The ability to charge a car—something that may have seemed so far-fetched years ago—is now picking up steam throughout the United States. The question is, is your business keeping up with this electrifying trend?
Research shows that there are more than 1 million electric vehicles (EVs) were in operation on America’s roads and highways and over 3 million globally. And new models of EVs are entering everyday. In other words, if you haven’t introduced an EV charging station at your business parking lot yet, you’re losing on several levels.
But where do you start? Fortunately, that’s where EV Connect comes in. Here’s a look at how EV Connect can help you to start tapping into the power of EV charging stations by choosing the right EV charging station business model to implement this year.
The Pay EV Charging Station Business Model
If you own or operate a parking lot, why not generate money from it? That’s the thinking that many business owners across the country have adopted, hence the popularity of the pay EV charging model.
Owners of EV charging stations typically charge anywhere from 39 cents to 79 cents per kilowatt hour or anywhere from four cents to six cents per minute depending on their states and on their customers’ membership statuses (those with membership cards get discounts). The benefit of using a paid EV charging model is that you can generate more money from your existing lot. Of course, the goal here is to generate enough revenue to more than break even given your costs of installing and operating the equipment.
Attracting the Best Customers
Adopting the pay EV charging business model offers yet another advantage for your business. As a general rule of thumb, most EV drivers have earned advanced degrees and own their own homes, and about half of them earn six-figure incomes. Clearly, these are the types of consumers you want patronizing your business.
By offering pay EV charging stations, you can attract brand-new, loyal customers from this demographic—customers who are eager to support your ahead-of-the-curve efforts in the area of electric mobility. The more they frequent your business simply because you offer EV charging, and the more time they spend at your business as their vehicles charge, the more money you can make indirectly from your company’s charging stations.
The Public Relations EV Charging Station Business Model
Some companies employ the public relations EV charging station business model, where the main purpose of installing EV charging stations is essentially to demonstrate how important they feel environmental stewardship is. This is an excellent move if you’d like to enhance your company’s eco-friendly position and set a positive, forward-thinking tone for the company.
In addition, charging stations may help you to achieve Leadership in Energy and Environmental Design (LEED) certification—another reputation booster. They might also help you to draw more environmentally conscious employees and serve as a perk that many other employers have not made available to their own staffs.
Tax Credit Benefit
The best part about offering EV charging? Businesses qualify for federal tax credits as high as 30 percent of their EV charging station installation and purchase prices up to a total of $50,000 per year. So, you can receive some of your investment back in the end.
Experience the Benefits of the Perfect EV Charging Station Business Model Now!
Whether you are interested in the pay, public relations, or free EV charging station business model, now couldn’t be a better time to add EV charging stations to your business parking lot. EV Connect can help you to get started by assisting you with the installation and management of the right charging stations. Contact us today to find out more about how these stations can benefit not only the environment but also your brand and your bottom line long term.