Why Businesses Should Invest in EV Charging Stations Now
As our recent guide to EV and EV Charger incentives shows, most European countries are now pushing forward with electrification to cut carbon emissions significantly by 2030. The UK announced a new £400 million fund for EV chargers just last month, Italy has introduced a comprehensive EV incentives program for the first time this year, and Germany has just ratified its updated 2030 Climate Plan, continuing current incentives well into 2025. Other countries are on the same pathway. This means that EVs.and their chargers-are coming and they’re here to stay.
So, get ready to say goodbye to petrol pumps and hello to sparkly new EV charging points at your local service station, as many Norwegians and Americans are already doing. Businesses that want to not just survive, but thrive, in this increasingly electric environment will have to keep up. With EV charger incentives now becoming the norm across much of Europe, businesses of all kinds must take advantage of the opportunity to develop their own charging infrastructure for employees and/or customers. Not only do government incentives normally have time limits but without such infrastructure, your business may increasingly struggle to compete with those who have already gone electric. Continue reading to discover other potential benefits of charging stations for your business:
Main Benefits of Charging Stations
Keep Your Customers and Employees Coming Back for
Get The Green Light
Today’s consumers are more concerned with the ethical reputation of the companies they buy from than those of the past. A report by Forbes in 2017 found that a whopping 87% of consumers tend to have a more positive image of a company that supports social or environmental issues. 88% are also more likely to remain loyal to such a company than a less eco-conscious competitor. In other words, most people today are concerned about social and environmental issues and increasingly opt to buy from and work with companies that fit with their personal ethical values. This is especially the case for millennials and “generation Xers” and those who already own or who may in the future own an electric vehicle – usually a more environmentally-minded demographic.
Whether you’re a supermarket offering charging facilities to your customers or a logistics company with an electric fleet and its own charging infrastructure, installing EV chargers on your premises shows your company is choosing to go green. EV charging can be part of a larger sustainability goal. This in turn allows certain businesses to gain industry-recognized sustainability qualifications, such as LEED certification. For real-estate companies aiming to gain country or continent-specific environmental accreditation, for example, installing EV chargers for their tenants may really help them to tick important boxes for such certification.
This will not only boost your brand image and reputation, increasing customer loyalty, and bringing in new customers, especially as more and more people become EV owners. It will also help to attract and retain employees who, like consumers, are increasingly concerned with environmental and social issues. Installing EV chargers may also actively encourage environmentally-friendly behaviors among employees, clients, or tenants who haven’t yet ‘gone green. Indeed, according to a survey conducted by the US Department of Energy, workers are 20 times more likely to buy an electric vehicle if their employers offer free charging at work. Besides all the business benefits then, going electric will also give you the sheer satisfaction of doing something good for the environment!
Make Your Business The Convenient Choice
Going greener by installing EV chargers will not only boost customer loyalty due to reputation. As more people own EVs, and the drive towards an electric future in 2030 really kicks in, EV chargers will become essential facilities. If freely accessible Wi-Fi is now present in most public places in Europe, EV charging will also become near-ubiquitous in the coming years. Customers will expect their favorite shops, restaurants, and hotels to provide them – and if they don’t, they will switch providers. After all, why would you go grocery shopping and not charge your EV for free if you could?
When it comes to more remote businesses like service stations and hotels that require longer travel time, EV chargers will be even more essential. For customers who may have had to drive long distances, charging will be more than just convenient: they’ll need it to continue their journey. This is also true of commercial or residential real estate. Companies renting office space will increasingly expect these businesses to offer EV chargers for their employees. Meanwhile, tenants who are EV owners will, understandably, expect to be able to charge their car at their home too.
Future employees or service partners that use EVs will also increasingly begin to consider charging stations as granted, inevitably picking the employers or partners that offer them over those who don’t. A good pension package and Friday night drinks with work friends are only some of the requirements that today’s employees expect; onsite charging will become the norm as more people commute to work using EVs or electric scooters. Indeed, research shows that employees increasingly appreciate charging stations at their workplace. In the US alone, 74% of Plug-in Electric Vehicle (PEV) owners express a strong interest in workplace charging. The benefits of EV charging stations for your business are therefore not just limited to the customer side. They’ll also help your company internally by driving recruitment and higher employee retainment rates.
Conclusion: Future-Proof Now Before It’s Too Late
As demonstrated by our EV incentives guide in Europe, most European countries are aiming for near-total electrification by 2030. The fossil fuel to electric vehicle transition is already happening. However, when combined with increasing incentives and the breakthrough in battery technology development that’s just around the corner, this shift is set to be in full swing by 2025-30. Indeed, given that there were around 3 million EVs in the world in 2018, it’s estimated that that number will rise to 125 million by 2030. EVs are where it’s at: if your business wants to capitalize on the many benefits noted in this article and stay competitive, you should enter the arena and get investing in EV charging infrastructure sooner, rather than later.
