The UK government currently offers businesses a contribution towards workplace EV charging stations costs of £350 per charger, for up to 40 chargers. Find out more about the Workplace Charging Scheme.
The installed cost of a commercial EV chargepoint is typically £1,000 to £1,500 + VAT, depending on the charger model, communications required, number of chargers installed and the install specifics in terms of cabling, fixings and foundations etc.
If the charger is for work purposes (off-street, supplying private users of the business rather than members of the public), it should qualify for a £350 grant under the Workplace Charging scheme.
So let’s work to a net installed cost of £1150 + VAT.
Now suppose one person charges their car for 250 days a year, using 25kWh each charge. And let’s say you are able to ‘sell’ electricity to them at a profit of 4p per kWh (either charging directly per kWh, or by taking payment for charger time). So every day you make £1 profit on the charger, with total ‘gross profit’ of £250 per year.
The annual running costs of the charger will depend on the product you buy and the charger management model you adopt, but the cost is unlikely to be more than £50 per charger per year in data fees and / or time.
So overall you can make a £200 profit each year from a single chargepoint.
In other words, even with one user per day, weekdays only, the charger can pay for itself in 6 years. If two people use it per day, the payback time will fall to under 3 years.
With a 7kW charger, 25kWh requires 3 1/2 hours charge, so realistically, it’s reasonable to assume that two people will use the charger every day.
A payback time of 3 – 6 years is very reasonable, particularly as by installing a charger, you are doing the right thing from a CSR point of view, while meeting the needs of your employees.
Call us on 0118 951 4490 to discuss your project or to request a quote.
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