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Electric vehicles are growing in popularity. Von Power discusses Doron Frenkel’s article on how you can capitalize on EV charging stations. Read on to find more. (Source: Forbes, Commercial Facilities Can Capitalize On EV Charging Business Opportunities, by Doron Frenkel, November 22, 2022, https://www.forbes.com/sites/forbesbusinesscouncil/2022/11/22/commercial-facilities-can-capitalize-on-ev-charging-business-opportunities/?sh=557d43362d82 ).

EV charging stations for commercial properties

Doron Frenkel shares that charge anxiety is a significant challenge electric vehicle drivers face. They fear that they might not find an available or functional charging station during extended trips. This concern is not unfounded. EV drivers often have to deal with a shortage of public charging stations. There are faulty chargers, challenges locating the correct charger, or arriving at a charger to find it already in use by another vehicle. Consequently, the overall charging experience for drivers is suboptimal. However, having EV charging stations for commercial properties can help improve the charging experience for EV drivers.

Von Power elaborates, “EV charging stations for commercial properties are important for several reasons:

Attracting and retaining customers: More people are switching to electric vehicles. Having EV charging stations at commercial properties such as shopping malls, hotels, and office buildings can attract and retain customers who own electric vehicles.

Meeting sustainability goals: EV charging stations can help commercial properties meet their sustainability goals by promoting the use of electric vehicles, which are more environmentally friendly than traditional gasoline-powered vehicles.

Demonstrating corporate social responsibility: Installing EV charging stations is a way for commercial properties to demonstrate their commitment to corporate social responsibility by promoting sustainable transportation options.

Increasing property value: Properties with installed EV charging stations are more attractive to potential tenants and can therefore command higher rental rates and property values.

Providing convenience: Having EV charging stations for commercial properties provides a convenient charging option for electric vehicle owners who may not have access to a charging station at their homes or workplace”.

EV charging stations for your business

Doron Frenkel suggests that EV charging stations for your business could be a big selling point, especially for convenience stores, restaurant chains, shopping malls, and entertainment venues. These businesses can use public fast EV charging, which typically takes around 45 minutes, as a means of attracting customers and increasing dwell times to boost sales. They can adopt various business models, such as offering free charging to attract new customers or implementing charging fees to generate profits or recover costs partially.

Von Power explains, “If you are planning to install EV charging stations for your business, look at the long-term benefits. Installing EV charging stations for your business can bring increased customer traffic, improved brand image, future-proofing, reduced carbon footprint, and cost savings.”

EV charging station installation

Doron Frenkel explains that if electric vehicle charging is not your core business or area of expertise, you may want to consider partnering with an EV charging service provider for EV charging station installation. These partnerships can range from single-location arrangements to large-scale collaborations.

Von Power elaborates, “Partnerships can take various forms. As the business or property owner, you can fund the site preparations entirely and pay the EV charging station installation costs to the service provider, taking full responsibility for operations. Alternatively, you can negotiate a shared model for both the upfront costs of the EV charging station installation and the revenue generated.”

Doron Frenkel advises that the transition to electric vehicles is gaining momentum. So, it is essential to harness the EV revolution to reduce CO2 emissions.

Von Power concludes, “However, achieving this goal will require us to establish a well-planned charging infrastructure. By recognizing the business potential of this transition, commercial and industrial facilities can thrive while contributing to a greener environment.”