Homeowners fetch over £1,000 a year renting their EV driveways

Homeowners renting out their EV charging point are earning an average of £1,020 a year, according to YourParkingSpace.

In recognition of World EV Day, yourparkingspace.co.uk has analysed its booking data to reveal that 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, meaning that spaces which offer EV charging facilities are, on average, making £144 a year more than spaces that do not.

Harrison Woods, CEO at YourParkingSpace, 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.”

Harrison also suggested that renting out a driveway equipped with EV facilities could help reduce the payback period when investing in an EV charge point:

“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 – meaning many homeowners can make green decisions without necessarily worrying about the finances required to do so.”