Homeowners in the UK with an electric vehicle (EV) charging point on their driveway are earning an average of £1,020 a year by renting out their amenity to motorists looking for somewhere to park and charge. This is an easy way to make a little extra cash while you’re out at work.
According to yourparkingspace.co.uk, clever homeowners are making a handy £85 per month by offering drivers a chance to charge their car while they are parked.
This compares to the average of £73 per month that listings without an EV charge point facility are making. This means that spaces which offer EV charging facilities are, on average, making £144 a year more than spaces that do not.
Harrison Woods, Yourparkingspace CEO, said: “The deepening cost of living crisis means homeowners up and down the country should now be considering creative ways to balance the books.
“And while there is money to be made by renting out driveways for all with a vacant parking space, our booking data has revealed that homeowners who are lucky enough to possess an EV charge point can make considerably more money.”
Renting out a driveway equipped with electric vehicle charging facilities could help reduce the payback period when investing in a charge point. Homeowners with an empty driveway and electric vehicle charge point can list it for free on yourparkingspace.co.uk.
According to the company’s analysis, spaces in particularly high-demand are those in city and town centres, near music and sports venues, railway stations, airports, and high streets.
Woods added: “EV owners can expect to pay upward of £1,000 for an EV charge facility to be fitted at their homes. However, our data has discovered that a return on this investment could realistically be achieved by renting out a vacant space in just one year.
“This means many homeowners can make green decisions without necessarily worrying about the finances required to do so.”
Last year YourParkingSpace announced a partnership with EVBox, one of the world’s leading electric vehicle charging solutions companies, to create pre-bookable electric car park and charge points across the UK. This includes locations in the retail and hospitality sectors, so motorists know that a charge point will be available when they arrive.