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Grant fund, Finance or combine both to provide residents with EV Charging now
Government grants will soon disappear. The cost of financing EV infrastructure will also increase as interest rates are heading upwards. However, some lenders are currently seeking to show 'low carbon lending' in their portfolios. Now is the time to fund your project.
Grant Funding
Ozev will fund EV charging in residential buildings for the following:
Landlords installing EV chargepoints to off street parking at a rental property : £350 per chargepoint (£850 if connecting 5 or more bays)
Anyone living in a flat or apartment block with allocated private parking:
£350 per chargepoint. (you may qualify for £850)
Rental tenants with private off street parking and with the Landlord's permission:
£350 per chargepoint. (you may qualify for £850)
Freeholders & Resident Co-owners of buildings with private residents carpark connecting at least 5 bays:
£850 per chargepoint or £500 for each bay prepared for a future chargepoint. (maximum of £30k per building)
Finance Funding
OZEV Grants won't pay for everything and those stalling to raise fundsto meet the shortfall risk missing the grants altogether. The Government have warned that grants may be withdrawn with just 4 weeks notice.
Our Finance partners will enable you to install the system you will need now, availing of all possible Government grants and spread the cost of the shortfall over 3-7 years.
Offset all your costs
The project can even end up costing nothing. Try our Project Funding Calculators to see how this combined funding approach can work for your project and how you can offset the cost of finance simply by encouraging more residents to drive electric.
Key Facts
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On average an installation valued £50k can cost £25-35 per month, per bay, or per resident. Use the Funding Calculator to plan grant funding and finance.
By adding a few pence per kWh to charging costs, it is possible to entirely offset costs over the term. Use the Offset Calculator to estimate your revenues.
This means that in apartment blocks the costs are borne by those using the chargers, while residents not charging only see an increase in their property value.
This is extremely beneficial in buildings where a few trailblazing residents are seeking to convince non EV driving residents to commit to charging infrastructure.
There are no upfront costs or personal guarantees required to apply for funding.
As a low carbon sector loan you will benefit from lower than average finance rates.
Complete your details and we'll be in touch to help you navigate the grant and finance processes.
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