Almost half of UK motorists would pay more for a home with an EV charger, suggesting access to convenient charging is becoming an increasingly important consideration for drivers.
Research commissioned by Motorpoint found that 47% of motorists would pay a premium for a property with an EV charging point. This places home charging almost level with off-road parking, selected by 48% of respondents.
The survey of 2,000 motorists found that the property features people would be most willing to pay more for were:
- Off-road parking – 48%
- An EV charging point – 47%
- Solar panels – 42%
- Lower energy costs – 42%
- A high Energy Performance Certificate rating – 33%
Demand strongest among drivers aged 35 to 44
Drivers aged between 35 and 44 showed the greatest interest in properties that could make EV ownership easier.
More than half, 54%, said they would pay more for a home with an EV charger, while 35% would pay extra for space to install one. A quarter would be willing to pay more for access to shared charging facilities.
Interest was lowest among motorists aged over 65, with 22% saying they would not pay more for any EV-friendly property features.
Motorpoint’s motoring expert Tim Rodie said the findings showed that electric vehicles were influencing decisions beyond the purchase of the car itself. Access to charging, he said, was becoming almost as important as established property features such as off-road parking.
Home charging remains cheaper despite price cap rise
The findings come as Ofgem’s energy price cap increases by 4% from 1 October. However, the average electricity unit rate for customers paying by Direct Debit will rise only slightly, from 26.11p to 26.32p per kWh.
Motorpoint estimates that an EV driver travelling approximately 8,700 miles a year in a vehicle achieving 3.5 miles per kWh would see annual home-charging costs rise by around £5.
Drivers may be able to reduce costs considerably by using an EV-specific or overnight tariff. Motorpoint estimates that charging during cheaper overnight periods could bring the average annual cost down from more than £600 to just over £200, depending on the tariff used.
For driver and rider trainers considering an electric tuition vehicle, access to reliable home charging can have a significant effect on convenience and running costs. Trainers should compare tariffs carefully and consider vehicle efficiency, annual mileage, charging losses and any installation costs when calculating potential savings.
