How Much Money Can I Make With Charging Stations

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Infrastructure

How to brand coin with EV charging stations

May 10, 2021 |

Getting EV charging today is about more than just preparing your location for this shift in transportation—it's likewise a clearcut path to alluring more customers and generating more profit. Beneath are a few examples of how adding public EV charging can make your existing business more profitable, besides as become a acquirement stream all on its own.

How to heave client spend with EV charging

In today's competitive landscape, businesses must think of creative ways to attract customers while also boosting the value of each transaction. Transforming your location into an EV charging destination is one of the simplest means to practise just that .

Increment the fourth dimension customers spend at your location

One time EV drivers stop to charge, there is an obvious cross-selling opportunity for add-on products and services. Whether it's a rideshare driver recharging during a luncheon break or a little league coach topping off his battery while getting snacks for the team, if you install charging stations, EV drivers volition spend more than time at your location.

Depending on the blazon of charger you choose, EVs can accept anywhere from twenty minutes to six hours to accuse (depending on battery size). For shops, restaurants, or gas stations, a fast (DC) charging solution is an platonic choice, charging fifty-fifty the largest EV batteries up to full in under an 60 minutes. However, since most EVs coming to your location aren't looking to charge from 0-100 percent, a standard Level two (AC) charging solution tin also arrange most driver needs, allowing them to add ~25 miles of range per hour. In many cases, a mix of AC and DC charging stations is the all-time solution.

Either way, by offering your customers a convenient charging experience, yous also encourage them to spend time, and coin at your location while they wait.

Attract loyal customers that are more valuable

A report looking into the usage of EVs found that EV drivers are more than twice as wealthy as the boilerplate American, with a median household income of over $150,000. With more disposable income than gas-car drivers, your EV-driving customers will not just spend more time at your location simply also purchase college-cease goods and services every time they visit. Plus, these drivers are likely to turn into loyal, repeat customers once they know your business offers this valuable service.

Roughly half of Americans aren't confident well-nigh finding EV charging when they demand it, yet still, 40 pct still say they are considering an EV for their adjacent automobile. Locking in your location now as ane of the places that provides this amenity could turn your business into an ofttimes-frequented EV charging oasis.

Instantly heighten your reputation

EV charging stations likewise put your business concern on the map—literally. Popular navigation sites like Google Maps or Waze, and dedicated charging apps such equally PlugShare characteristic interactive maps that enable drivers to locate nearby public charging stations. Past having charging stations at your site, you lot can heave your brand visibility on these platforms and attract new customers.

Plus, with customized charging stations that display your brand colors or logo, you tin can dramatically improve your corporate paradigm past letting anybody who sees them know that your organization is openly committed to a more sustainable future.

Environmental concerns are increasingly top-of-heed for your customers. By having charging stations on your property, you tin can establish your business equally an eco-conscious organization—and even earn some prestigious sustainability certifications for your location (LEED, GBB, WELL).

How to generate consequent revenue from EV charging

Attracting new customers, earning brand loyalty, and increasing fourth dimension (and coin) spent at your location are all splendid examples of how EV charging can drive profitability. Merely the about obvious mode EV charging can heave profits is the revenue earned from the stations themselves. Depending on the business model you lot choose, y'all can generate boosted income by setting charging fees, and your customers will be more than happy to pay them.

There are a few master means y'all can structure pricing on your charging stations—it actually depends on what you want to get out of your setup. You can as well test out different strategies any time you want. By having an overview of your stations' pricing and free energy usage via your charging management platform, making adjustments to your setup is every bit easy equally updating a few settings.

Earn coin by setting charging fees for your customers and visitors

Before you can start earning revenue from your charging stations, the first affair yous demand to figure out is how you want to bill for charging. As the charging station owner, you can set your own charging fees and adjust them at whatsoever fourth dimension. This may include a fixed session outset or connection fee and a variable rate for the energy used.

1 common practice is to accuse by the corporeality of energy being used (i.eastward., $0.10/kWh). You too have the freedom to ascertain your own mark-up (i.e., $0.35/kWh). Then, if a car pulls up and needs to accuse 25 kWh, that'd be:

25 kWh x $0.45/kWh = $11.25.

US Gross Revenue per charging session

If you'd rather fix a fee based on time, you tin implement a flat hourly rate (i.eastward., $2.25/60 minutes). So, if the station is charging at seven.four kW, and the machine needs 25 kWh to recharge:

25 kWh / 7.4kW = ~3.5 hours.

From there, simply multiply the time plugged in by your hourly rate to become the estimated revenue:

~3.5 hours 10 $2.25/60 minutes = ~$7.85 total.

Some sites combine the 2 forms of charging. For case: $0.45/kWh + $0.thirty/hr. This helps to reduce their hourly charge per unit while still ensuring guests don't "camp out" in a spot when their machine is fully recharged.

It'southward important to note that consumers expect unlike energy prices depending on the type of charging your stations offer. Commercial AC charging tends to be cheaper and can take around 4 to six hours to fully charge a vehicle, depending on the model. DC charging prices are typically higher, every bit fast charging allows drivers to spend less fourth dimension plugged in (normally between 15 minutes to an hour).

The amount of revenue you can earn also depends on your location type and how frequently your stations are utilized. At hotels, for example, guests typically park for eight to 12 hours overnight while they slumber. In this scenario, AC charging stations would exist the ideal investment.

At rest stops or gas stations, on the other hand, customers usually park for 15-30 minutes while grabbing a snack or java. In this scenario, DC fast-charging stations would be appropriate, with a quick enough turnaround time to allow all your customers to charge quickly and get dorsum on the road. You lot can see a breakdown of some other common scenarios and the estimated acquirement of each below.

US Revenue Potential

Y'all can besides brand private agreements with your customers about their charging rates. For instance, yous could use a blanket strategy where everyone pays the aforementioned rate or a stratified approach where some guests pay less than others (i.eastward., discounted EV charging for rewards members). If you're interested, you lot can accept a await at some of the virtually mutual business models used at locations like yours.

From cantankerous-selling opportunities to generating its own acquirement, EV charging is a slap-up way to bring in some new business—and it'due south just going to go bigger.

Want to know how to build the right EV charging solution?

Learn everything you lot need to know to turn your location into a premium EV charging destination by downloading our free ebook.

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