“The Government could put the brakes on EV sales by binning the home charging grant” according to Loveelectric
Steve Tigar (pictured), entrepreneur and CEO of loveelectric, the new ethical fintech which makes low-cost electric car leasing a reality for employers and their workforce, comments on the government’s plan to stop the grant for home EV charging points in the spring.
Steve Tigar says:
“The government is stopping the Electric Vehicle Homecharging Scheme (EVHS) on 31 March 2022. I think this is a big mistake.
“The government’s own figures[1] suggest four in five electric vehicles (EV) are charged at home because it’s cheaper and more convenient. If we want people to embrace EV ownership, now is the time to promote incentives like the EVHS, not stop them.
“The EVHS is great because it offers up to £350 or 75% towards the cost of a charging point. That’s a significant help to encourage people to adopt an EV. I’m concerned stopping the EVHS might slow the take-up of environmentally friendly cars.
“The grant has been going since 2016, but I don’t think regular homeowners have really been able to benefit from it. First, EV sales are only really taking off now. Second, we spent so much time in lockdown during 2020 that the grant wasn’t required.
“New car sales are down in 2021 because of the computer chip shortage. I’m concerned this, combined with stopping the EVHS, risks losing the valuable momentum in EV sales that has been building.
“We want to make 2022 the year to switch, not the year to delay.
“But drivers can still enjoy the best of both worlds if they act swiftly. Salary sacrifice schemes like loveelectric’s help employers provide their workforce with a new EV. And it can halve the cost of owning an EV for employees.
“If drivers want to do that and take advantage of a cheaper home charging point, they must get their EVHS orders in by the beginning of February. Typically, there’s a five-to-six-week lead time so it’s essential to get organised in January.”
[1] HM Government: Electric Vehicle Charging in Residential and Non-Residential Buildings
