Summary
Early investment in electric car charging stations positions your business for incredible short—and long-term success. It increases customer attraction and helps fulfill your corporate sustainability goals. It also contributes to business growth by providing an additional revenue stream and government tax credits.
Table of Contents
Introduction
Transportation in the United States is transforming with the rapid adoption of electric vehicles (EVs). Consumer preferences towards zero-emission vehicles coincide with an anticipated rollout of more affordable models. Businesses can capitalize on this trend by installing electric car chargers in anticipation of the increasing charging demands.
As a business owner or executive, you risk losing customers, employees, and tenants if you fail to provide efficient electric vehicle (EV) charging options.
This article explores the benefits, use cases, and electric vehicle charger installation requirements.
Understanding Electric Car Charger Installation for Businesses
If you’re planning on installing electric car chargers on your business premises, you must understand the process, management procedures, and key infrastructure necessary for the installation.
Setting up a commercial electric vehicle charging station can contribute to the growth of your business and fixed assets. The additional revenue from the business allows you to expand your business profile and improve development, not to mention government and institutional incentives and credits such as the NEVI program.
However, installing commercial EV chargers requires significant cash outlay. The average cost of installing public EV chargers ranges between $50,000 to $100,000. Therefore, you must have an accurate understanding of the financial considerations, business advantages, and installation process involved.
As the electric vehicle (EV) charging industry is still relatively young, the earlier you adopt a commercial EV charging template for your business, the greater the rewards in the short and long run.
Benefits of Installing EV Chargers for Businesses
Whether you operate a small business or a large corporation, installing EV chargers presents a unique opportunity to grow your customer base, finances, and business reputation.
1. Attract Eco-Conscious Customers
As more people adopt electric vehicles (EVs), having a commercial electrician install an electric car charger on your premises sets your business apart and gives customers a practical reason to visit and stay longer.
2. Corporate Sustainability
Demonstrating your commitment to corporate sustainability can help you build trust with customers, employees, and business partners. Having an EV charger on your premises is an excellent way to let stakeholders know that you care about environmental sustainability.
3. Grants, Credits, and Incentives
Installing an electric car charger is expensive, but numerous government and utility company initiatives can lower the initial investment cost and improve your bottom line. Some of these initiatives offer grants and tax credits to businesses willing to install commercial EV chargers on their premises.
4. Fees for Charging Services
Electric vehicle charging is not free, and your customers know that. Setting a payment structure for electric car chargers helps create a steady revenue stream that can contribute to business growth.
5. Higher Property Value
Electric vehicle charging services are a premium amenity desired by most renters. This allows you to charge a higher lease fee. Additionally, the added feature can significantly increase the market value of your property, as potential buyers will see it as an opportunity that cannot be passed.
How to Install an Electric Car Charger for Your Business
Installing an electric car charger for your business is a significant undertaking, so you must understand some basic steps to ensure the installation is successful.
1. Get Internal Buy-In
You might not need this part if you own your business and are the sole decision-maker. But if you work for an organization, you’ll want to secure support from key stakeholders on the new investment. Make the case for EV chargers regarding sustainability and their contribution to business revenue and eventual growth.
2. Partner With a Solutions Provider
Choosing the right EV charging solutions provider is the most important part of the process, as the decision has a significant impact on the project’s success or failure. With an experienced and reliable solutions provider such as Tercero Inc., you can easily navigate questions about equipment choice, electrical upgrades, charger location, and installment timeline. We also provide ongoing equipment support and maintenance.
3. Site Assessment
In this phase of the installation, your solutions provider will conduct a feasibility study on the site. The study will determine the current electric system and if an upgrade is necessary. It will also address key issues such as permits and building regulations, charger location, size, total budget, and the plan for financing the installation. Depending on the size and scope of the project, this process can take 2 to 4 weeks.
4. Site Development
During the site development, your solutions provider will start making construction plans. They will submit site plans, incentives, and financing applications to the appropriate authorities for approval. They will also work with utility companies and local authorities to secure building and zoning permits.
5. Engineering, Procurement, and Construction
In this phase, your plans start to come together. Your provider will begin construction on the site and prepare to install your electric car chargers. When the equipment arrives, they will connect everything and ensure it works correctly. Additionally, inspection will verify the safety of the entire operation and ensure that regulatory standards are observed during construction.
Case Studies: Success Stories of Businesses That Installed EV Chargers
The ideal locations for installing commercial electric car chargers include multi-unit dwellings, office buildings, service centers, airports, retail stores, etc. Here are some examples of businesses that have successfully installed EV chargers.
- Phoenix Sky Harbor International Airport offers reliable and efficient level 2 charging solutions, improving their service offerings and enhancing customer satisfaction.
- Given its proximity to popular travel spots, Hyatt Place offers efficient and cost-effective level 2 charging solutions to its customers. This approach to customer satisfaction has improved its reputation, and more customers flock to its business.
Conclusion: Why 2025 is the Best Time to Install Electric Car Chargers for Your Business
The time to install electric car chargers for your business is now when there are still incentives and financial support to reduce the investment burden. Early investment also lets you stay ahead of impending legislation, tightening the system and effectively reducing its impact on your business. Contact Tercero Inc. to learn more about installing electric car chargers and making them a worthwhile investment.
FAQs
Falling battery costs, vehicle-to-everything (V2X) technology, vehicle-to-grid technology, and smart charging are the most significant factors affecting the electric vehicle (EV) industry 2025.
Yes, you can make money by charging customers a fee. The additional foot traffic and the time customers spend charging can also influence their desire to patronize your other products.
Technology advancements are expected to make charging faster and more efficient. EV batteries will also be more affordable, facilitating the rollout of cheaper cars.
You start an EV charging business by gaining the support of your company’s investors and stakeholders. Then, you partner with a reliable solutions partner like Tercero Inc. for procurement, site assessment, construction, installation, and maintenance of the chargers.
EV charging stations can be a wise investment for business owners. They can generate additional revenue and improve their reputation.
Installing an electric car charger can attract eco-conscious customers, increase foot traffic, and enhance your business’s reputation as a sustainable and forward-thinking company.
Any business that serves customers who drive electric vehicles (EVs) can benefit, including shopping centers, restaurants, hotels, office buildings, and parking garages.
The number of chargers needed depends on your business type, customer traffic, and available parking spaces. A good starting point is to install one or two Level 2 chargers.
The cost varies depending on the type of charger, installation complexity, and local labor costs. A Level 2 charger installation can cost between $5,000 and $10,000, while DC fast chargers can cost up to $100,000.
Yes, it is highly recommended that you hire a certified electrician with experience in EV charger installations to ensure a safe and compliant installation.
