Still undecided about the wisdom of installing electric vehicle (EV) charging stations at your place of business? Learn more about the benefits of EV charging stations, including customer attraction and retention.
After several years of gradually growing interest, the tidal wave of electric vehicles (EV) on the market at large is finally being felt. Naturally, it follows that organizations in a wide range of industries — from transportation and retail to convenience stores and restaurants — should consider business EV stations.
It’s impossible to ignore the growth of EVs, and their supporting elements, across the world. Some forecast sales for EVs in the US to increase 70%, year over year, for 2021. Government regulations requiring emission reductions for car manufacturers, as well as greater concern for the environment from the public at large, have increased the desirability of electric vehicles.
That interest will only continue to grow as both manufacturers and governments around the world continue to make electric vehicles a priority. Carmakers have announced more than $300 billion in electric and battery technology investments over the next five years. Recently, six major automakers and 30 countries announced they’ll phase out sales of new vehicles powered by gasoline or diesel.
As EVs become more prevalent, the need for EV charging stations will rise as well. Many organizations have already started to add such stations to their facilities and are quickly realizing the benefits associated with doing so. Let’s examine a few reasons why adding business EV charging stations should be considered, no matter your industry.
Discover the Benefits of Adding Business EV Charging Stations
While the initial cost of implementing charging stations can be a prohibitive factor for many businesses, the beneficial aspects of adopting the forward-thinking technology can help realize substantial ROI for the investment. Whether you operate a large office complex, organize a large commercial fleet, or want to attract more customers to a retail location, business EV charging stations can help you realize savings over the long term and generate additional revenue.
Increase Customers’ Shopping Window
Charging an electric vehicle doesn’t happen instantly, and takes time — just like any other battery operated device like a phone or tablet. These charge times vary, but all of them open the door for a customer to spend more time in your store or facility while ‘refilling’ their battery. Research has shown that the typical time for a convenience store fill-up is 2-3 minutes; Meanwhile, electrical vehicle owners will often spend around 50 minutes inside or at an establishment while using a business EV charging station.
This increased ‘dwell time’ leads to more browsing, and ultimately more spending at the location. When EV owners know they can charge their vehicle, and get shopping done, at the same time at the same location they’ll be more likely to visit or return to your business. Attracting a loyal customer base will affect your bottom line in a positive manner.
Use Rebates to Subsidize Initial Investment
The initial cost is one of the hurdles businesses must deal with when adopting EV chargers. But this obstacle is easier to navigate thanks to federal and state tax credits and utility rebates designed to encourage a navigation toward cleaner energy initiatives.
Currently, the federal government is offering up to $7,500 in tax credits for the purchase of PEV (Plug-in Electric Vehicles) and a 30% tax credit up to $30,000 for EV charger hardware and installation costs. In addition to these federal incentives, most states are also offering utility rebates and tax credits, which increases your potential savings even more. When developing your own EV charger installation plan, working with a dedicated program management team will help in identifying and capitalizing on these benefits.
Attract and Retain New Customers and Employees
More than ever, both customers and potential employees will take into account a company’s environmental initiatives and commitment when looking for a place to work or apply their purchasing power. When you supply an EV charging station, you’re presenting a tangible perk to employees while also positioning your business as environmentally conscious and your brand as committed to positive change.
These are all factors in how your organization is perceived, both by the customers you wish to attract and the talent you want to employ. With labor shortages the norm across many industries, any potential differentiator should be explored. As the rate of electrical vehicles on the roads increases, the addition of EV chargers will become a must-have amenity — instead of a luxury.
Spark your EV Charging Initiatives: At Stratus, learn how we address every aspect of implementing a successful EV charging station to help you realize ideal solutions.
Stratus Helps You Prepare for the Future
The question now isn’t if electric vehicles will be a major market consideration, but if your business is prepared for it. Proactive organizations will work now to find capable partners to help them install business EV charging stations to help stay ahead of the curve and begin realizing bottom-line benefits.
As one of the leading brand implementation companies in the U.S. and Canada, Stratus is equipped to support every aspect of your business EV charging station initiative. Our project management team will help you determine compatibility with Level 1, Level 2, or DC fast charging stations and also provide recommendations for charging ports based on preferences. Our expertise can help guide power source solutions as well, be it renewable energy or use of the existing power grid.
Our field partner network ensures we’re able to manage multiple installations at once, whether you have a few dozen or a few hundred — across one state or several. With our signage division we’ll create virtually all signage for your EV charging program, from brand-consistent signage across every location to important wayfinding signage to aid in the operation of the stations. Our energy services team will partner with you to help you determine the right lighting solutions to use for your stations and conduct energy audits to help you keep your energy costs down. We’ll also support you with all electrical installation, such as running power to the station and more.
Connect with our team today to learn more about how we can provide infinite possibilities and ideal solutions for your business EV charging state implementation.