Businesses are finding now is a good time to start investing in workplace EV charging stations. The combination of incentives and benefits is making it a secure investment for all types of organizations.
Along with federal and state financial incentives which include potential rebates and tax credits, private and public entities may also be able to take advantage of loans that help offset purchasing, installation, and maintenance costs.
Some examples of federal incentives include,
- Flexible Billing federal income tax credit of up to $7,500 for the purchase of an EV.
- 30% tax credit up to $30,000 on EV charging infrastructure purchases.
States are also encouraging businesses to invest in workplace EV charging stations. For example,
- New Jersey began offering a $5,000 rebate on the purchase of an EV in 2020.
- New York offers a tax credit of up to $5,000 and rebates of $4,000 per charging port for Level 2 charging stations installed at the workplace, along with public and multi-unit dwelling parking lots.
In addition, the U.S. Department of Energy’s Clean Cities Coalition program is working to support the nation’s EV charging infrastructure by building partnerships with local communities. The energy department is also supporting the Workplace Charing Challenge which aims to bring EV chargers to businesses for their employees and customers.
We know that EV charger incentives, rebates, and grants are a HOT topic for those looking to invest in EV chargers. You are in luck! We have an entire blog dedicated to the currently available federal, state, and local incentives and funding.
Electric Car Charging Stations Business Opportunities
While federal and state programs are making it more affordable for businesses to invest in EV chargers, organizations often require more information before committing to a greener future.
Did you know that workplace EV charging stations can dramatically reduce fleet operating costs? Along with foregoing the high costs associated with fossil fuels. Electric vehicles are less expensive to maintain. The engine has fewer moving components compared to a gas-powered vehicle.
How quickly the fleet transitions to electric vehicles does affect your total cost of ownership (TCO) and potential benefits.
It’s less expensive to install multiple EV chargers instead of only adding one or two at a time.
Additional Benefits for Businesses
Along with reducing fleet maintenance and operation costs, installing workplace EV charging stations can help drive customers to your doors. They can charge their EVs while they are at your business. It also helps boost your brand. Having EV chargers onsite indicates you are committed to meeting your environmental goals.
Workplace EV Charging Stations Offer Competitive Perks
Investing in EV charging infrastructure typically increases customer dwell time. Studies show consumers spend between 30 minutes to 2 hours while their vehicles are charging. The longer dwell time often increases sales revenue which helps to mitigate the costs.
Companies like Google, GM, and Coca-Cola are not new to offering workplace EV chargers.
In 2010, GM began installing Level 2 chargers in employee parking lots. Since then, the company has added Level 1 chargers. In 2020, 918 charging stations are being used by GM employees and they are adding 3,500 units to their facilities in the U.S. and Canada.
Attract and Retain Residents at Multi-family Complexes
Consumers are not only looking for businesses that support eco-friendly initiatives. It also applies to where they live.
Supporting EV charging infrastructure in multi-family complexes can not only help attract new residents but can also help with retention.
Installing EV chargers is a draw for tenants and can help make the units more valuable. The added perk can help keep desirable tenants around longer. Renters are purchasing EVs at an increasing rate and want to be able to charge their vehicles at home.
EV Charging Stations from Apogee Charging Solutions
Are you interested in learning more about Electric Car Charging Station Business Opportunities? To speak with an Apogee Charging Solutions expert about EV charging stations for your business, call 484-816-2076, email [email protected] or schedule a call that fits your needs by clicking the button below.