A Small Business Guide to Installing Electric Vehicle Chargers

Dear reader,

As an expert consultant for small and medium businesses, I‘m excited to see the rapid growth that electric vehicles (EVs) are experiencing. This shift brings tremendous opportunities for forward-thinking entrepreneurs to meet the escalating demand for EV charging infrastructure. My team helps clients navigate the process, weighing the costs, incentives, revenue potential, and ideal locations to install EV supply equipment (EVSE) chargers based on their specific business goals.

In this comprehensive guide, I‘ll share key insights on critical factors to consider, real-world advice, statistics, and examples to help you pursue EV charging investment confidently.

Understanding the Rising Demand

EV adoption in the US has grown from 2% of annual vehicle sales in 2020 to 5% in 2022. BloombergNEF projects EV sales rising to 60% of all US passenger vehicle sales by 2030 as more affordable models hit the market – translating to over 25 million EVs on roads.

As EV use surges, charging availability must expand rapidly to meet driver needs. For small businesses, this presents a lucrative opportunity to install EVSE chargers and attract this growing customer base. Whether located along highways, in urban centers, retail sites or office/apartment complexes, charging stations allow businesses to generate revenue through charging fees, drive more visitors to storefronts, or enhance services for employees and tenants.

Charging Station Costs and Revenue Potential

Equipment, installation, and operating costs vary widely based on charger type and location:

Charger Type Hardware Cost Installation Cost
Level 2 (240V) $300 – $1,500 per port $600 – $12,700
DC Fast Charger (480V+) $10,000 – $40,000 $4,000 – $51,000

With hardware and installations ranging from $1,000 to over $100,000, it‘s critical to size units appropriately for each location.

Potential revenue also depends significantly on station usage and fees. With public charges of $0.30-$0.50 per kWh, a 50 kW station averaging 10 sessions per day at 20 kWh per session can generate over $27,000 in annual revenue at just $0.35 per kWh.

Key Siting Considerations

Optimizing charger visibility and convenience is vital. The Department of Energy notes utilizing sites that are:

  • Visible: Easily seen from nearby roads and sidewalks
  • Accessible: ADA compliant with flat, spacious areas
  • Safe: Well-lit spaces in low-crime areas
  • Convenient: Near desired retail, dining and restroom access

Also examine electrical capacity, parking needs, signage limitations, and installation challenges like trenching requirements early when evaluating locations.

Ideally choose sites with opportunities to upgrade over time as demand grows. Consider starting with 6-10 Level 2 ports in prime spots, laying conduit for future DC fast chargers as utilization increases.

Incentives and Partnership Opportunities

There are often substantial incentives available to offset EV charging station costs, but these vary significantly by location. Be sure to research federal tax credits, state and local programs, and special grants or rebates through utilities or other entities. Some regions offer 50% or higher incentives, making installations very compelling, especially at sites with high use potential.

Investigate potential partnerships with EV charging networks too. Some firms fully fund hardware and operations for site hosts in exchange for managing the stations, simplifying ownership. Revenue share agreements provide ongoing income while avoiding upfront outlays and maintenance needs.

The Future is Electric

EV adoption is accelerating as chargers become more accessible. For SMB owners, this creates lucrative prospects to profit from the essential infrastructure supporting our electric transportation future. Reach out today to explore your options!

Best wishes,
[Your name] EV Charging Consultant
[Your website]