Unlocking the Future: UK Government Grants to Electrify Your Fleet
Switching your fleet to electric vehicles (EVs) makes good business sense, but the upfront costs of EVs and the supporting charging infrastructure can be a barrier. Fortunately, the UK Government offers generous grants and funding to support fleet electrification. From grants for home and workplace charging infrastructure to expert guidance on fleet electrification, fleet managers have access to a range of resources to facilitate the transition to EVs. Taking advantage of these can significantly reduce your costs and accelerate your EV transition.
Here are the key Government funding schemes businesses should know about:
Enhanced Capital Allowance (ECA) Scheme
The ECA Scheme is a tax incentive that allows businesses to claim 100% first-year capital allowances on investments in energy-saving and low-carbon technologies, including EV charging infrastructure. Organisations can take advantage of this scheme to offset the costs of installing EV charging points, reducing the financial burden of transitioning their fleets to electric. By utilising the ECA Scheme, businesses can accelerate their return on investment and make the switch to EVs more economically viable.
EV Chargepoint Grant
This grant, which replaced the Electric Vehicle Homecharge Scheme (EVHS) on 1 April 2022, supports the installation of EV charging infrastructure at residential properties. It covers up to 75% of the installation cost and is available for both company and employee-owned vehicles.
Plug-in Van Grant
This scheme provides a subsidy towards the purchase price of new electric vans as outlined below:
- Small vans (under 2.5 tonnes) are eligible for a £2,500 grant,
- Large vans (2.5 to 4.25 tonnes) are eligible for £5,000,
- Small trucks (4.25 to 12 tonnes) for £16,000, and
- Large trucks (more than 12 tonnes) £25,000.
Workplace Charging Scheme (WCS)
This grant covers up to 75% of the total costs of the purchase and installation of EV chargepoints (inclusive of VAT), capped at a maximum of £350 per socket and 40 sockets across all sites per applicant.
Alongside national funding, some local councils offer additional EV grants tailored to benefit local businesses. Be sure to check what may be available in your operating area.
Now you’re aware of the available grants, what’s next?
Taking the time to research and apply for relevant grants will provide a significant source of funding for your EV transition. The application process does require some administrative work, so it helps to get support from experts.
At Equans, our expert team will support you with the applications process, freeing up more of your time for daily operations. We’ll ensure you maximise government funding for your EV chargers, vehicles, and infrastructure.
Grants often operate on a first-come, first-served basis with limited budgets. So, time is of the essence. To discuss how we can assist your fleet in claiming the grant funding available, contact our team today.
With the help of Government grants and Equans’ expertise, you can make your EV transition even easier and realise the many benefits. Let’s connect to future-proof your fleet with emission-free, cost-saving electric vehicles.
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