How EV charging stations can benefit your business
Electric vehicles (EVs) are said to play a part in the mission for the European Union and its member states to reach their net zero targets by 2050. Just ten years ago, however, electric vehicles were hard to find on the roads. Slowly, though, people are coming around to EVs. There are over 10 million electric vehicles on the roads of the world – and if existing and enhanced policies continue to encourage electric vehicle ownership, there may be up to 145 million cars by the end of this decade. In June 2021, one-in-ten new vehicle registrations in the UK were battery powered (or hybrid) cars.
Businesses are catching on to the electric vehicle wave, and it may be businesses that help spur on further the expansion of the electric vehicle market. The lack of charging stations has been a stumbling block for many potential EV buyers over the past decade. Businesses can help remove this block by having EV charging points located on their premises. Businesses get increased footfall, people become keener to drive EVs, and the net emission of greenhouse gases lowers as a result. It’s a win-win-win scenario.
There is growing interest in electric vehicles
Public interest in electric vehicles is growing rapidly. According to a 2021 report by the International Energy Agency (IEA), the number of electric car registrations increased by 41 percent globally in 2020, bringing the total number of battery-powered vehicles on the world’s roads to 10 million. This is despite the COVID-19 pandemic and a drop in standard car sales around the world. The report pointed to these three reasons for the strengthening sales and interest in electric vehicles: supportive regulatory frameworks, additional incentives, and a diverse catalogue of electric vehicles on the market.
The growth of charging stations across the UK (and in other countries) quells previous concerns of limited locations to replenish the car’s batteries and thus encourages consumers to choose electric vehicles. Services like Zap Map and Open Charge Map help drivers locate EV charge points in the UK and Ireland (and beyond).
Makes and models of electric vehicles are expanding
The makes and models of electric vehicles are expanding too, making for a new competitive market in which automobile makers compete. This has led to the production of more affordable models in addition to the luxurious options.
While initial purchasing costs of EVs can be quite high considering the price of the vehicle and the installation of a home charging station, consumers are discovering the long-term savings to be had with electric vehicles. In the UK, it costs an average of £4–6 for 100 miles worth of charge if charging from a home station, or £8–10 for 100 miles worth of charge if charging from a public station. Compare these price ranges against the average of £13–16 per 100 miles for petrol or diesel cars, and you can see how much money can be saved with electric vehicles.
Better battery technology is running up the lifespan of electric vehicles. Many EV models have battery pack warranties that last between 8 and 10 years, or between 100,000 and 150,000 miles, which is the average lifetime usage of the car for the first owner.
How can EV charging stations benefit your business?
Research shows that consumers care greatly about a company’s environmental reputation. The visibility of EV charging stations on your premises is a nice (warm and) green welcome for EV-driving customers – both existing and new – to visit your company.
You could influence how long people stay at your business too. EV charging stations vary in charging power, from fast, to rapid, and slow. Customers could stay in your business throughout the duration of the charge. The longer they stay, the more likely they will make additional purchases.
Increased sales and revenue opportunities
Related to the above point is the opportunity for you to earn extra revenue by selling the electricity used to charge vehicles. The business model you choose for your EV charging points dictates how customers pay for the energy used, with varying details from how much you charge per kWh to how and who pays.
Even if you opt for free charging plans, you can boost sales of your own products by attracting customers to your business.
Puts your business on the map
Your business may already show up on Google Maps or you may be listed in business directories already, but installing EV charging stations on your sites will put you on other maps used by a growing market demographic. Drivers searching for charging points on the aforementioned Zap Map or Open Charge Map may discover your business out of the necessity of having to recharge their vehicle. This opens your business up to new potential customers.
*Image taken from OpenChargeMap.io. Company name and details modified or removed for privacy.
Government assistance to electrifying your company fleet
A good supply of coffee keeps your employees invigorated and charged up for the day. A couple of charging stations for your fleet of electric company vehicles accomplishes the same. Having an on-site solution to refuel your vehicles means your fleet is always ready to roll into action.
Even better is that there are accessible government subsidies available for companies who electrify their company fleet. There are several schemes and incentives in place to help organisations convert their company fleet to an electric one. Additionally, some electric cars are exempt from London congestion charges, meaning you will be saving money as your employees drive out and about the busy streets.
Motivates employees use and invest in EVs
You can further goad the private interest in EVs by offering employees the perk of having a place to charge their vehicle while they work. A US Department of Energy study found that employees are 20 times more likely to get an electric car themselves if their employer offers a free place for them to charge it.
You may garner increased applications to your company if job hunters notice your environmentally friendly profile. Employees are just as interested in a company’s commitments to environmental care as are customers.
Government grants and subsidies are available
We can say that the UK is a leader amongst other European nations when it comes to incentivising the adoption of EVs.
The UK government even has an office dedicated to the propagation of EVs. The Office for Zero Emission Vehicles (OZEV) – part of the Department of Transport and the Department for Business, Energy & Industrial Strategy – works and strategizes ways to effectively convert the UK’s transportation industry into an electric one. Together with other departments, OZEV is working to end the sale of fossil-fuel vehicles by 2040.
Check out this page for a full guide on EV charging incentives in the UK.