3 Key Benefits of Installing EV Charging Stations for Businesses
This blog post has been updated on June 10, 2025.
Are you on the fence about installing an EV charging station at your place of business? While you may be concerned about the costs involved or if drivers will use your service, it’s essential to consider the potential growth in electric vehicle (EV) popularity under the current administration.
A recent report from Cox Automotive shows that U.S. electric vehicle sales hit nearly 1.2 million in 2023, up 46% from 2022. This significant growth trend continued in 2024, with EV adoption accelerating faster than public charging infrastructure could keep up. With the advent of plug-in hybrids like Toyota’s new hybrid RAV4 and the plug-in Prius, more consumers than ever before are seeking EV charging stations and readily available EV infrastructure to keep their vehicles moving.
As of 2024, the U.S. has around 168,000 public charging ports. Experts estimate millions will be needed by 2030 to meet growing demand. This gap represents a significant opportunity for forward-thinking businesses to gain a competitive edge.
With that in mind, let’s consider three key advantages of installing an EV charging station at your place of business.
Showcase Your Commitment to Sustainability
According to an IBM retail report, more than half (57%) of consumers are willing to change their shopping habits to reduce their environmental impact. As consumers seek out eco-friendly businesses, installing EV charging stations in your parking lot is like posting a sign that says you care about sustainability. However, unlike a sign, EV charging stations are more than just lip service. They serve a purpose for your customers.
Attract Eco-conscious Customers
If your business sells eco-friendly goods or seeks to attract a clientele that cares about the environment, EV charging stations can incentivize customers to shop with you. According to a 2024 study by MIT, the presence of EV charging stations can boost customer spending at nearby businesses by up to 37%, particularly for Level 2 chargers installed near retail and entertainment locations.
Business owners can recoup their installation costs and, of course, earn revenue for the charging stations by billing customers for their use. But in many cases, increased profitability emerges when the EV charging stations attract customers to a business — especially a restaurant or retail location — and encourage them to stay longer.
Even with sophisticated onboard entertainment systems and media streaming capabilities in some EVs, if you have an enticing business, shoppers are likely to get out of their cars and stroll around in your store while they wait for their vehicle to charge. Some studies have shown a positive correlation between the time spent in clothing stores (specifically), and the number of items purchased, along with an increase in impulse purchases. For landlords and building owners, installing EV charging stations in a strip mall, shopping mall, or other multi-store retail location can attract businesses, which, in turn, attracts more customers and can help a shopping center to thrive.
Earn Revenue By Installing EV Charging Stations at Your Business
With EV charging stations in such high demand in some areas of the country, it’s a no-brainer to bill users for the service. According to Stable Auto Corp., the average utilization of non-Tesla fast-charging stations in the US doubled from 9% in January to 18% in December 2023, demonstrating the rising demand for charging infrastructure. This surge in utilization indicates that many charging stations are becoming profitable for the first time. By taking advantage of federal, state and local EV charging incentives, you can dramatically reduce your EV charging stations’ cost to see profits faster.
Panda Restaurant Group first installed EV charging stations in its corporate headquarters in 2010 to serve its corporate fleet. Eventually, they expanded to add an additional 30 charging stations to serve employees and visitors to the complex.
By establishing billing through the EVConnect app, Panda Restaurant Group raised funds for its Panda Associates Assistance Fund. The EV Connect app also gave Panda employees access to a networking of chargers beyond the corporate headquarters, which helped recruit and retain employees while increasing the revenue stream for Panda.
Prepare Your Business for the Future
Under current tax legislation, businesses can receive up to 30% (up to $100,000 per charger) on EV charging equipment installations through the Alternative Fuel Vehicle Refueling Property Credit.
As more people embrace a cleaner future, you can position your business ahead of the curve with EV charging stations while realizing tremendous benefits that include enhanced profitability. Reach out to EV Connect today to see how we can help!