Should I Put an EV Charging Station in My Parking Lot?

As electric vehicles (EVs) become increasingly popular, so does the demand for conveniently located places for drivers to recharge. Commercial property owners and parking lot operators nationwide are capitalizing on this trend by installing EV charging stations. So, if you’ve been wondering if you should put an EV charging station in your parking lot, stick around as we explore some of its many advantages.

Attracting and Retaining Customers

One of the top advantages of providing charging services is that lot owners can attract new customers and keep them coming back. As EV drivers commute to work and run errands, knowing that an easily accessible charging spot is nearby can bring in new clientele to your business. This improved public perception will not only enhance your reputation as a supporter of clean energy, but it will also make your company appear more forward-thinking.

Despite advances in EV technology, range anxiety is still a concern for many EV motorists. A place with a charging solution where owners can plug in while they shop or park is an added bonus they won’t likely forget. An EV charging station can also provide your company with new marketing opportunities. Advertise your newly installed charging station on your website, social media platforms, and other sales funnels.

Increasing Revenue

Aside from attracting more customers, offering EV charging stations can also create additional revenue streams for your business. Whether you decide to charge customers for the service or you incorporate the cost into the overall price of your products or services, you’ll be able to boost your profit margin without significantly increasing overhead expenses. Some owners charge between 30 and 40 cents a kWh — and the earning potential doesn’t stop there.

The demand for EV charging stations is definitely on the rise, and by adding a few to your property in today’s market, you can stay ahead of the curve and seamlessly adapt to trends in the automotive industry. This strategy is essential to ensure your company’s bottom line because, frankly, environmentally friendly automobiles like hybrids and all-electric vehicles are here to stay.

Transportation is the leading source of climate pollution in America. That’s why the Environmental Defense Fund, a U.S.-based nonprofit environmental advocacy group, is working with partners around the work to achieve zero emissions in 100% of new cars sold domestically by 2035. While that’s a lofty goal, having the charging infrastructure in place now will set up parking lot owners to earn big in the coming decades.

Gaining a Competitive Advantage

In addition to promoting a clean energy future, installing an EV charging station on your commercial property, lot, or parking garage can provide another advantage for your business: a clear competitive edge. With this vital service, you can differentiate yourself from the competition by offering access to forward-looking charging capabilities, like Level 2 and DCFC charging equipment that’s not yet widely available in most cities.

This lucrative opportunity will give your business a chance to tap into a growing market. Not only will it help attract more customers, you’ll improve your overall position. This is especially true if your location is near trains, airports, or downtown, as EV drivers are more likely to leave their vehicles parked and plugged in for hours at a time.

Supporting Sustainability Efforts

Setting up an EV charging station clearly demonstrates your business’s commitment to sustainability. By offering a service of this nature, you’ll help reduce your customers’ carbon footprints and contribute to a cleaner environment. This move can also help improve your reputation as a socially responsible business. As a result, you’re more likely to attract new customers who value sustainability.

You may even make a few converts in your community by making plugging in easy and accessible. With a convenient charging station in your parking lot, customers who drive gas-powered vehicles may be encouraged to adopt more sustainable transportation habits and start thinking green. Installing an EVSE port or two on your commercial property can also help support your staff members’ sustainability efforts. It’s a terrific way for employees to charge their EVs at work. Perks like this can improve employee satisfaction and retention.

Taking Advantage of Government Incentives

The U.S. government offers various incentives for businesses that establish EV charging stations. For instance, you may be eligible for local, state, and federal tax credits and grants that can offset your costs. With up to 90% of your construction expenses covered, this whole project just became more accessible. These programs may offer an array of combinable credits you can use to pay for site surveys, charging equipment, signage, lighting, power management hardware, and more.

One such incentive is the Alternative Fuel Infrastructure Tax Credit. According to the Department of Energy, this program offers eligible recipients a tax credit of 40% of the total installation cost up to $100,000. However, not every business or parking lot will qualify for every incentive, so check with your accountant for more information.

Should I Put an EV Charging Station in My Parking Lot?

Yes, you should put an EV charging station in your parking lot. It’s a great way to improve your business’s reputation, help reduce your community’s environmental impact, attract new customers, and stay ahead of the competition. With the help of government incentives, it’s also a financially viable option that’s within reach of many parking lot owners. When you hire us to service your parking lot, we’ll take the guesswork out of your EV charging station project. Whether it’s new asphalt construction or repair and resurfacing before the posts go in, we’ll do the job right the first time.

Call U.S. Pave for Your Parking Lot Needs

At U.S. Pave, we’re proud to offer many paving services to suit your needs. Our quality work, top-notch materials, and state-of-the-art application techniques ensure your business will operate its charging station for years to come. So if you’re in the Fort Lauderdale, West Palm Beach, and Tampa areas of Florida and you’re considering adding EV charging stations to your commercial property or parking lot, contact us today for answers to your questions.

Close-up of an electric car charging station with a car plugged in by Ivan Radic is licensed with CC BY 2.0