Commercial property owners now seeking to make money out of electric vehicle charging in their car parks now have access to new finance packages to help them invest in installing EV charging points into their car parks.
RAW Charging has revealed the new finance packages for electric vehicle charging installation through its new partnership with Close Brothers Asset Finance and USA-based EV charging installer, ChargePoint which operates over 72,000 points across that country, to enable companies and organisations to have smart electric vehicle chargers installed in their car parks and spread the cost of installation over five to seven years.
With the major growth of electric vehicles predicted in the UK, significant new infrastructure will be needed to meet consumer demand. RAW Charging, part of the Cirencester-based RAW Energy Group, has partnered with ChargePoint to offer a charging system which enables organisations to manage access, set pricing, monitor energy use and analyse utilisation. For some companies, upfront costs can deter them from taking the first step into smart EV charging.
ChargePoint’s offer enables site hosts and station owners to manage their charging assets. Fleet managers, in particular, can take advantage of software tools like power and energy management, as well as a portal to manage time and cost, it says.
RAW Charging’s Chief Executive, Bruce Galliford, says that businesses such as golf clubs, retail parks, farm shops, cafes and pubs are now able to drive revenue from their car park as well as attract new customers into their business. “Some businesses such as pubs or retail parks, will want to offer free, or low cost charging for customer’s electric vehicles to encourage them to stay longer. Others will seek to drive revenue through providing such a service.”
Many cities in the UK are restricting commercial vehicles from entering certain zones based on their emissions. Close Brothers Asset Finance is predicting a significant rise in the take up of electric commercial vehicles, which creates a significant opportunity for businesses to increase the charging infrastructure.
RAW Charging is part of the RAW Energy Group, which is amongst the UK’s leading renewable energy and sustainability companies. It has been actively developing and financing renewable energy projects around the UK, including solar, wind, biomass and anaerobic digestion. RAW Energy has worked with and advised many of the UKs largest sustainability funds and is a consultant to both developers and funders.
“With the impending growth of the electric vehicle market in the UK it is essential that companies and organisations are able to spread the cost of both the equipment and installation of the infrastructure,” said Bruce. “It was important for us to have a strong finance partner who could match the sophistication of the ChargePoint network and expected demand over the coming years of growth.”
John Fawcett, CEO for Close Brothers Asset Finance’s Transport division, said: “The EV revolution is really starting to take hold – in August, sales of electric vehicles reached a record high, accounting for one in every 12 new cars purchased in the UK. We have long been supporters of the move towards more efficient vehicles and look forward to an exciting future.”
Tony Mills, Director, Commercial Accounts & Channels (Europe), ChargePoint: “The revolution in mobility is upon us and the signs are clear, the shift to mass electric transportation is an unstoppable train with no signs of turning back. ChargePoint is committed to helping pave the way to an all-electric future and collaborating with partners like Close Brothers Asset Finance and RAW Charging is key to building out the fuelling network of the future that will support the shift to electric mobility and transition to fleets in the years to come.”