Commercial | Why Provide EV Charging Stations?
Annual demand for Electric Vehicle (EV) sales rose 440% between 2013 and 2015 and have past the consumer tipping point. Predictability, speed and convenience make EV drivers demand chargers at frequented locations.
As EV driver demand increases, most facilities, sustainability, and HR managers will look to move beyond an initial installation of a quantity of 4 – 8 charge stations.
Benefits of Providing EV Charging Stations
| You are… | Your drivers are… | Your benefits are… |
|---|---|---|
| ENTERPRISE (A private-sector company) | Employees, customers, investors, the media. | Cost-effectively attract and keep great employees. Reduce costly churn.Enhance & promote a positive brand image.Potential revenue stream. |
| GOVERNMENT (City, county, state, mass transit) | Employees, voters, citizens, the media. | Meets federal and/or state mandates.Supports sustainability objectives.Potential revenue stream.Enhance & promote a positive brand image. |
| SERVICE PROVIDER (Hotel, private parking garage, destination resort, retail or entertainment venue) | Guests, customers and the media. | Boost guest satisfaction.Increase occupancy rate or visitations.Differentiate from competitors.Potential revenue stream: Increase Revenue Sharing.Enhance & promote a positive brand image. |
| RENTAL PROPERTY (Multi-family or commercial) | Tenants and the media. | Boost tenant happiness.Reduce churn.Increase occupancy rates.Potential revenue stream.Enhance & promote a positive brand image. |
Why Take an Active Role in EV Charging?
Revenue from Electric Vehicle Charging Services is Expected to Reach $2.9 Billion Annually by 2023
A new report from Navigant Research analyzes the global market for PEV charging equipment sales and charging services, including global market forecasts for residential and commercial charging system unit sales and revenue from charging services through 2023.
The market for plug-in electric vehicle (PEV) charging equipment (also known as electric vehicle supply equipment, or EVSE) is expanding, while experiencing predictable growing pains. With the number of PEVs in use projected to reach 12 million globally by 2023, the market for EV charging services is likely to continue to evolve to respond to growing demand.
“Sales of EV charging systems are expected to grow steadily in the coming years, surpassing 2.5 million by 2023,” says Lisa Jerram, principal research analyst with Navigant Research. “That represents a significant market for providers of charging systems, but the market landscape and the business models, particularly for commercial charging, are yet to be fully defined.”
Residential chargers are increasingly a commodity, competing more on price than on innovative features, according to the report, making the market for commercial chargers (defined as installations outside vehicle owners’ residences) the most dynamic and the most uncertain. Public chargers continue to spread, and workplace charging is picking up. Some charging networks have usage fees, some charge via subscription, and some companies offer EV charging as a free service to entice customers or as an employee perk. Automakers and utilities are moving to the forefront in the financing and build-out of EV charging networks, the report concludes.