The rising popularity of electric vehicles (EVs) is undeniable. As more and more individuals choose EVs as their mode of transport, it has become evident that EV charging stations should be easily accessible. This has led business owners and property managers to consider installing commercial EV charging stations. The driving force behind this decision is not only a desire to contribute to sustainability but to also attract EV drivers to their businesses.
However, the cost of installing commercial EV charging stations can be quite daunting to many individuals. In this article, we shall take a closer look at the costs associated with installing a commercial EV charging station, to guide prospective buyers and assist in making an informed decision. Now, let’s address a frequently asked question: How much does a commercial EV charging station cost?
EV Charging Station Type
The cost of a charging station varies widely based on the type of charging station selected. The DC fast charging station has a higher charging capacity than the AC charging station and can charge an EV in a shorter amount of time. However, due to its high charging capacity, it is also the most expensive option. The AC level 2 charging station, on the other hand, offers lower charging capacity but is a more affordable option.
The type of charging station you ultimately choose will depend on your budget, the number of vehicles that need to be charged, and the charging time requirements. If you need a charging station with faster charging speeds and higher power requirements, then the DC fast charger will be the best option. However, if your budget doesn’t allow for such an expensive purchase, then the AC Level 2 charger may be the best choice for your needs.
Installation Costs and Other Factors
The installation costs of commercial EV charging stations can vary greatly, based on a variety of factors such as location, electricity requirements, and any additional work needed to equip the charging area. For instance, the construction of a parking structure or new electrical capacity may be required, leading to additional costs. The minimum cost of installation and EV charging station hardware typically starts at $2,000 per charging station.
When choosing a commercial EV charger, there are a few other factors that you should take into consideration. Firstly, think about the type of connector that you will need to ensure compatibility with your electric vehicle. Additionally, consider whether you will require multiple charging units, which can be useful if you have multiple EVs or if you plan on charging at different locations. Lastly, it’s important to think about any additional safety features that may be necessary, such as surge protection or built-in security measures. Taking these details into account will provide you with a clearer understanding of your specific requirements, making it easier to determine the best EV charger for your needs.
Maintenance Costs
Regular maintenance is required to keep the charging station operating effectively. Maintenance requirements can vary depending on the charging station type and the frequency of use. Generally, maintenance costs can range from $500 to $5,000 per year per station. Keeping a charging station in good condition will ensure that it lasts longer and serves its purpose effectively.
Energy Costs
The costs associated with the electricity that runs the charging station are important to consider. The cost of energy required to fuel the EV’s charge plays a significant role in determining whether installing a commercial EV charging station is financially feasible. The energy consumption costs depend on the price of electricity in the area, the type of charging station and the average amount of EV charges per day. It is best to speak to energy suppliers to get a proper estimate of costs.
Your property also might not have the capacity to charge multiple vehicles at once, so it is important to consider the energy costs associated with that as well.
Other Associated Costs
In most cases, when it comes to additional fees, such as permit fees, they can incur an additional cost. Moreover, apart from the initial cost, it is important to consider the permits required from both local and federal authorities. Additionally, the cost wiring and installation should also be taken into account, as these factors can significantly contribute to the overall expenses that may arise.
Investing in a Commercial EV Charging Station: Power Up Your Business and the Future!
Investing in a commercial EV charging station is a sustainable, future-oriented decision that could potentially increase your business. The costs associated with the installation, maintenance, and electricity related to an EV charging station can vary widely based on a number of factors. However, it is important to remember that the initial costs of installing an EV charging station are more than compensated for by long term benefits for business owners and the community.
By considering all of the above factors, it can be determined which type of charging station is best suited and whether it will provide significant return in the future. Here at Tiger Electric, we aim to provide the best EV charging solutions for commercial installations. Please feel free to contact us for more information.
