What factors you should consider when setting your EV charging pricing

Electric vehicle (EV) chargers can be great for all types of businesses. Hotels and restaurants can increase footfall and boost their bottom line; employers can increase employee satisfaction and recruitment, whilst supermarkets and retail businesses can bring in new customers. There's just one last thing to consider before monetising your new EV chargers: what’s the cost per charge?

Factors to consider when setting prices
There are many ways to price your EV chargers’ usage and several factors to consider, such as:

• Your business’ location
• The number of chargers you have installed
• The type of chargers you have installed i.e. 7kw or 22kw
• The competition - what are the prices of other local chargers?

There’s not a one-size-fits-all answer, so you need to take the above factors into consideration.

Pricing models most companies adopt

• Pay-as-you-go EV charging: Pay-as-you-go is the most frequently used pricing model, as it’s easy to understand for both businesses and users. This model works well for businesses that want to recoup the costs of their EV chargers quickly.
• Free EV charging: Some believe that setting EV chargers as free to use is a long-term investment, and money will be recouped through organic business growth. Local supermarkets sometimes adopt this model, as evidence suggests users will make additional purchases while waiting for their cars to charge.
• 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.

How this translates for the user
Imagine if an EV charger user arrived at an EV charger - let’s call this user Justine. Justine has checked on ZapMap whether the charge point at a hotel is available and whether she could charge her electric vehicle with one of the hotel’s 22kw chargers. After seeing that her electric car is compatible with this EV charger, she clicked on the pricing section and saw a clear overview of charging costs per hour. With all the relevant information up-front, Justine can plug in her car and pay for her charging quickly with little to no worries.

Now, this story could be completely different if the pricing model was complex, with little logic, as Justine would be puzzled and would simply choose the next best charging option.

Whether you’re adopting a pay-as-you-go, monthly or free model, you must ensure that this translates to simple and easy-to-understand instructions for the end-user.

We're here to provide you with as little or as much help as you need – wherever and whenever you need it. As an end-to-end solutions provider, we can be involved in your EV project as little or as much as you require.