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If you are a business owner that hasn’t invested in EV Chargers for your parking lot, you are missing out on a great additional revenue stream. 

EV Market is expected to reach $802.81 Billion by 2027
EV Market is expected to reach $802.81 Billion by 2027
Market size

Let’s start out with the size of the market… it is predicted that in the next 6 years (by 2027) that the EV market will grow to an $800 Billion dollar market. What that says is that the number of customers that would be interested in using your commercial EV charger isn’t by any means small.

President Biden test Ford F-150 Lightning
President Biden test Ford F-150 Lightning

Initial Investment

Today you are looking at about $30,000 for a commercial EV charger, however, the price got reduced because President Biden just announced that the IRS will extend its 30% tax credit on the purchase of all EV chargers. Add to that the state of Maryland offers a rebate as well of up to $7,500 and slowly that initial investment gets less and less expensive.

EV Charging
EV Charging
How to get the ROI on the EV Charger

There are a few different ways to get ROI on your EV charger, and the great thing is you don’t have to choose just one – you can do them all and really get the ROI quickly. 

  1. Enroll your EV charger in the EV Connect platform – This platform tells all EV owners where the different EV chargers are so that they can charge their car – which leads us to #2
  2. Increased traffic to your business. Because EV owners will need to charge up, they will have to stop at commercial EV chargers to charge up their car. And rather than just sit in their car, they are much more likely to walk into the store/restaurant/business and check it out while they wait for their car to charge. This increase the amount of business you do, which also adds to your ROI on the EV charger investment. 
  3. Charging for the charge. Yes it will cost you to charge their vehicle with the use of your electricity BUT as long as you charge them for the use of your EV charger and that cost is higher than the cost to you, you will see the ROI keep adding up.
  4. A little known fact is that the installation of an EV charger also increases the resale value of a commercial property. 
ROI on EV Chargers for business owners
ROI on EV Chargers for business owners
Lauren
Lauren Lauren

Lauren is a wife, mother of 3 (2 adorable furbabies and a handsome toddler), and a marketing enthusiast. She is a bit of a DIYer but knows to hire the right people when it comes to plumbing or electrical work. She enjoys binge-watching bad TV, camping, wine tasting, and shopping on Amazon more than her husband prefers. Lauren joined the Chesapeake Electric team in March 2021 after spending 10 years with a marketing agency.

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