Electric vehicles grow more popular every year. Consider scheduling an EV charging station installation to secure your business’s future.
Continue reading to discover the benefits of EV chargers. Whether it’s the marketing advantages, increased revenue, or a wider customer base, you’ll love how much your EV charger can do for your business.
Market Your Sustainability
You can expand your marketing opportunities by utilizing EV charging for your business. According to an IBM retail report, 57% of consumers consider changing their shopping habits to reduce their carbon footprint.
Electrical vehicle charging stations help convince customers you care about your business’s environmental impact. If you don’t own the property, you can convince the owners to install stations by pointing out the increased value.
With charging stations installed, begin thinking about what marketing campaigns you’ll use to make all your potential customers aware of your environmental commitments.
Attract Environmentally-Conscious Customers
An EV charging station installation attracts environmentally-focused customers. These customers are very loyal, and they usually know other like-minded customers. If you’re the only business in the area with public EV chargers, you significantly expand your customer base.
Electric vehicles take time to charge. While the vehicles have fancy onboard entertainment systems, many drivers prefer to shop while their car charges. If you’re providing the charger, who’s business do you think they’ll choose?
Research shows that half of the revenue for businesses that install EV chargers comes from drivers who shop while their car charges. While the chargers may increase your electric bill, the new customers you’ll attract can more than make up for that.
Additional Read: Powering Up with EV Charging: How Solar-Powered Chargers Can Cut Your Electric Bill?
Are you worried electric vehicle drivers won’t find your business even with a charging station? Many drivers use apps on their phones to find nearby options. EV owners will flock to your business, whether local or just passing through.
Benefit Your Employees
If your employees drive electric vehicles, you can advertise your charging stations as an employee benefit. Employers with charging stations consistently report that their stations are regularly filled during the work week.
Installing charging stations attracts talent that moves your business forward. On average, electric vehicle drivers are younger, earn more, and use technology better. They often qualify as top talent and can launch your business into the future.
With charging stations installed, your employees feel like they’re part of a business that cares about the environment. They know their work not only has great benefits but makes a difference.
Increased Accessibility
One of the most overlooked benefits of EV charging stations is that they increase access to more places.
Additional Read: Benefits of Solar Energy for Commercial Properties
An electric vehicle’s most limiting factor is its miles of range. You can only get so far before you have to charge it. When you install a charging station, you increase an electric vehicle owner’s access to the surrounding area.
Increase Your Revenue
Commercial EV charging station installation is good business sense because it opens up another revenue stream. If you’re unsatisfied with an expanded customer base, you can program your charging station to bill users. With this setting, you can quickly recoup your installation costs and generate passive income even when people stay in their vehicles.
How much can you earn? Most companies charge between 39 and 49 cents per kilowatt-hour. You can also charge for every hour the car is parked there to encourage drivers to move once they’re done charging.
Additional Read: How Much Does It Cost To Charge an Electric Car?
Stay Relevant
EV chargers are the way of the future, and you miss out if you join the movement.
What does the future of electric vehicles look like? By 2025, experts expect electric vehicles will comprise 25% of all vehicle sales.
As the market share of electric vehicles grows, businesses that ignore charging stations will find themselves left out. Customers and employees who drive electric vehicles possess the capital and loyalty to propel a business forward technologically and financially.
Tax Benefits
You’ll find several federal and state tax benefits from EV charging station installation. These rebates and tax breaks expedite the time it takes to recuperate your installation and maintenance costs and start turning a profit.
Federal Benefits
With the Alternative Fuel Infrastructure Tax Credit, you can receive a 30% tax credit for all your electricity-related infrastructure. The credit is capped at $30,000 but still offers substantial savings. The Partnership for Sustainable Communities also provides tax incentives.
State Benefits
Almost every state presents some benefit, credit, or rebate, so check your location’s offerings. Here are the states with the best policies:
- California: The state offers financing, tax breaks, and grants of up to $6,000 for each charger. Various cities, such as Los Angeles and Anaheim, also offer their own incentives. The rebates range from $500 to $10,0000 for level 2 chargers and $20,000 for DC fast chargers.
- Colorado: The Colorado Energy Office and Regional Air Quality Council offer grants that fund up to 80% of a charging station’s installation cost.
- Florida: The city of Orlando provides a $1,000 rebate for EV charging station installation or purchasing supply equipment.
- Illinois: The Department of Commerce and Economic Opportunity offers rebates totaling up to $49,000 for installation. The actual amount depends on the number of stations you install.
- Massachusetts: The state funds up to 60% of your hardware costs.
- Texas: The state covers 60% of qualifying costs. They cap the benefit at $60,000.
Other Considerations
What else should you know before you install an EV charging station?
Your Employees
To ensure you’ll gain a good return on your investment, consider polling your employees before installation. You can ask the following questions:
- Do you regularly drive an electric vehicle?
- Are you considering purchasing an electric vehicle within the next year?
- If you had an electric vehicle, how frequently would you charge it at work if your employer-provided charging stations?
- Should your employer do more to support environmentally friendly energy?
Your Vendor
You can manage your charging stations, but many companies prefer hiring a vendor. Supervising the charging stations isn’t a passive job; it includes duties such as:
- Creating reservation systems
- Enforcing time limits
- Obtaining and maintaining liability waivers
- Operating the chargers
- In some cases, moving cars
Without a vendor, these obligations often necessitate creating a new station management department. While you’ll likely receive a good return on your investment, many companies find it easier to hire a vendor.
Your Technical Capacities
Are you worried your electrical panel and electrical wiring can’t support the extra power from an EV charging station? Before installing your commercial station, your contractor should confirm your system can handle the increased load.
Increasingly advanced technology and an overall secure power grid ensure most businesses won’t see any risks from installing multiple charging stations. Most commercial charging stations plug directly into the local power grid rather than the business itself.
Talk to your charging station installation specialist if you have any concerns about your infrastructure.
Call Verde Solutions for All Your EV Charging Station Needs
Are you convinced of the benefits of EV charging station installation? At Verde Solutions, our expert engineers can easily install charging stations so you can reap the benefits.
Take advantage of your future. Call us today for a free consultation at 800-541-1137 or contact us online.
