EV charging infrastructure is often seen as a cost, but did you know you can actually create EV charging station revenue? Find out how much you could make.
This blog will help you understand;
- The ways in which EV charging at your business can generate profit
- How EV chargers can increase profit-per-customer
- How EV chargers can increase your customer base
Installing EV charging stations at your business is no thoughtless process. As a hospitality or leisure business owner, it’s certainly not cheap to keep up with the green electrification of Britain’s transport - so is it even worth the effort and initial cost?
In short: yes, it is profitable. There are two key ways that commercial EV chargers can increase your profit and ROI (return on investment) - directly on a customer-spend basis and indirectly through attracting more customers. EV charging stations often come with an app or separate software that allows for monetisation. The hotel can take a percentage of each charge session, but other methods are possible - such as selling charging passes at the reception.
EV CHARGERS AT YOUR BUSINESS CAN INCREASE PROFITS BY INCREASING SPEND-PER-CUSTOMER
As stated earlier, EV charging stations can be monetised to increase spend-per-customer. Through billing customers for their use of your commercial charging stations, you can earn anywhere up to 14 pence per kilowatt hour (kWh) - although this will depend on the model of EV being charged. As well as this, while your customers are utilising your charging infrastructure and awaiting a full charge, they will be more inclined to spend their cash on other things on your premises such as leisure-based activities, or food vendors.
7 percent of EV owners said “price does not matter”. The need for a fully-charged vehicle outweighs the need for a bargain option, so customers will not shy away from putting their funds into your charging stations when on the move if it’s their only option Habitual use
Utilising our software, managing your revenue becomes easy and profitable.
EV CHARGERS CAN INCREASE PROFITS BY WIDENING YOUR CUSTOMER BASE
According to the latest charging station stats, there are 28,749 EV chargers across the UK. By installing EV charging stations at your hotel, your doors will be open to an entire new base of customers - EV drivers. Potential customers who drive EVs will be in search of a hotel that specifically has the infrastructure they need to charge their vehicle - it’s not an option to opt for otherwise.
Your business will see an increase in visitors and overall profits, with this pool of eco-friendly people now able to consider your business as a viable option - which wasn’t the case prior to your EV charger installation. With there being more than 740,000 plug-in vehicles on British roads by the end of December 2021, this is a demographic you can’t afford to miss out on.
Installation of EV chargers is a smart investment for the future, and it’s important to stay ahead of the curve over competitors. With more and more businesspeople opting for electric vehicles as their choice of transport for work, it makes perfect sense to invest in this technology as a hotel or other hospitality provider, as these customers will be the people visiting your establishments and spending hard-earned money there.
Of course, you run a business in a competitive world. You need to make sure that your endeavours never result in the loss of profit, while also focusing on the customer experience. Luckily, the installation of EV charging stations on your premises is greatly financially beneficial for you, as well as for your customers.
Our team at Devitech are EV charging station experts and will happily inform you in deeper detail on the two core ways you can profit from EV charger installation at your business - offering support and advice every step of the way.
To learn more about how you can fund your EV charger investment and reap monetary benefits, check out our free guide: The Ultimate Guide to Commercial EV Funding Options.