How Much Is a Commercial EV Charging Station?
Commercial EV Charging Station
With electric vehicle sales booming, charging stations are becoming a nonnegotiable feature for both commercial and multifamily residential buildings. As EV drivers seek out convenient, reliable places to charge their vehicles, it’s important for business owners and property managers to understand how much these stations cost.
EV charging stations come in a variety of styles, and the costs associated with each vary significantly depending on location and type. Some offer public access for a nominal fee (typically a few dollars), while others require a membership fee or credit card payment similar to other parking arrangements. There are also a range of electricity pricing options, including per minute, per session, or per kilowatt hour (kWh).
The most affordable option is an at-home charging station, which typically costs from $50 to $100 less than a public EV charger. Most of these are Level 1 charging ports that use a 120 volt (V) dedicated circuit and replenish about five miles of range for every hour of charging.
EV charging technology is improving all the time, with a range that can now compete with that of ICE (internal combustion engine) vehicles. In addition to being environmentally friendly, EVs are more convenient and less expensive to operate than traditional gas-powered cars. They can also cost less to maintain, and they require fewer repairs than their gasoline-powered counterparts.
In addition to the public EV charging options provided by companies like Electrify America and ChargePoint, some local governments and private organizations are providing evcome chargers for their residents, employees and visitors. New York City, for example, installed 120 public Level 2 charging ports at curbside locations in 2021. They are managed by a company called FLO, and use is free for NYC residents with an EV license plate.
How Much Is a Commercial EV Charging Station?
Commercial EV charging stations, on the other hand, often use more sophisticated technology than home charging stations. They may include a smart hub that communicates with the driver’s EV, allowing it to detect when its battery is low and start charging automatically. These charging stations can also enable time-of-use energy rates, which are lower at night and weekends when demand on the electricity grid is lowest.
Moreover, these charging stations can also require more costly electrical infrastructure than home charging systems, such as a 50-amp, 208-240 volt (V) dedicated circuit with a 50-amp, 240V breaker box. These factors drive up installation costs, which can climb into the thousands of dollars.
The final factor that influences the total price of a commercial EV charging station is its location. The closer a charging station is to an electrical panel, the cheaper it will be to install, as the contractor won’t have to dig up as much of a parking lot to run extra conduit to connect the stations. The proximity of a charging station to the nearest EVgo network can also impact the overall cost, as it allows drivers to enjoy lower rates at select stations when they sign up for an EVgo Autocharge+ subscription.
Some EV charging companies offer revenue-sharing models for businesses that opt to install their stations on a site that isn’t owned by the company. These options are appealing because they can reduce upfront costs and allow businesses to recoup their investment over time. However, Sham notes that by taking this approach, you’re effectively trading away ownership and control of your EV charging station.
