An interesting story has caught my eye this morning with MPs discussing the possibility of closing the gap between the 20% VAT charged at public chargers and the 5% VAT for home charging. With 30% to 40% of people without access to off-street parking and thus unable to install a home charger, this forces a huge segment of the market into the public charging network if they want to make the switch to EV - but they will be paying full fat 20% VAT.
Now of course charging is not the only hurdle to increasing EV adoption but currently when purchasing an EV to save money on running costs, the current system makes the financial benefits of EV ownership far less attractive unless you can charge it at home 95% of the time.
Check out the full article below…
“For the 30 to 40% of people that don’t have access to off-street parking in the UK, charging and the pricing around that can become a real hurdle. Price parity at home and with public charging points will help.”
Read the original article here