EV Chargers: The Next Revenue Stream for Businesses
We explore how QLD businesses are generating direct and indirect revenue streams from electric vehicle stations.
Are EV Charging Stations a Valuable Business Asset?
The short and vague answer is, that it depends on what kind of business you're running as well as the customer base you service.
But let's break that down a bit.
In 2021, electric vehicle sales tripled in Australia from the previous year. Nationwide, we recorded 20,665 EV sales in 2021, seeing EVs hold 1.95% of the new car market. In Queensland, there are approximately 8,000 registered EVs in the state as of March 2022.
With the recent EV subsidy introduced in QLD, EV sales are expected to continue to double or triple every year for the next couple of decades as Australia works toward net-zero by 2050. This will mean a significant transition away from 7/11 and BP fuel pitstops to and from destinations.
Rather, customers will be seeking destinations that offer to simultaneously recharge their vehicles as they shop, eat, meet with friends, or relax at their local club or cinema.
This is where EV chargers become a valuable asset for businesses, particularly social clubs, restaurants, and shopping precincts where their customers are anticipated to spend an hour or more of their time.
Having EV chargers installed at your business will incentivise customers to stay longer to charge their vehicles and in turn, spend more within the facilities. Not to mention, premises with EV chargers will be the first pick for a rapidly growing eco-conscious customer base.
Direct revenue streams can even be established as businesses choose to charge their customers for EV charging use. Paid EV charging stations are more common now than free-to-use stations.
With all of this in mind, businesses like restaurants, social clubs, shopping centres, and sporting venues are perfect establishments to set up EV charging stations for their customers, as the average visit duration is high and there is the ability to derive direct and indirect revenue streams.
The key to running a profitable EV charging station is to connect it to a high-quality solar system. Solar is the first step all businesses should be taking as we roll into a renewables-focussed future, and investing in a solar system designed to last for the unique requirements of your building will ensure that not only are you offsetting your energy consumption within the facility, but opening possibilities for energy expansion.
Solar can offset the operating costs and power supply of EV chargers and battery storage when they are inevitably added to commercial premises in the future. Essentially, solar enables businesses to power EV chargers for free during the day (and at night if a battery is installed), and if revenue is derived from the stations, the upfront installation cost will eventually pay itself off.
Solar is also highly valuable for commercial purposes as it enables business owners to:
Save thousands on annual power bills: a solar system customised for a building's unique energy requirements and goals can save business owners upwards of $10,000 per year on their energy bills.
Appeals to eco-conscious consumers: customers are selective on the brands and businesses they choose to support based on whether they align with their environmental views. 'Green' businesses are more likely to garner and retain a loyal customer base than non-green businesses.
Short payback periods: with a high-quality solar system, the solar savings will offset installation costs within 4-6 years (on average) for a large commercial premise.
Who are we?
At Springers Solar we only recommend and install quality components that have been expertly selected by our team of in-house engineers, solar experts, and project managers. We design our systems to fit the unique requirements of your home or business and only select the components that will perform under those conditions. We are trusted by some of the largest industrial manufacturers in the world and are recognised as preferred/recommended installers for a large portion of them. Choosing solar and EV charging infrastructure is an investment so taking the time to research and choose components that will work for your project is important to us.
Contact Us for a Free Quote
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