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The all-round world is heading towards sustainability. It is accompanied by an ever speeding up the adoption of electric vehicles (EVs). The sales of EVs in the United States went from 17 thousand units in 2011 to more than 300 thousand in 2020, marking a 1600% growth in just less than a decade. Yet, EV charging infrastructure has not progressed in order to match the rapid growth of EV ownership. As of 2021, the USA had around 41000 public EV charging stations which corresponds to only 0,13 charging ports per EV. The huge discrepancy between the number of electric cars on the road and the number of chargers available opens up an extraordinary opportunity for commercial EV charging solutions providers to meet the growing demand. If you are a business owner planning on having a commercial EV charging station installed, one of your first questions might be, “How much does a commercial EV charging station cost?” In this guide, we will examine the different aspects that influence the cost of installing and maintaining a commercial EV charging station, and we will make sure you have all the data to make the right decision for your business.
When it comes to EV charging stations, there are three main types: Level 1, Level 2, and Level 3 (DC Fast Charging).
Level 1 chargers are the simplest type of EV charging devices, and most of the time, it comes with the vehicle directly from the manufacturer. These chargers work with a typical 120-volt household outlet and can charge a vehicle up to 3 to 5 miles of range per hour. Level 1 charging stations at home are very convenient, but not reasonable for commercial locations due to a long time of staying using two reasons: slow charging speed and a full time for charging. Level 1 charger is not recommended due to its low power output, which makes it not suitable for peak demand in situations where large numbers of vehicles need to be charged at once in a commercial setting.
Level 2 and Level 3 charging stations, though, are the top choices for commercial EV charging.
Level 2 stations are the most frequently encountered commercial EV chargers. They get their power from a 240-volt supply, the same as that used for dryers or electric ovens. Level 2 chargers, providing 25-30 miles of range per hour, are perfect for office buildings, hotels, and other locations where cars stay for several hours.
The quicker charge time, lower maintenance cost, and lesser space requirement are what give level two car chargers an instant appeal for nearly all commercial facilities. The chargers work with most of the EV models meaning they are flexible enough to handle numerous customers who come for a charge.
Level 3, or DC Fast Charging stations, are the quickest type of EV chargers that are available at present. They are DC chargers (direct current chargers) which can charge to the extent of 250 miles of range in just 30-60 minutes. Level 3 chargers will serve high-turnover locations as public charging stations, including traditional gas stations, rest stops, or fast-food restaurants, where clients do not want to waste much time and to continue their journey.
The fast charging function is the hallmark of the Level 3 stations, which makes them popular among businesses that target EV users who have little time to spare. On the downside, the fact that Level 3 chargers have higher power output and more complex installation requirements than Level 2 stations leads to higher costs of these stations.
Installing a commercial EV charging station offers more than just a solution for meeting the growing demand for EV charging infrastructure, it brings a lot of business benefits as well.
1. Attracting and retaining customers: A Volvo survey showed that 55 percent of EV owners would rather go to a company that has EV charging stations and they tend to stay longer and spend more money. Through the installation of EV charging infrastructure, businesses can attract a growing number of EV users and foster customer loyalty.
2. Demonstrating environmental commitment: A study has shown that 80% of Americans are ready to modify their shopping habits in order to minimize their environmental footprint. Installing EV charging stations is a visual representation of a company’s environmental responsibility, which helps to improve its brand image and attract eco-friendly consumers.
3. Generating additional revenue: Commercial EV charging stations may be a new source of income for your business. Through competitive pricing for charging services, you will be able to cover the initial investment and the ongoing operating costs. Some EV charging stations have advertising display screens that can also be used to generate ad revenue for the business.
4. Potential for government incentives: Many governments provide financial encouragement, including grants or tax credits, to the companies that set up EV charging stations. Such incentives can help to defray the installation costs of a commercial EV charging station.
As the EV market continues to grow, businesses that invest in EV charging infrastructure will be well-positioned to meet the increasing demand for charging services and reap the associated benefits. Commercial EV charging stations are becoming a necessity for various enterprises. The following table lists some of the most common locations where EV charging stations are becoming increasingly prevalent, along with their current adoption number:
| Location | Number of EV Charging Stations |
| Workplaces | 6,500 |
| Hotels and Hospitality | 3,200 |
| Retail and Shopping Centers | 2,800 |
| Parking Garages and Lots | 2,100 |
| Universities and Schools | 1,800 |
| Restaurants and Fast Food Chains | 1,500 |
| Healthcare Facilities | 1,200 |
| Government and Public Buildings | 1,000 |
The price of the charging station equipment per se represents a large part of the total project cost. The price of hardware may differ as it depends on the type of charging station (Level 2 or Level 3), the brand, and the specific options and abilities the unit has. Normally, the price of a Level 2 charging station is between $2500 and $15000 while the DC fast chargers Level 3 can cost $35000 to $100000 or more.
