According to BloombergNEF’s 2019 EV outlook report, around 550 million electric vehicles (EVs) are going to be on the roads worldwide by 2040. Across Europe, EV sales are expected to significantly increase by 2021 as the EU implements stricter measures to further cut CO2 emissions.
The Government published its Climate Action Plan in 2019 which has committed to banning all petrol and diesel new vehicles sales by 2030. The action plan has also set a target of 950,000 electric vehicles on the road by 2030 which is very optimistic but clearly demonstrates government policy & support to the sector.
With these initiatives and the eventual drop in the cost of owning EVs’, experts believe that plug-in cars will become mainstream soon making electric car charging points essential and establishments that have them will definitely have a competitive advantage to start with until the charging points are in every house/business in the country.
The Benefits of Having Electric Car Charging Points
EV chargers on your premises can attract more customers. Electric vehicle owners will prefer businesses that have charging facilities making it convenient for customers to top up their cars while they dine in a restaurant or stay in a hotel. If you fail to provide this need, prepare to lose these customers to competitors with charging stations.
Installing EV charging points is a good way of supporting efforts to protect the environment. Being eco-friendly can improve your company’s reputation, making it more appealing to consumers.
EV Chargers will also increase your internet visibility as popular sites like Tripadvisor.com and Booking.com have included EV charging in the “Amenities” filter. There are even applications like Zapmap, EV Hotels etc. which help EV owners find charging points resulting in businesses being able to attract new customers from a wider market. The chargers themselves can be a source of extra revenue as well depending on the business model you use.
How Much Do EV Charging Points for Businesses Cost?
There are two main factors which can affect the cost of setting up an EV charging infrastructure – the price of the charging unit and the installation cost.
EV chargers have different specifications which affect their prices. Commercial Chargers have more features including back office billing & reporting capability. Commercial Chargers may have an LCD display or a built-in technology that enables the company to accept credit card payments not required by domestic home chargers.
Charging speeds directly affect the price of the charging equipment. Rapid charge points (DC Chargers), designed to charge EVs at a faster rate, are more expensive to install and these are generally found at motorway service stations enabling consumers to get a quicker charger to complete their journey.
Installation costs depends on several factors like the amount of civil works required, materials used and labour. Installing stations on existing structures require more work which results in bigger expenses.
Cable runs also affect the installation cost – having longer cable runs means more expense. Meanwhile, installing charge points back to back can cut down installation costs since they can share the same charge post, same cable run & same civil works.
For commercial stations, the biggest expense is undeniably installation cost but there are ways to lessen this like hiring a certified charging provider. This kind of company employs experts who can come up with strategies to mitigate project costs.
The government is actively promoting the installation of chargers which qualify for Accelerated Capital Allowances (ACA) to businesses that want to invest in energy saving technology.
Every company has unique requirements which is why the cost of putting up EV charging stations is not the same for all businesses. Consulting a trusted EV charging provider is the only way for you to know exactly how much budget you would need for this project.
Are you planning to install EV charging stations on your business premises?
ePower are the preferred installer of business EV charging points in Ireland. Call us now on 1800 99 88 77 to learn more about our products and services!