2024 EV Charger Solution Incentives Update: Top 5 Countries in Europe

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Electric vehicles have become very popular around the globe. It’s not surprising considering their sustainability aspect and other benefits. To slow down the rising trend of climate change, some key solutions, such as transportation transformation, are urgent. However, their widespread adoption requires adequate infrastructure for charging. For this purpose, many European countries have implemented attractive incentives for both the purchase of electric vehicles and the development of the latest EV charger solution models.

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What are the European Incentives for EV Charger Solutions?

Many European governments have implemented significant financial incentives and policy support to promote EV adoption and the charging infrastructure’s development.[1] Here is a closer look at the incentives in some of the top EV markets in Europe:

1. The Netherlands

The Netherlands offers some of the most competitive EV incentives in Europe. Purchase incentives include an exemption from the registration tax and road tax for full EVs in 2024. Moreover, the government will provide companies with a 17% tax benefit for fully electric vehicles under €30,000. 

At the national level, the Dutch EV charging subsidy program will save homeowners up to €4.25 per charging session by reducing energy taxes for public chargers. In 2023, the Dutch government also allocated €67 million to subsidize new EV purchases, with each one amounting up to €2,950.

2. Sweden

Sweden provides various ownership tax benefits for electric vehicles, such as lower annual road tax. EVs pay only €32 in annual road taxes compared to €355 for a comparable gasoline vehicle. The private use of company EVs is taxed at reduced rates, providing a 50% discount to the tax base calculation for BEVs with a maximum €30,550 reduction of tax base. Sweden previously offered purchase subsidies of up to €4,365 but has since ended this program in late 2022. For households who purchase electric vehicle chargers, the government will provide a subsidy of 50%, up to a maximum of €960.

3. France

Through the French “ecological bonus” program, individual buyers can receive up to €5,000 from the state when buying an EV lower than €47,000 and €7,000 additional regional subsidies if the car owners’ income is less than €14,100 annually. France also exempts EVs from registration taxes and its CO2-based tax component for cars emitting less than 60g CO2/km. 

Other benefits include parking privileges and VAT reductions for home EV charger solution installations. The government is also expanding the nationwide public charging network.

4. United Kingdom

Until recently, the UK government provided tax incentives for enterprises installing EV charger solutions. The UK also offers grants of up to £500 to install home EV charger solutions and support workplace charging through the Electric Vehicle Home Charge Scheme. There’s also an annual circulation tax and registration tax exemption for zero-emission vehicles valued at £40,000 or less.

5. Norway

As a global leader in electric mobility, Norway has some of the most generous EV policies worldwide. Hefty purchase tax reductions and low annual road fees of just €48 make EVs very attractive in the country. Norway similarly taxes company EVs at preferential rates of 30%. Drivers with EVs at €42,000 or below price are exempt from purchase tax. Above this value, the tax is 25% with benefits like no budget limitation, no VAT, no weight Tax, and no CO2 tax.

Currently, there is a fast charging station every 50 kilometers on the main roads in Norway. The budget for installing EV chargers allocated by the government to housing associations has also increased. For example, the budget for 2018 reached 2.1 million euros. 

What Can These European Incentives Bring?

The comprehensive package of financial incentives available across major European markets aims to accelerate the adoption of electric vehicles and associated infrastructure like the EV charger solution. These policies could result in several positive outcomes:

1. Growth in Sales of Electric Vehicles

Tax exemptions and subsidies lower the cost of EVs. This makes them more appealing to consumers. If incentives continue, EV market share is anticipated to exceed in the coming years. Countries like Norway, Netherlands, and Sweden, with the most generous policies, have seen obvious growth, with about 6-23% of alternative fuel vehicles share. Continued support could see EVs become the norm on the road.

