With the number of public electric car charging points growing in 2019 by 60%, it’s clear that electric cars are on the rise and here to stay. But can adding a charging point to your home actually make you money?
A study by Co-op Insurance revealed that nearly a third of respondents believed properties without a facility to charge an electric car will less valuable in the future. In light of this new research, Drewlec, part of the Bournemouth-based Drewitt Group, is preparing for the growth of its electric vehicle charging point installation service.
The news comes as the automotive industry faces economic challenges as a result of the COVID-19 outbreak. However, the electric vehicle market is expected to weather the storm in the coming months and continue to grow.
Drewlec launched its new service in 2019 and has recently been approved as an authorised installer of electric vehicle charging points by the Office for Low Emission Vehicles (OLEV).
Richard Drewitt, managing director of Drewlec commented: “The UK government continues to invest in its efforts to create a zero-emission future. It’s not surprising, but still great to see, that electric vehicles are becoming an even more popular choice for people looking to buy a new car.
“We appreciate that the move from traditional petrol or diesel vehicles can be daunting and therefore our teams are dedicated to helping clients through this decision and the installation process. We’ve already worked with a number of local clients to install electric vehicle charging points at home, as well as guiding several business clients in installing sockets at their premises. As an OLEV approved installer, we are also able to apply for government grants for the charging points on behalf of clients.”
Research released by Co-op Insurance noted that the technology was quickly becoming a “must have” for house buyers and, as the property market enters a period of uncertainty, Drewlec recommends the installation of electric vehicle charging points to futureproof a property’s value.
Richard said: “There are many varieties of electric vehicle charging points and choosing the right charging point for your driving needs is important in ensuring your day to day requirements are met. However, it is also worth considering that the electric vehicle charging point will be likely to add value to your home in years to come and therefore selecting a unit that suits the property should also be kept in mind.”
The increasing demand in home installations matches that seen in businesses. Richard commented: “Business owners are beginning to invest in electric vehicle charging points to not only retain value in their owned premises but also to ensure parking facilities meet the growing requirements from staff and visitors.
“In a fast-developing market, Drewlec can give impartial advice on all options available and provide the right solution for you without being tied to one manufacturer.”
Drewlec has launched a dedicated webpage for the installation of electric vehicle charging points to funnel demand and provide customers with the correct information they require.
Figures from the Society of Motor Manufacturers and Traders (SMMT) reveal more than 120,000 ‘alternatively fueled vehicles’ have been registered in the UK in the last year– a 22 per cent increase on the same period last year.
As the number of electric cars on UK roads increases, the charging infrastructure needs to improve quickly to support them and the partnership between Volkswagen and Tesco will see the number of public charging bays increase by 14 per cent.
The initiative, which allows the majority of electric car owners – not just Volkswagen drivers – to charge their cars for free, has been welcomed by both the government and the WWF.
Jesse Norman, the Minister for EVs at the Department for Transport, said: “The government is committed to making the UK the best place in the world to build and own an electric vehicle. For that we need high quality infrastructure in place to support ultra-low emission vehicles around the country. The government set out plans in its Road to Zero strategy to deliver a significant increase in this infrastructure and we welcome Tesco’s pledge to roll out over 2,400 new charge bays across their stores.”
Gareth Redmond King, Head of Climate Change, Environmental Policy & Advocacy, at WWF, added: “Businesses need to decide if they are preparing for a ‘net zero’ world or for climate breakdown. Tesco has clearly made its decision and is going full throttle in its commitment to transition to a low carbon future. It’s this ambition and determination that makes us excited to partner with Tesco as we work together to make sustainable choices easier for all. One of the big challenges to EVs is that people worry about where they’re going to charge their cars – this roll-out goes a long way to tackling that issue. It will make it easier for everyone to reduce their impact on the planet and we hope that others will follow where they lead.”