To find out what kind of charger would work best for your business, visit our website here.
Electric Vehicle Chargers
If all EV chargers sold in the U.S. met ENERGY STAR requirements, the savings in energy costs would grow to more than 17 million and 280 million pounds of greenhouse gas emissions would be avoided.
The number of plug-in electric vehicles on the road in the United States is increasing. Fully electric cars produce no tailpipe emissions. While charging the battery may increase pollution at the power plant, total greenhouse gas emissions associated with driving them are still typically less than those for gasoline cars – particularly if the electricity is generated from renewable energy sources. For every mile driven, the average cost to drive an electric car is typically less than half what it costs to drive a standard gasoline vehicle. Using an energy efficient, ENERGY STAR certified electric car charger adds to the environmental benefits and cost savings.
Find Incentives
Research incentives on electric vehicles and plug-in electric vehicles.
All-electric vehicle driving ranges are increasing, with some models able to drive more than 300 miles on a single charge. Depending on how far you drive each day, you may be able to meet all of your driving needs by plugging in only at home. The Fuel Economy and Environment Label, which you see on cars at the dealership, shows driving range and charge time. The label also shows the average annual fuel cost associated with the EV and the anticipated cost savings over five years compared to the average gasoline vehicle. In addition to fuel savings, fully electric vehicles have fewer moving parts and typically require less maintenance. Additionally, no emissions testing is needed.
Compare the greenhouse gas emissions associated with charging and driving an EV in your area using EPA’s Beyond Tailpipe Emissions calculator.
What type of charger do you need?
The answer to this question is based on the following factors: 1) How many miles do you drive every day? 2) Do you have a fully electric car, or is it a plug in hybrid (gas and electric).
For short range driving and plug in hybrid cars: If you only drive less than 40 miles per day, or if you have a plug in hybrid car, you can use a charger that plugs into a standard wall outlet (120 volt). These chargers will provide you with 2-5 miles of driving range for every hour of charging. These chargers are convenient and economical, but are limited in their output and the charging rate is slow. Using industry terms, these are called “Level 1 EV Chargers.”
For longer range driving and for fully electric cars: If you drive more than 40 miles per day, and you have a fully electric car, then you need a 240 volt charger. These chargers are larger and require professional installation, but provide 10-20 miles of charging range per hour of charging. Using industry terms, these are called “Level 2 Chargers.
EV Charger Type
Average Charging Rate
(per hour of charging)
Plugs into standard outlet (120 volt)
2 to 5 miles of range (depending on environmental conditions and battery charge %)
Requires heavy duty electrical circuit and plug (like an electric dryer) (240 volt)
10 to 20 miles of range (chargers wired to 50A provide even faster charging)
Choosing a charger that has earned the ENERGY STAR label means energy savings, safety, convenience, and Smart technology. Find ENERGY STAR certified electric vehicle chargers
Energy Savings: EV chargers are typically in standby mode (i.e., not actively charging a vehicle) for about 85% of the time. ENERGY STAR certified EV chargers provide the same functionality as non-certified products but use 40% less energy in standby mode, reducing their impact on the environment. If you have the option, charging your EV with green power (PDF, 172 KB). sourced from emissions-free electricity sources, offers additional environmental benefits.
Greater efficiency = more savings! When choosing an EV charger, it is helpful to note that Level 2 chargers provide higher charging efficiency and faster charging times when compared with Level 1 chargers. As shown in the table above, Level 2 charging is on average 10% more efficient than Level 1, while adding approximately four times more miles per hour of charging.
Safety: Not all EV chargers that are for sale are safety certified, including some from large online and storefront retailers. To ensure your charger meets safety standards, choose one that has earned the ENERGY STAR label. All ENERGY STAR certified chargers are tested for safety by a nationally recognized testing laboratory.
Smart Technology: Some ENERGY STAR certified EV charger models are connected, also referred to as networked, allowing for remote power monitoring and control of the charging state of the connected vehicle. These Smart grid ready products may qualify households and property managers to participate in special energy bill savings programs that may be offered by some local electric utilities.
EV owners ideally have access to overnight charging, in their driveway/garage or wherever they park their car. Without overnight charging, EV owners can charge at some workplaces, or use public charging.
Ask the dealer. Homeowners who are purchasing a new EV are typically offered a 120V charger (also called a cord set) as part of their vehicle purchase or lease, rather than having to purchase it independently. However, there are advantages to upgrading to a 240V charger, including faster charging times, which may be necessary to charge longer-range EVs overnight. When shopping for an electric vehicle, ask the dealer if they sell or work with electrical contractors that have ENERGY STAR certified EV chargers.
