On March 31, 2022, the OZEV grant ends for homeowners, bringing an end to the £350 EV charger installation subsidy.
What this means is simple – homeowners will not pay £350 more for their EV charger, increasing the average cost by around 40%.
It means if a charger would have cost £799 before, it will now cost £1,149, a significant jump that could make EV chargers unaffordable.
Why is the grant ending?
The grant is ending because the UK Government’s OZEV fund has run dry. They initially allocated millions to it, but faster than expected EV adoption means the fund has been used up. This spells the end for homeowners.
However, the OZEV grant lives on for landlords. Landlords, and private tenants, will be able to get OZEV installations from March 31, 2022.
So, the Government has pulled the plug on homeowners and opened the door to the rental sector, a shift that will diversify EV charger installations.
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