As a business owner, you may or may not have already considered the benefits of installing electric vehicle charging stations on your commercial property. Thoughts like, “What kind of value does offering this type of service bring to my business?” or “How can providing EV drivers with a safe place to charge help my business succeed?” might be floating around in your head or in business meetings. With the EV boom in full effect, more and more auto makers are dedicated to ditching fossil fuels by 2035. Even luxury brands like Bentley are getting on board and moving towards 100% zero-emissions with their Flying Spur hybrid lines, and all electric prototypes like their EXP 12 Speed 6e.
As the Biden-Harris administration continues to roll out the expanding nationwide EV infrastructure, and the electric vehicle revolution gains momentum, there has never been a better time to consider joining the movement by adding EV charging stations to your business. With relatively low risk, the potential rewards are high and many.
Here Are Our Top 5 Reasons Your Business Should Host An EV Charging Station
1. Put Your Business On The Map
Visibility for any business is always important. To conduct business, you need customers, and you need those customers to be able to discover you. Finding ways to do this can be an expensive drain on your marketing budget. By installing EV charging stations on your property, your business has a shot at being added to an EV Charging database that makes your business easy to find for EV drivers. The best part is that this is entirely free to you. Charging stations are searchable on navigation from places like Apple and Google, as well as various other online charging station databases. The ability to be found through these services yield some added bonuses as well. For instance, the bulk of electric vehicles up until the past 2 years have been largely luxury vehicles. 56% of EV drivers in 2020 were from households earning over six figure incomes, so by adding charging stations, you could potentially draw the eyes of customers with more than average disposable income.
2. Boost Customer Traffic
Building your customer base is another perennial desire for business owners, and installing an EV charging station may be a great way to do this. Not only can new prospective customers find your business through EV Charging Station databases, but you’ll also enjoy the added foot traffic that comes with the drivers and passengers who need to burn some time while their vehicles charge. According to transportation.gov, it can take up to 6 hours for battery electric vehicles (BEVs) to fully charge at a level 2 station, and up to 2 for plug-in hybrids. Direct current fast charging stations can replenish a vehicle in under an hour, which is a lot of time for a captive audience to discover your business. A charging station also provides the added bonus of potential repeat visits from EV-driving customers that choose your business over alternatives that do not provide charging options.
3. Financial Incentives and Tax Breaks
Along with the potential boost in revenue from an influx of new EV driving customers, there are also additional financial incentives available to businesses for installing charging stations. President Biden is committed to the promise of building a national network of 500,000 electric vehicle chargers by 2030, and to facilitate this, his administration has made $5 Billion in funding available through the National Electric Vehicle Infrastructure (NEVI) Formula Program. As of August, 2022, all 50 States have submitted the plans required to unlock the first round of this funding, which means there is money available in every state as well as in Puerto Rico and Washington D.C. Furthermore, the signing of the Inflation Reduction Act has extended the available federal tax credit on EV charging equipment through 2032. To find out more, your area government or utility provider can help answer questions and educate you on local EV charging programs.
4. The Right Time Is Right Now
Timing is everything, and there truly has never been a better time to install an EV charging station at your business. Along with the aforementioned reasons, the simple fact is that the world is at the cusp of the EV revolution. More automakers are investing in new EV designs and President Biden is committed to making these vehicles as easy to use as their gas-powered counterparts. Installing a station now shows foresight and a commitment to a green future. If they have a good experience, customers will likely return to your business property whenever they need a charge. Simply put, It’s better to establish this service early, rather than to wait and be left behind.
5. HiON EV Makes Hosting An EV Charging Station Painless
Partnering with HiON EV is a great option, because we install and maintain stations at no cost to business or property owners. We also handle all permitting, construction, and commissioning needs. You merely supply the space, and we handle everything else.