As the government facilitates EV adoption, the demand for public charging stations rises. Although public EV charger installation is necessary to meet growing needs. Various businesses, municipalities, and property owners are talking about the benefits of installing public EV chargers. But is it the right move for you? In this blog, we will discuss various advantages and challenges to consider when you install a charging station. In addition, it offers helpful insights to guide your decision-making process.
Why install an electric vehicle charger in a public place?
Pros of Public EV Charging:
- Increase Accessibility and Convenience to Attract More Visitors and EV Owners: Commercial EV chargers act as a magnet for EV drivers. Public locations such as shopping malls, restaurants, and hotels can attract more visitors. Likewise, property owners with EV chargers can also increase the appeal of rental spaces. EV drivers who care about the environment will appreciate them more.
- Boost Revenue and Get Customers to Stay Longer to Increase Profits: Therefore, this creates an opportunity for EV charger providers to earn additional income. Many public charging stations offer different payment options such as pay-per-use, subscription, or speed-based charging, etc.
- Support Green Initiatives and Sustainability Goals to reduce emissions: Another benefit is that slowly but surely, pollution in the environment goes down. This corresponds with green initiatives that aim to lower carbon footprints and promote environmentally friendly transportation. Moreover, governments and businesses are actively promoting sustainable development initiatives.
- Increases Property Value and Enhances Business Reputation: In addition, when this question arises, “How much does a public EV charging station cost?” Federal and state governments working together offer incentives, grants, and tax credits for EV charger installations. These programs reduce installation costs and boost investment.Furthermore, the value of commercial properties increases. You can future-proof your location. The EV charging infrastructure can make it more attractive for investors. In addition, commercial sectors are also interested in integrating EV-friendly solutions.
Therefore, you can improve brand image and customer loyalty. As the powering of electric cars takes time, often 30 minutes to a few hours, this means customers may spend more time, which can be utilized in shopping, dining, or using services, hence increased business revenue.
Key Points of Advantages:
| Main Point | Explanation/Benefits |
|---|---|
| Attracting EV Drivers | Commercial EV chargers attract EV drivers to malls, restaurants, and hotels. |
| Increased Foot Traffic & Revenue | Various payment choices for EV charger providers. More guests can mean more money-making possibilities. |
| Enhanced Rental Appeal & Property Value | Property owners can increase the appeal of rental spaces and make them future-proof. |
| Environmental Benefits | EV charges reduce emissions and carbon footprints, promoting sustainable mobility. |
| Government Incentives & Cost Reduction | The investment is more feasible with federal, state, and tax rebates on installation. |
| Improved Brand Image & Customer Loyalty | Attract eco-friendly guests and promote longer stays so they may shop, eat, and charge. |
What are the challenges of deploying commercial charge points?
Cons of Public EV Charging:
- Increasing growth of EVSE strains electrical grid infrastructure: Research demonstrates that U.S. Public Electric Car Charging Infrastructure has grown rapidly and provides details of “how many public EV charging stations in the US.” For instance, EV charging ports more than doubled between 2018 and 2022, and in 2021 alone, they rose over 60%.
The most recent report, which was published on February 12, 2024, points out that in 2023, the number of public electrical charging points reached 64,641.This rapid expansion of the market means there are needs for more resources and a wider network of commercial plugging locations.
- High Initial Installation Costs: However, Level 2 charging stations and DC fast chargers are deployed in the commercial spaces, which are expensive for the initial investment, but it can be a one-time hard investment. Regardless, how much does a public EV charging station cost? Well, it depends on many factors, like hardware, installation, potential electrical upgrades, charger type, and infrastructure needs. Except for this, there are network providers policies that also influence energy costs.
- Ongoing maintenance and repair services are necessary: Therefore, every project needs a monitoring service, which helps optimal performance and ensures that the system is running efficiently. But all this effort involves extra costs for repairs and servicing. In addition, total public EV charging station costs should include ongoing maintenance. The size, complexity, and unexpected issues of the system can affect these costs.
- Limited Grid Capacity and Infrastructure Upgrades: Moreover, some locations lack the electrical infrastructure for high-powered EV chargers. To power fast chargers, some properties may need expensive grid upgrades.
- Electricity Costs and Billing Management: Anyway, to evaluate “are public EV charging stations free or require payment,” users should check the specific station’s pricing policy. Before buying, consider all the costs of running an EV charging station.
- Difficulty in finding an available power station: Additionally, the availability of charging stations can vary depending on the area, which makes it difficult to find an open spot during peak times. Such a challenge can be encountered when searching for charging stations. This will increase range anxiety as well. Consider these potential issues before buying an EV charging station.
- Compatibility Challenges: Another possible difficulty to think about is whether or not specific electric vehicle models are compatible with specific charging stations. EV owners can be frustrated by this compatibility issue. To avoid any problems, do your homework and make sure the charging station is compatible with your car model. Make sure the station you pick can handle a range of vehicles to reach a wider audience.
Key Points of Disadvantages:
| Challenge | Description |
|---|---|
| Strained Electrical Grid Infrastructure | The rapid expansion of electric vehicle (EV) charging ports is putting additional strain on the electrical grid. |
| High Initial Installation Costs | Deploying commercial EV charging stations, such as Level 2 and DC fast chargers, requires a significant upfront investment. |
| Ongoing Maintenance and Repair Costs | Once installed, EVSE require regular monitoring, maintenance, and repair services |
| Electricity Costs & Billing Management | Running public EV charging stations involves managing electricity costs and billing systems. |
| Availability Challenges | In high-traffic areas, an available energy station during peak times can be difficult. |
| Compatibility Challenges | There can be compatibility issues between specific EV models and certain charging stations. |
Conclusion: Is Installing a Public EV Charger Worth It?
Installing a public EV charger has clear benefits, such as it brings in more customers, makes more money, and also it’s better for the environment. However, the investment comes with high upfront costs, ongoing maintenance, and potential regulatory hurdles. Industry sectors should look at the demand for a location, the incentives that are available, and the cost of doing business before making a choice.
If a business wants to add EV charging options, Xova Charging has the best EV chargers and can install them in a way that fits your needs. Contact us today to explore the best charging solutions for your location!