground cabling or additional electrical panel work, may incur extra expenses.
What EV Charger Government Grants Are Available?
If you live in a flat or a rental accommodation, you may be entitled to claim £350 off the cost of an EV charging point and its installation through the EV Chargepoint Grant that replaced the old Electric Vehicle Homecharging Scheme (EVHS). If you run a business, charity, or public sector organisation, you can see if you’re eligible for the Workplace Charging Scheme (WCS) to enjoy a subsidy of £350 per socket.
How Much Does It Cost to Charge Your Electric Car?
The Office of Gas and Electricity Markets (OFGEM) started applying a domestic unit energy price of 28.62p per kWh starting on January 1, 2024. However, EVs being charged through approved charge points can enjoy significantly lower rates during set off-peak hours. This means that, for a car with similar battery performance to a Tesla 3, charging costs amount to about 8.7p per mile at standard rates or 3.2p per mile at off-peak rates. These costs will, of course, vary depending on your EV and its running condition.
Home Charging Costs vs. Public EV Charger Costs
While home charging is generally more affordable than using public charging stations, it's essential to consider both options. Public charging costs vary, and factors such as charging speed, location, and service provider influence the expenses. Public charging is convenient for longer journeys and when home charging is not an option.
Bring Convenience to Your Home with On-Site EV Charging
Property owners who are planning to purchase a new EV in the next few years can rest assured that installing a home charge point is the correct choice. Even at higher cost estimates, installing a home EV charger should save you thousands of pounds in vehicle running costs, all while adding to your property’s value. With a better understanding of the costs associated with installing a home EV charge point, you’ll save even more and have your property truly ready for a zero-emissions future much sooner.