As the world moves toward clean energy, the ever-increasing number of electric vehicles (EVs) on the road is impossible not to notice. EV sales grew 60% year-over-year in 2022, despite the decreasing global vehicle market. In 2023, sales crossed the one-million-unit mark, increased 52% compared with 2022, and reached a market share of 7.5% of all vehicles sold in the United States.
Today, EVs are more accessible than ever thanks to financial incentives, a wide range of makes and models to suit most needs, and even plans to phase out combustion engines in places like California. While EV growth is not slowing down, the International Energy Agency has reported that electric vehicle adoption is outpacing the development of charging stations in the U.S.
Meeting the demand for public EV charging stations
Businesses can support the growing number of electric vehicles on the road today by meeting the demand for public charging stations, thereby reaping several benefits.
How do public EV charging stations work?
Most public EV charging stations provide a safe place for users to park and plug into a Level 2 or Level 3 DC (direct current) charger. While Level 3 chargers are the fastest way to refuel EVs, Level 2 charging stations may be the best option for property owners, with sufficient charging speeds and significantly less upfront capital required for installation.
When charging at a public station, EV owners may pay a small usage fee and variable pricing for the energy or time spent fueling their vehicles. On average, charging a battery from empty to full costs EV owners between $10 and $30 at a public charging point, depending on electricity prices and vehicle storage capacity.
Some free EV charging stations are also available in the U.S., where property owners cover the electricity costs for their customers or tenants.
The benefits of public charging stations for EV drivers
The benefits of public EV charging stations are undeniable. While most EV drivers plug in at home, public charging stations can help maintain battery charges for extended driving ranges while on the road. Further, public charging stations open the possibility of EV ownership to those without an efficient way to charge at home.
Why businesses should invest in EV charging stations
From movie theatres to malls and offices, businesses of all shapes and sizes can benefit from installing EV charging stations.
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Financial advantages: Beyond creating a new revenue stream, adding charging points can also increase property values. To minimize your upfront investment, you can explore many tax incentives for EV charging stations, including a 30% federal income tax credit on all electric vehicle supply equipment (EVSE).
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Attracting and retaining users: Adding EV charging to your business can help entice drivers to patronize your property. Whether you’re a store owner or property manager, EV charging stations for businesses can help build short- and long-term loyalty among customers, tenants, and employees.
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Environmental consciousness: To support the rapid growth of electric vehicles, new public charging stations must be installed in locations convenient for drivers. Under the environmental stewardship umbrella, businesses with solar power systems can support sustainability even further with EV chargers that use renewable energy.
Businesses can generate additional revenue streams and establish themselves as environmentally conscious by installing EV charging stations at their premises, including stores, gas stations, and public parking areas. By doing so, businesses can offer a valuable service to their customers who drive electric vehicles.
As most people can choose between multiple grocery stores or professional services, adding chargers may encourage EV drivers to frequent your establishment over alternatives. Customers charging their vehicles for 30 minutes or more may result in additional money spent onsite.
Best of all, a public EV charging station can help direct new traffic to your business when listed online for drivers looking for a charging station. Whether you join a charging station network or list your new service on PlugShare, travelers can find your property in a brand-new way.
Hospitality businesses—including lodging, restaurants, and other attractions—can benefit from a public EV charging station investment. When EV drivers are away from their immediate routine, finding a charging station is critical to staying fueled on vacations, business trips, and travel of all varieties.
For highway-adjacent hotels and getaway cottages, travelers arriving in EVs may be more likely to book a stay wherever they know charging is available. Likewise, anyone passing through a new town in an electric vehicle looking for a bite to eat may also seek out a restaurant that offers EV charging.
In property management, keeping tenants happy often requires valuable, updated amenities. For office buildings, healthcare facilities, warehouses, and other commercial properties, EV chargers can attract and retain lessees seeking electric vehicle charging at work. Even further, businesses with electric vehicle fleets can benefit the most from EV charging onsite.
Workplace EV charging stations can be available privately to tenants (as an exclusive benefit) or open to the public to attract visitors and generate additional revenue. Building owners could also consider a commercial solar system to help manage the increased energy demand and costs associated with EV charging.
Installing the best EV charging stations for business
With so many EVs on the road today, charger compatibility is crucial to support a broad audience. Businesses hoping to attract users must invest in high-quality hardware suitable for every type of driver.
Available with various power levels, Enphase HCS EV Chargers offer universal compatibility, the versatility necessary to meet driver demand, and the durability to withstand public use. For help getting started, contact us anytime and our product specialists can help you choose the best chargers, equipment, and accessories for your business.
After purchasing your charging station(s), you’ll need to have it installed by a licensed professional to ensure the station’s safety, legality, and longevity. See our easy-to-use installer locator to quickly find a licensed EV charger installer near you.
