This represents more than a 40% increase from the previous charge point grant amount of £350 and is expected to cover nearly half of the typical cost of installation until March next year.
From 1 April, this will be open to people living in rented accommodation, flat owners, residential landlords, households with on-street parking and businesses.
This also means drivers will be able to access cheaper domestic electricity rates to power their car for as low as 2p per mile.
The government said this would help more households switch to EVs and potentially save up to £1,400 on running costs when compared to a petrol car.
More than 55,000 drivers have already saved money through the government’s £2bn Electric Car Grant, it said.
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Support schemes for EV charge points will also be simplified and the number of grant types will be reduced from eight to five.
This follows a £25m scheme last year that made it easier for residents without driveways to install home chargers.
Keir Mather, aviation, maritime and decarbonisation minister, said: “We’re taking action to make EV ownership the affordable choice for everyone – not just those with driveways. Bigger grants mean families, flat owners, renters and small businesses can now install a charger for almost half the usual cost, with home charging costing as little as 2p a mile.
“Combined with our Electric Car Grant, which has saved over 55,000 drivers thousands off the price of a new EV whilst boosting sales for carmakers, and record funding for our national public charging network, we’re backing the EV revolution for drivers, businesses, and industry.”
Ben Beadle, chief executive of the National Residential Landlords Association (NRLA), said: “Almost nine in 10 landlords with a suitable property would install EV charge points if a tenant asks them to undertake this work.
“Given the extent of landlords’ willingness to provide them, we welcome the government’s plans to encourage more widespread installation of these points across the sector.
“We urge landlords to make best use of the grants now available where it is feasible for them to do so.”
