How can businesses recover EV charger installation costs and generate a profit?

Exploring the various pricing models that businesses can employ to effectively leverage EV chargers, recoup initial installation costs and drive profits.

Monetising EV chargers for clients and employees
Drawing in new customers, earning brand loyalty and prolonging time (and money) spent at your business are all prime examples of how EV charging can impact profitability. But the most obvious way EV charging can boost profits is the revenue earned from the EV chargers themselves. By implementing charging fees, you create an additional income stream that can significantly increase your profitability.

What pricing models ensure that I can drive a profit on EV chargers?
As business owners contemplate investing in EV charging infrastructure, they must also determine the most fitting pricing model for the EV chargers based on their objectives and client and employees’ expectations. 

Pay-as-you-go EV charging: Under this cost recovery model, clients and employees pay a fee to use EV chargers, covering operational and installation costs.

Monthly price for regular EV charging: Another pricing model that businesses like to adopt is a monthly price, so users can charge at a location they frequently visit i.e. a gym.

See our blog post on pricing models and considerations for more guidance.

How can you enable seamless payments for EV users and access profits?
Enabling pain-free, seamless payments for electric vehicle users and ensuring that businesses can access profits easily are the two biggest questions we get.

By integrating your EV chargers with sophisticated back-office management systems, we ensure that EV users can seamlessly pay for charging sessions when plugging in, while also providing businesses with easy access to funds and comprehensive reporting.

Here’s how it works - Hotel example:

• An EV user pulls into an EV charging space and initiates a charging session.
• They make payment with a card for their preferred session length, which is credited to a designated account.
• At the end of each month, the accumulated earnings are released to the hotel's nominated bank account, minus payment processing fees. This streamlined approach eliminates administrative burdens for your staff.

We're here to provide you with as little or as much help as you need – wherever and whenever you need it. Get in touch.

Graham Rowlands, Managing Director at Devitech

We know there’s so much to take in, so we’re here to help you every step of the way. To start your EV charging journey, book a site assessment via the button below.