2. Growth in Demand for EV Charger Solutions

As more drivers switch to electric, the need for convenient public charging will rise significantly. Charging infrastructure must expand in the coming years to maintain growth. Incentivizing home EV charger solution installations and supporting commercial stations will be critical to satisfy the increasing demand and give drivers confidence in EV driving ranges.

Most European countries, such as Sweden and the Netherlands, have adopted tax incentives and subsidies for households and businesses purchasing chargers, which reduces the hesitation of homeowners and businesses before purchasing electric vehicle chargers and calls on them to consider EV chargers as a strategic investment.

3. Significant Environmental Protection Effect

Widespread EV adoption could dramatically reduce transport emissions, one of Europe’s highest sources. Wide electrification could significantly cut CO2 amount. It could support Europe’s climate goals of reaching carbon neutrality by 2050. Therefore, the benefits of transportation transformation to us are immeasurable in the long run.

4. Growth in the New Energy Market

The European incentives will also drive the development of the entire new energy market. With increasing government support for renewable energy, the clean energy industry will gain new investment opportunities. Many industries, such as efficient energy storage solutions, smart grids, and energy management, will gain new growth drivers. Moreover, vehicle-to-grid solutions alone could deliver considerable benefits annually in the next decade. 

EVB Charger Promote Sustainable Transportation with Innovative Products

EVB Charger is a provider of electric vehicle charging equipment with years of expertise in developing advanced power electronics solutions. We are a subsidiary of BENY and employ many professional R&D engineers and electrical specialists focused on designing charging products that are safer, more efficient, and convenient for customers. 

At EVB Charger, we hold various certifications, such as UL, SAA, CB, and CE, and consistently deliver charging rates faster than our competitors. Our premium EV charger solution also withstands harsh outdoor environments for reliable public use. Our top offerings for commercial/industrial and household applications include:

1. For Commercial and Industrial Applications: Floor-Mounted 2 Guns DC EV Charger

The Floor-Mounted 2 Guns DC EV Charger is an advanced commercial charging solution suitable for high-traffic locations. Its key features include:

  • Dual charging guns/ports allow two vehicles to fast charge simultaneously
  • Output of up to 240kW per port for ultra-fast charging (60kW-240kW optional)
  • LCD touchscreen display and RFID card authorization
  • Compatible with CCS and CHAdeMO standards
  • IP55 rating for durability and resistance to corrosion
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2. For Household Use

1) Portable+Wall-mounted 2 in 1

The Portable+Wall-mounted 2 in 1 EV Charger provides flexibility for residential and travel charging needs. Its key characteristics include:

  • Combines portable and fixed charging options for various use
  • 7.4-22kW charging power allows to be used for different sizes of EV
  • 7 meters total length allows indoor or outdoor vehicle charging (Customized length available)
  • Emergency shutdown and ground leakage protection ensure user safety
  • Compact design integrates neatly into homes, apartments, or garages
  • IP65 waterproof rating
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2) AC EV Charger with Socket

As an entry-level home charging option, the AC EV Charger with Socket offers hassle-free overnight charging suitable for most electric vehicles. Its top features include:

  • Entry-level home AC charger for cars suitable for most EVs
  • Universal Type 2 socket fits most EVs in Europe, China, and beyond
  • Maximum output of 22kW for overnight home charging
  • IP55/65 weatherproof casing for indoor or outdoor wall mounting
  • Automatic firmware updates and remote maintenance via EVBox BusinessLine’s Wi-Fi and cellular connection
AC EV Charger with Socket 9

Conclusion

Overall, as electric mobility continues to expand globally, Europe remains at the forefront with comprehensive incentives that promote both EV adoption and EV charger solution infrastructure development. With innovative charging products, the reputed EV charger supplier EVB Charger supports Europe’s transition to more sustainable transportation. Visit our website to find our full range of offerings.

References

[1] Europe Road Incentives and Legislation. Available at: https://alternative-fuels-observatory.ec.europa.eu/transport-mode/road (Accessed: 23 January 2024)

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