The demand for electric vehicle (EV) charging stations is growing: Is your business ready to become part of the solution?

As more and more consumers choose electric vehicles, the need for accessible and efficient charging infrastructure has grown. To meet that need for their customers, residents, and staff, many businesses, multi-family housing facilities, and other organizations have begun to install EV charging stations.

If you are considering installing EV charging stations at your business, it’s important to think through the pros and cons before you begin your project. 

Pros of Installing EV Charging Stations at Your Business

Attract Eco-Conscious Customers and Employees

For electric car owners, finding charging stations can be anxiety-inducing (this is often referred to as “range anxiety”). Even though the range of newer electric cars is improving, the idea of being stranded without a power source can be stressful. And while the number of charging stations is on the rise, EV infrastructure is not nearly as extensive as that of gas stations.

In addition, EV charging stations are a draw for eco-conscious customers and employees alike…even if they don’t drive electric vehicles. Having charging stations is a sign that sustainability is important to your business, and eco-conscious consumers like to see that. 

Boosting Your Brand’s Sustainability

If you’re looking to implement more sustainability and reduce your carbon footprint, installing EV charging stations can help you do that.

Electric vehicles help reduce the use of fossil fuels, reduce greenhouse gas emissions, and improve air quality in the surrounding area. When you provide charging infrastructure, you make it easier for customers and employees to use EVs. You also show that your business values sustainability, which can boost your public image among eco-conscious consumers.

In addition, EVs can be charged with renewable energy sources, such as solar power, further reducing your carbon footprint.

Increasing Foot Traffic and Customer Retention

The time it takes an EV driver to charge their vehicle is time they can spend in your business. When you provide charging options for EV drivers, they are more likely to browse, shop, or dine with you, driving up your revenue.

In fact, according to a study by MIT, having EV charging stations can boost customer spending at nearby businesses by up to 37%!

Customers who know you have charging stations available are also more likely to visit your business repeatedly, increasing customer loyalty and retention.

Financial Incentives and Rebates

Finally, businesses with EV chargers benefit from several types of financial incentives.

For example, you could charge a fee for customers to use your charging equipment. Or, if a direct charge isn’t your style, you could offer charging only to customers and employees of your business as a perk.

In addition, there are several government incentives and rebates available at the local, state, and federal level for companies who install EV charging stations:

• The federal government offers grant funds for EV chargers, as well as loan financing programs and tax incentives
• Many states offer rebates and other incentives when you install chargers with funding from the National Electric Vehicle Infrastructure (NEVI) Program
• Some utility companies also offer EV charging incentives to promote EV adoption (check with your local utility provider for any incentives they offer)

Each incentive program may have specific requirements related to the location of chargers, type of charging hardware, and which organizations are eligible for funding, so make sure to read the fine print to ensure your project qualifies.

Cons of Installing EV Charging Stations

Upfront Installation Costs

One of the biggest obstacles to installing EV charging stations for many businesses is the cost of installation. Due to the complex nature of charging equipment, installation typically requires professional help to ensure the system is set up safely and correctly. When you add up the cost of equipment, labor, and other expenses (such as backup power generators), the initial investment can be high.

However, the incentives and rebates listed above can help decrease that cost and make installing EV chargers more achievable for businesses.

Ongoing Maintenance and Upkeep

In addition to the cost of initial installation, you will also need to consider the cost of maintenance and upkeep. As with any technology, regular maintenance and upgrades help ensure optimal performance and reliability of your equipment. Without routine maintenance, you could be plagued with failing equipment and downtime, reducing the value of your investment.

Space and Location Limitations

Another thing to consider before you install EV charging stations is location and space.

Not all locations are suitable for installation. Without proper planning, a charging station can contribute to traffic congestion. It’s important to strategically place chargers to help alleviate potential traffic problems.

In addition, charging stations require dedicated parking spaces, which can reduce the number of regular parking spots you have available for customers or staff. If you already have limited parking available, this could be a big concern.

Finally, you’ll need to ensure the space you choose to install your equipment has access to existing electrical infrastructure with enough electrical capacity to support EV charging.

How APPRO Development Can Support Your EV Charging Station Installation

If you’re considering installing EV charging stations at your business, it’s important to first evaluate your unique needs and determine whether charging stations align with your long-term goals.

Then, reach out to APPRO Development for help with:

• Site assessment and planning. We’ll help you determine if your site is appropriate for EV chargers as well as ideal placement options.
• Infrastructure development. We’ll help you ensure you have the infrastructure you need to support your new EV charging equipment.
• Expert installation and long-term support. We’ll provide the expertise needed to properly install your equipment and ensure it lasts.

Our experienced team is ready to guide your business efficiently and effectively through the process of installing EV charging stations. Contact us to get started.