The increasing popularity of EVs and plug-in hybrids has led to a major increase in the demand for electric vehicle charging stations in Minnesota and the rest of the country, and this will only increase in the coming years. Installing Level 2 or Level 3 EV charging stations for your business can be a significant expense. At the same time, it can also be a great investment in your company’s present and future for several reasons.
Increased Visibility and Customer Attraction
Commercial EV charging stations are an excellent choice for many businesses. One reason is that they will entice EV owners to visit the establishment, allowing it to attract additional customers and increasing the chances of gaining repeat business. Studies have shown that a sizable percentage of EV owners are more likely to do business at places where they can charge their vehicle at the same time. Most people who use Level 2 charging stations charge their vehicle for at least an hour, giving them plenty of time to spend a
t nearby establishments. This increased time is why studies have also shown that commercial EV charging stations often lead to a direct increase in consumer spending.
Another thing to note is that many EV owners use an app that shows all the charging stations in the area, so they know where they can charge their vehicles whenever they need to. Having your business’s charging stations listed is an easy and effective way to increase your visibility and make more people aware of you.
Added Revenue Stream
Installing commercial EV charging stations can also create an excellent source of passive revenue for your business, allowing the charging stations to pay for themselves over time. It is true that some businesses choose to offer complimentary EV charging to attract and reward customers.
Nonetheless, you can opt to monetize your charging stations and charge people by the kilowatt hour or the amount of time their vehicle is plugged in. Another option is to create a membership model where people pay a monthly or yearly flat fee. This has been proven to be quite effective at generating repeat customers and rewarding them for their loyalty.
If you’re considering monetizing your charging stations, installing Level 3 DC Fast Charge stations is usually the best way to go. These allow drivers to charge their vehicles in only 20 minutes to an hour, which is much more appealing than having to wait a few hours to charge with a Level 2 station. That means you’re much more likely to attract people on road trips or those who need to charge in an emergency. You can also get away with imposing higher rates for Level 3 stations than you typically can for Level 2 charging.
Cost Savings and Reduced Overhead
Any company with a fleet of vehicles can also greatly benefit by choosing to electrify their fleet and installing on-site EV chargers. It’s a simple fact that the cost per mile to drive an EV is much less than it is for a combustion vehicle, allowing you to cut back on fuel costs and lower your overhead. There are also various incentives that can help to save on the costs of upgrading your fleet to EVs.
Increased Sustainability
More and more people are focused on sustainability and trying to do their part to protect the environment. Installing EV charging stations for customer use is a good way to show that you’re committed to doing your part. This can allow your business to stand out from your competitors and help attract the more eco-conscious clientele. Upgrading your fleet to EVs can have the same effect.
Employee Satisfaction and Retention
Having on-site workplace EV charging stations can also be helpful in terms of employee attraction, satisfaction and retention. Offering free on-site charging is an added perk for employees who drive EVs or are considering buying them. Even some non-EV owners will be more likely to want to work for and stay with a company that displays an obvious commitment to sustainable practices.
As one of the most trusted electrical contractors in Minnesota’s Twin Cities area, 4Front Energy is the company to call when you need commercial electrical services. We install EV chargers for businesses in a wide range of industries and can also handle the rest of your electrical needs.
For more information about your commercial EV charging options, contact us today.
