2022 has been a huge year for electric vehicles and things are only ramping up. Sales of electric vehicles have jumped 20% globally with revenues of $320B by the end of the year, and McKinsey reports that upwards of 400 new EV models will be unveiled by the end of 2023. Additionally, electric vehicle (EV) infrastructure deployment plans have been approved by the Biden-Harris Administration for all 50 States, the District of Columbia and Puerto Rico under the National Electric Vehicle (NEVI) Formula Program. This comes ahead of schedule, making $1.5B available immediately to help develop the nation’s EV infrastructure by building new charging stations along 75,000 miles of highway.
With the rising cost of gasoline, some, like Protocol.com, are even predicting that 2023 will be the “Year of the Electric Vehicle.” While all this is great news for EV drivers it also provides amazing opportunities for business and property owners with space for Level 2 EV charging stations. Let’s take a look at what sets this type of charging station apart, and why right now might be the best time to strike for introducing them to your property.
Why Choose A Level 2 EV Charging Station?
As it stands there are three different levels of EV charging stations currently available on the consumer market. There are Level 1 chargers, Level 2 chargers, and DC fast charging stations, sometimes called a Level 3. For a detailed breakdown of each station’s features and benefits, you can check out our full explanation HERE, but, in short, Level 1s are the most economical, but they also have the slowest charge time. DC Fast Chargers are by far the fastest, but are not as economical or abundant. Level 2 charging stations, however, are the most common, supply much more power than a Level 1 charger, and are much more affordable than a DC charging station. This makes them the optimal choice for businesses and retailers looking to provide added incentives to current customers, or to introduce an added draw to new customers.
What Defines A Level 2 EV Charging Station?
Cars.com calls the Level 2 Charger “the most useful” of charging stations. It’s the most common and universal type of charging station and is ideal for places like apartment complexes, parking lots, office buildings, shopping malls, or retail businesses. Level 2 chargers use a 208 to 240-volt alternating current (AC) system and can fully charge an EV in 1 to 11 hours (up to 10x faster than a level 1 charger), depending on battery capacity.
Why Your Business Needs An EV Charging Station Now
The EV revolution has been quietly picking up steam for over a decade now, but it is now approaching its time in the sun. More and more automakers are developing affordable electric vehicles, and this is going to make them even more available than they already are. California, a state that in the past has set the tone for the rest of the country in regards to emission standards, plans to phase out sales of new vehicles powered by internal combustion engines by 2035. Based on past examples, many states will follow suit and make way for more zero-emission vehicles in every state. And where there are electric vehicles, there is a need for electric vehicle charging stations. Installing EV charging stations at your business sooner rather than later has many benefits. Here are three for you to consider:
- Available Funding
There is ample funding for every state from the Biden-Harris Administration specifically for the development of statewide EV infrastructure. This money will not be available forever, and once it’s gone it’s gone, so it would behoove a business owner to utilize what is available now rather than go out of pocket later.
- Less Competition
Not every business has EV charging stations at the moment. Installing a station now establishes you as a destination for EV drivers, shows a commitment to green energy, and potentially makes your business a go-to spot when customers need to charge while shopping or conducting other business. Hosting a charging station can also get you some free advertising, because you may be added to charging station location apps. This can bring new customers into your business, as well as improved name recognition locally and with travelers.
- Early Investment For Long-Term Payoff
Adding a charging station now allows a business owner room to experiment before the full wave of the EV boom really hits. This allows time to iron out kinks and to see how much traffic your business receives and what changes will be needed from the influx of EV driving customers. It also gives you time to figure out the volume and location for additional charging stations in the future.
We provide the easiest way to get charging stations at your business. HiON installs and maintains stations at low-to-zero cost to business or property owners. Just provide the space, and we handle the rest.