Top Reasons to Equip Your Business with EV Charging Stations

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Top Reasons to Equip Your Business with EV Charging Stations

By 2025, electric vehicles (EVs) are expected to account for 25% of all vehicle sales. Position your business at the forefront of this trend by setting up EV charging stations. Here are seven compelling reasons to install EV charging stations at your business.

Why Installing EV Charging Stations Is Smart for Your Business

1. Promoting Environmental Responsibility

Offering EV charging stations is a straightforward yet impactful way for businesses to contribute to environmental preservation. A significant hurdle to EV adoption is range anxiety—the worry about running out of power before reaching the next charging spot. By providing charging options, businesses not only facilitate a more sustainable transportation choice for employees, customers, and visitors but also motivate them to consider EVs for their next vehicle purchase.

2. Enhancing Employee Benefits and Workplace Appeal

Between 2012 and 2014, the availability of workplace EV charging stations saw a notable increase, with noting that their usage at workplaces jumped significantly, with 90% being used five days a week. Fast forward five years, and it’s clear that increasing the number of Electric Vehicle Service Equipment (EVSEs) is crucial for encouraging more EVs on the road. According to Green Tech Media, the cost impact of EV chargers on a company’s electricity bill is minimal, typically less than a 4% increase. Offering EV charging facilities can thus enhance a company’s benefits package, making it more attractive to prospective employees. EV owners tend to be younger, tech-savvy, and have higher incomes—traits that are highly valued in employees poised to drive future business success. Moreover, having EV charging stations at the workplace sends a powerful message about a company’s commitment to sustainability and innovation, appealing to environmentally conscious and tech-forward talent.

3. EV Charging Stations Highlight Your Business on Digital Maps

Integrating your business with networks like the Blink Network allows your EV charging equipment to be featured on the Blink Map, a tool used by electric vehicle drivers to find charging spots. This map, along with other apps such as PlugShare, ChargeHub, Chargemap, and Open Charge Map, makes your location visible to a tech-savvy audience. These platforms offer detailed information about charging station locations, types of plugs available, and nearby amenities. Being listed can draw in EV drivers, who may spend time at your establishment while their vehicle charges, potentially boosting foot traffic and sales.

4. Attract Eco-conscious Customers

EV owners often have a keen interest in sustainable living, as evidenced by CleanTechnica’s finding that 28-40% of them install solar panels at home. By installing EV charging stations, businesses can appeal to this demographic, attracting customers who value environmental stewardship. This can be especially beneficial for companies selling eco-friendly products or services, as it encourages repeat visits and fosters a loyal customer base interested in sustainability.

5. Enhance Customer Loyalty

Major retailers from Walgreens to Target are installing EV charging stations as a strategy to attract electric vehicle owners. Offering EV chargers can draw in customers who aren’t necessarily seeking eco-focused businesses but need a convenient charging spot. By providing this service, your business can become a go-to location for EV drivers, encouraging them to choose you for their shopping needs, whether it’s a quick stop for essentials or a longer visit.

6. Generate Additional Revenue

Incorporating EV charging services can also open up a new revenue stream for your business, especially if you run a facility with parking spaces. Charging a fee for the use of EV charging stations adds an extra income source with minimal effort and no need for additional staff. Prices typically range from 39 to 79 cents per kilowatt-hour. Implementing a charging fee can encourage turnover, making the space available for more users and preventing non-EV vehicles from occupying these spots. With the right EVSE (Electric Vehicle Supply Equipment) solution, you can easily manage access control and integrate charges with other services, like parking fees, streamlining the payment process for users. Over time, the income generated from these services can offset the costs of installation and maintenance, making it a financially sound investment.

7. Access Rebates and Tax Breaks

Federal incentives include the Alternative Fuel Refueling Infrastructure Tax Credit, which supports businesses installing EV chargers. Previously, this credit offered 30% up to $30,000 per location. Now, for installations between 2023 and 2032, businesses can receive a credit of 6% up to $100,000 per charging station. Moreover, if businesses adhere to prevailing wage and apprenticeship standards, the credit per station can be boosted from 6% to 30%. Additionally, the Partnership for Sustainable Communities may offer further tax credits.

  • California leads in offering incentives for EV charging stations, with cities like Los Angeles, Anaheim, and Santa Barbara providing their own rebates, alongside state-level financing options and grants up to $6,000 per charger.
  • Colorado’s grants cover up to 80% of EVSE costs, maxing out at $6,260, through its Energy Office and Regional Air Quality Council.
  • In Florida, Orlando and its Utilities Commission offer rebates up to $1,000 for EVSE installation and purchase.
  • lllinois provides rebates for EVSE installation costs, with potential rebates up to $49,000, depending on the number of chargers.
  • Massachusetts’s MassDEP offers up to 60% funding for hardware costs of EV charging stations.
  • Texas’s program covers up to 60% of costs for alternative fueling facilities, with a cap of $600,000.
  • Most U.S. states have some rebate or tax credit for EV charging station installation, with specifics varying by state.

Looking to Install EV Charging Stations but Unsure How to Begin?

Assess Business Needs

Kick off your assessment of current and anticipated demand for EV charging stations with an employee survey. Combine survey insights with future demand forecasts as you map out your EV charging strategy. Consider posing the following questions in your survey.

  • Do you or someone in your home have a plug-in hybrid (PHEV) or a fully electric vehicle (BEV)?
  • If you do, where do you usually charge it?
  • If applicable, do you drive your EV to work?
  • Are you thinking about getting an EV within the next year?
  • Would workplace EV charging influence your decision to get an EV?
  • If your workplace offered EV charging, how likely would you be to use it?
  • Do you think your employer should increase its support for renewable energy?
  • Do you view workplace EV charging stations as a valuable employee perk?

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