Installation costs of EV infrastructure can change dramatically due to the varying level of project complexity and site requirements. Factors that can impact installation costs include:
On average, installation costs for a commercial EV charging station can range from $2,000 to $50,000 or more, depending on the specific site requirements and the type of charging station being installed.
Furthermore, business owners will have to consider the recurring software and networking costs of their commercial electric vehicle charging stations, which are separate from the initial hardware and installation expense. This expenditure may be due to the network cost for remote monitoring, payments processing, and user management, the possible payment for charging processing and software subscriptions that have advanced features and analytics.
Just like any other equipment, commercial EV charging stations require regular maintenance and perhaps some repairs from time to time to achieve the best possible performance and reliability. These costs depend on the type of charger, mode of operation, and specific maintenance requirements. Regular cleaning and inspection are among common maintenance measures. Software updates, component replacement, and repairs due to vandalism and accidents are also some of the common maintenance tasks. Businesses need to be aware of the fact that the EV charging infrastructure is not a one-time expense and it requires ongoing maintenance and repair costs. Therefore, the total cost of ownership calculations should consider these costs when planning EV charging infrastructure projects to have a clear understanding of the long-term financial implications.
The cost of putting up a commercial EV charging station may differ greatly depending on various factors, e.g. the type, installation complexity, and ongoing maintenance of the charging infrastructure. Here are some rough estimates of the costs associated with commercial EV charging stations:
| Cost Component | Level 2 Charging Station | Level 3 (DC Fast Charging) Station |
| Hardware Costs | $2,500 -$7,000 | $20,000 -$50,000 |
| Installation Costs | $2,000 -$5,000 | $10,000 -$50,000 |
| Software and Network Fees | $200 -$500 per year | $500 -$1,000 per year |
| Maintenance and Repair Costs | $500 -$1,000 per year | $1,000 -$3,000 per year |
| Total Upfront Costs | $4,500 -$12,000 | $30,000 -$100,000 |
| Total Annual Ongoing Costs | $700 -$1,500 | $1,500 -$4,000 |
The initial costs for establishing a commercial EV charging station may be significant, especially for Level 3 DC fast chargers as the table indicates. An installation of the Level 2 charging station costs from $4,000 to $12,000, while the Level 3 station may be estimated to be from $30,000 to $100,000. The initial capital outlay for a commercial EV charging station can be high but it is worthwhile because, in the long term, the investment can bring some benefits like the attractiveness of customers, additional revenue, and the demonstration of environmental commitment.
For business entities with enough finances, buying the charging stations outright is the most straightforward option. This type of model gives businesses the ownership and the power to oversee the installation, operation, and maintenance of the charging stations. However, the initial investment of buying commercial EV charging stations can be high, especially the Level 3 DC fast charging stations.
Considering leasing or renting EV charging stations can be a smart choice for companies that need to offer EV charging services without paying a large down payment for purchasing the equipment. In this model, businesses can choose to pay a monthly or yearly fee to either lease or rent the charging stations from their provider. The service provider usually takes care of installing, maintaining, and fixing the equipment, thus increasing the efficiency of the organization. Meanwhile, leasing or renting EV charging stations may produce higher total costs in the long run when compared to purchasing the equipment outright.
EV charging station operators provide subscription-based models where businesses are charged a monthly or annual fee for a network of charging stations. This approach, therefore, becomes very helpful for businesses that offer EV charging services to their customers and employees and do not have enough space or resources to install their own charging stations. The subscription model allows companies to often have a wide range of charging stations at different locations, thus the customers or employees have more freedom and ease in charging their vehicles.
Choosing the right EV charging station for your commercial use is essential in order to satisfy the requirements of your customers, to get the most out of the investment you have made, and to derive the most benefits from offering EV charging services. While choosing a charging station, pay attention to the type of charging (Level 2 or Level 3), the station’s compatibility with different EV models, the station’s ruggedness and reliability, as well as the provider’s customer support and maintenance services. Moreover, consider your business’s unique needs, like the anticipated number of daily users, the available space for installation, and your budget. Through a thorough assessment of these factors and by cooperating with a reliable EV charging station supplier, you will be able to make the right choice for your business that will result in an increase of customer satisfaction, a good brand image and a high return on investment.
Investing in a commercial EV charging station is a significant decision that can impact your business positively by attracting a growing demographic of EV owners. By understanding the different types of chargers, associated costs, and potential benefits, you can make a well-informed decision that suits your business needs and budget.
When it comes to selecting a provider for your commercial EV charging station project, BENY stands out as a top choice for businesses of all sizes and industries. With years of experience in the EV charging market, BENY offers a range of high-quality, reliable, and innovative charging solutions that can be tailored to meet the specific needs of your business.
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