Electric car grants make the electric car even more affordable than you might think...
Across Europe, sales of electric vehicles are surging. These cars offer a more eco-friendly alternative to petrol and diesel vehicles, but does buying an electric car save money?
If you’re interested in joining the growing number of drivers switching to the electric car, you’ll be happy to hear that doing so can save you a significant sum of money.
There’s the appeal of saving money on fuel when compared with a petrol or diesel car, plus drivers could benefit from a discount on the cost of an electric car charging point at home.
This is thanks to the electric car grants put in place by the UK government.
As part of a wide-ranging approach to incentivising a switch to low carbon technologies, the UK government has set the objective of becoming the first major economy to be net zero emissions by 2050.
Is there a grant to buy an electric car?
Previously, there were grants available to help motorists buy a new electric vehicle, such as the Plug-in Car Grant. However, the government has turned their focus to helping drivers with the cost of charging their EVs. Current EV charging grants include:
OZEV Grant
For any low-emission vehicle, there's a government grant that offers up to £350 towards the cost of having a home charging point installed. Provided by the Office for Zero Emission Vehicles (OZEV), the grant is available for qualifying low-emission vehicles, ranging from cars and vans to motorcycles and mopeds, provided you have off-street parking.
The charging station installation must be carried out by an OZEV-approved installer and is typically completed in just two-to-three hours. Charging at home brings convenience and peace of mind, as it gives motorists the ability to start every journey from home with the battery ready to deliver its maximum range. Best of all, you don’t have to do anything to receive this contribution toward having a charging point installed, as your OZEV-approved installer applies on your behalf.
Electric car vs Petrol car: Cost of running and savings
In recent years, all cars have become more efficient and less polluting. However, despite these innovations, electric cars can still offer significant savings when compared with the cost of fuelling a petrol car.
Take the latest e:Ny1 as an example. It uses the very latest technology to give drivers the best possible efficiency on the road and provides all the style, creature comforts and safety standards that motorists want. But the lower cost of electricity versus petrol is one of the most attractive benefits to cost-conscious drivers.
By contrast, the Honda e:Ny1 returns an EV operating efficiency figure of 18.2 kWh/100km. This means switching to an electric car could reduce your bills by hundreds of pounds compared with even the most efficient petrol equivalent.
LOW EMISSION VEHICLES ARE EXEMPT FROM THE LONDON CONGESTION CHARGE
As of 25 October 2021, only battery electric vehicles are eligible for an exemption from the London Congestion Charge.
Considering it costs £15 a day without the exemption, you could save £5,460 over a year if driving into London every day. Or £3,810 if driving into the capital five working days a week.
FIND OUT MORE ABOUT CONGESTION CHARGING EXEMPTIONS AND DISCOUNTS
ON-STREET RESIDENTIAL CHARGEPOINT SCHEME
While the OZEV Grant is available to those with off-street parking only, those with on-street parking may be interested to know of the On-street Residential Chargepoint Scheme.
Also offered by OZEV, this government scheme provides up to £7,500 (or 60% of the cost) towards a chargepoint installation and is available to local authorities. Residents wanting to find out how to charge an electric car on the street can make a request to their local authorities for an on-street chargepoint and associated dedicated parking bay.
WORKPLACE CHARGING SCHEME
It’s not just at home that you can make savings.
Electric car subsidies extend to the workplace with the possibility of claiming as much as £350 for an electric car charging station at a business. Known as the Workplace Charging Scheme (WCS), it allows for a reduction in the cost of both the purchase and installation of a new workplace electric charging station. Of course, it also helps employees and visitors save on fuel costs.
This government scheme offered by OZEV allows businesses to claim up to 40 sockets, which could see 20 or 40 charging stations permitted, depending on whether they offer dual or single use.
Applying for the WCS is straightforward but must be done in advance of any installation. That’s because successful applicants receive a voucher code which you must present to an OZEV-approved installer within 120 days.
MOTABILITY SCHEME
Another electric car incentive in the UK is the Motability Scheme.
This provides people who have a disability with an allowance towards the cost of a new electric car. Claiming the Motability Scheme is simple. You can do this by choosing an eligible vehicle, speaking to Motability Scheme specialists at your local car retailer, and then having them place your order. Your specialist will be able to advise you on which electric cars are available on the Motability Scheme.
DO ELECTRIC CARS HAVE GREEN NUMBER PLATES?
The UK government is investing in low emissions vehicles to help navigate the route to a net-zero carbon economy by 2050.
One interesting development is the introduction of number plates which indicate a zero-emission vehicle. These number plates have a green flash on the left side of the plate and are fitted to the front and rear of the vehicle. This allows drivers to celebrate their switch to a low-emission vehicle and according to the government, it could also unlock a host of incentives for motorists.
Credit: Gov.uk
Experience the difference of electric motoring
It’s clear that in the current climate and with all the available incentives, there is an ever-growing interest among drivers who want to make the switch from petrol or diesel fuel to a more sustainable energy source.
To reduce your driving bills and experience the environmental benefits that electric cars such as the Honda e bring – as well as the outstanding driving experience. Arrange a test drive or speak with your local Honda retailer about the advantages of going electric.
FAQs
Do all-electric cars have green number plates?
Since their introduction in December 2020, green number plates are fitted onto all new electric vehicles. If you bought your EV before this date, you can purchase the plates from your nearest approved supplier.
Are electric cars better for the environment?
Yes, electric cars are better for the environment as they emit fewer greenhouse gas emissions than petrol and diesel vehicles. Purchasing an EV charger car could help you lower your carbon footprint and allow you to do your bit for the environment, as well as reduce your driving costs.
When does the government grant for electric cars end?
The Plug-in Car Grant, which offered motorists up to £1,500 towards the cost of their EV (as long as it was priced below £32,000), was brought to an end in June 2022. However, you can still reduce your EV running costs by applying for one of the government’s EV charger grants.