Electric Vehicle Incentives for Building, Businesses, and Parking Lots
Save when making your building or parking lot more attractive and sustainable with EV chargers. Get incentives to offset the infrastructure and operational costs of EV chargers at your building.
Electric vehicle adoption is expected to speed up over the next two decades—the US electric vehicles market is expected to reach 6.9 million unit sales by 2025. Property owners and managers need to be ready to meet the charging needs of the millions of new EV drivers expected to hit the road.
Top reasons to consider installing EV chargers:
- A Boast-worthy Building Dedicated EV charging is an amenity that can entice and retain residents, employees, or customers and demonstrate your commitment to sustainability. Plus, chargers help you earn points towards your Leadership in Energy and Environmental Design (LEED) certification.
- Turn Your Parking Lot Into a Paradise Emission- and noise-free EVs make underground and enclosed parking structures much more pleasant. Plus, parking spaces equipped with EV chargers have a higher revenue potential than those without.
PowerReady Light-Duty EV Charging Infrastructure Incentives
We’re offering incentives that can offset the electric infrastructure costs associated with installing Level 2 and/or Direct Current (DC) fast chargers for electric cars, small trucks, and vans under 10,000 pounds gross vehicle weight.
Applicants who meet certain program conditions can get incentives that cover up to 100% of the energy company and customer costs of installing level 2 or direct current fast-charging stations in designated “Disadvantaged Community” areas in New York City and Westchester.
Medium- and Heavy-Duty EV Charging Infrastructure Incentives
For vans, trucks, and buses with a gross vehicle weight greater than 10,000 pounds, we offer incentives for DC fast charging fleet chargers that cover almost all of the utility-side costs associated with bringing power to the fleet property.
DC Fast Charging Per-Plug Incentive
If you make your DC fast chargers publicly accessible you may be eligible for additional annual incentives. Learn
DC Fast Charging Business Incentive Rate
If you’re a developer or business owner, you may qualify for reduced rates for DC fast charging stations. Learn
Help Your EV Drivers Save Money
Help your residents, employees, or customers save on charging costs by telling them to enroll in SmartCharge NY. Learn
Stackable New York Incentives
Save even more with these New York incentives that can be stacked with other EV charging infrastructure savings.
- New York State Tax Credit for Public and Workplace Charging Get a tax credit of up to 5,000 for the purchase and installation of an electric vehicle charging station through the end of 2022.
- New York State’s Truck Voucher Incentive and New York City Clean Trucks Funding is available for the replacement of older, diesel-fueled vehicles.
- New York State Municipal Zero-emission Vehicle (ZEV) Rebate and Infrastructure Grants provides grants to cities, towns, villages, and counties (including New York City boroughs) to purchase electric vehicle supply equipment for public use. The maximum award for any facility is 250,000.
Savings for Commercial and Industrial Customers
Get cash incentives for installing energy efficient electric and gas equipment and technologies.
Savings for Multifamily Buildings
Find energy saving measures that could bring down costs in your building.
Electric Vehicle Charging Cost Calculator
Estimate your fuel cost savings and get help choosing the most cost-effective rate for your business.
Who can install commercial EV charging stations?
As electric vehicles approach 3% penetration of the car market, installing commercial EV charging stations attracts many businesses who want to increase their property value, employee satisfaction and customer count.
Ideal commercial prospects include:
Workplaces
Since people park at work more often than anywhere else except home, offering a charging station helps attract EV drivers as employees. In fact, according to the U.S. Department of Energy’s recent survey, 80% of employers with an EV charging station say that it has helped them attract and retain more talent. So commercial EV stations improve both companies’ sustainability and their business targets.
Business Districts And Shopping Centers
When Americans aren’t at home or at work, they’re often out shopping and eating. This includes EV owners, who naturally want to park where their cars can charge while they’re enjoying themselves.
Public parking lots, business districts, shopping centers, restaurants, and malls can install commercial EV charging stations to attract such shoppers. Customers may even linger longer (and buy more) as they wait for their EV to charge up!
Service Locations
Public buildings, hospitals and universities are often working towards sustainability goals and can receive LEED credits for installing an EV charging station. These prospects often have a large employee workforce and, as said above, can attract more talent with this environmentally friendly option.
Multifamily Living Spaces
Not all EV owners live in their own house – or want to. But a place without an EV station doesn’t meet their charging needs, driving them away from otherwise perfect living options.
Apartment buildings, condominiums, and other multifamily buildings can fix this drawback by installing EV charging stations. This not only increases their property value, but also draws in prospective residents with electric vehicles.
In many areas, new state and city regulations are accelerating charging station adoption. For example, the cities of Miami, Seattle and Chicago now mandate commercial properties above a certain size to offer EV charging. Installers operating in such areas can expect their lead lists to increase even more rapidly.