TMCnet Feature Free eNews Subscription
March 06, 2023

8 Benefits of Businesses Installing EV Charging Stations

Businesses are constantly turning to new technology in order to gain an edge. In doing so, they remain adaptive, competitive, and forward-thinking. Failure to utilize the latest tech to improve business prospects is an easy way for companies to fall by the wayside in pursuit of profit and prestige.

Enter electric vehicle technology. While the number of EVs on the road remains relatively small compared to gas-powered automobiles, EVs continue to account for a larger and larger portion of new car sales. Sooner or later, companies around the world will need to factor EVs into their business equations.

With that said, not every business depends on fleet vehicles. For the vast majority of brick-and-mortar businesses, the rise of EVs means having charging stations installed in their parking lots. What sounds like an unnecessary expense is, in fact, one of the best decisions a company can make in order to harness the rising popularity of EVs.

Let’s take a look at seven benefits of businesses installing EV charging stations:

Tax Incentives

Many businesses don’t have to shoulder the entire financial burden of EV charging station installation. That’s because they’re able to take advantage of tax credits and other government incentives at the local, state, and national levels. However, similar to the tax breaks attached to solar panel installation, these incentives won’t last forever, so business owners interested in taking advantage should act now rather than wait.

Increased Foot Traffic

Businesses that depend on foot traffic to boost sales will benefit from installing EV charging stations. That’s because EV charging stations can attract electric vehicle drivers to your business, which can increase the number of people entering the business. This could result in increased revenue and repeat business.

Reduced Carbon Footprint

Electric cars produce significantly fewer greenhouse gas emissions compared to traditional gas-powered automobiles. By supporting electric vehicle adoption through the installation of EV charging stations, businesses can help reduce their carbon footprint and contribute to a cleaner environment. While this doesn’t immediately translate to their bottom line, an effort to do their part to help the planet will go a long way in the minds of most consumers.

Increased Consumer Spending

It usually takes several hours for an EV battery to be fully charged. Even the fastest EV charging solutions on the market will take 30 minutes or longer, depending on how much charge was present beforehand. As a result, folks charging their EVs with your charging station are essentially held captive for the time being. Over time, that will translate to more customer spending.

Employee Recruitment and Retention

Companies around the world continue to face a labor shortage. One way to recruit and retain top talent is to provide employees with EV charging solutions. Generally speaking, those in the market to go fully electric tend to be more educated and skilled, meaning there’s a higher ratio of qualified personnel within the larger pool of EV owners. With this in mind, business owners interested in hiring the best of the best would be remiss if they didn’t consider installing EV charging stations in their employee parking lot.

Positive Public Image

Thanks in part to social media and digital networking, the power of publicity has never meant more to businesses. The wrong moves at the wrong times can warrant a customer boycott; meanwhile, the right decisions made for the right reasons can boost public perception. By investing in EV charging stations, companies signal a willingness to adapt to the market's changing demands while demonstrating concern for the planet. Both bode well in the court of public opinion.

Improved Customer Experience

For EV owners, charging stations outside their homes mean greater convenience. They can go grocery shopping, see a movie, and grab a bite to eat while their EV charges. It’s a positive experience they won’t soon forget, meaning a greater chance of repeat business over time.

Businesses are always turning to new technology as a way to boost productivity, performance, and sales. With this in mind, companies with a brick-and-mortar presence should seriously consider having electric vehicle charging stations installed in their parking lots. Doing so will be worth the investment and serve as a step in the right direction.

Julie Steinbeck is a freelance writer from Florida. She enjoys writing about business, finance, health, and travel.

» More TMCnet Feature Articles
Get stories like this delivered straight to your inbox. [Free eNews Subscription]


» More TMCnet Feature Articles