EV Charging Stations:
Understanding the Different Levels
Are you exploring more ways to modernize your portfolio? Installing electronic vehicle (EV) stations may be your missing link towards an eco-friendly upgrade for your assets & brand.
However, keep in mind that each location’s charging requirements determine the charging station you’ll need to install.
You might need to consider some critical factors first, so continue reading to see if installing EV Station might be the next best thing for your portfolio.
Capitalizing on EV Driver Memberships
For the majority, most EV drivers will charge their vehicles at home. However, with the rise of electronic vehicles, there’s a greater demand towards increasing publicly available and reliable charging stations. As of 2020, there were 3,884 public fast-charging stations with nearly 15,000 outlets. They project a need of 100,000 public charging stations by 2025!
So, how would this impact your day-to-day business strategy? When you decide to install an EV charging station, many of these chargers come with an option to purchase a subscription plan that integrates a payment solution for the users.
If you prefer to capitalize on exclusivity, charging stations can implement memberships to limit their use for those who don’t have memberships.
Typically, there are no fees for EV drivers to sign up for a membership, and there’s also an option to activate the station using other provided methods: activation cards, toll numbers, apps.
In addition to listing the station on a network map for driver accessibility, the network can charge a subscription fee per month or year for each charging outlet, which tracks the
station usage and enables the unit’s owner to bill for its use.
Now that we’ve clarified a few specific ways you could bank on your station, the next part
is to determine which level to install. There are two distinct station levels, each fitted with different features to meet varying charging limits and purposes.
Level-1 EV Charging Stations
Level 1 stations are the most affordable. Level 1 electric vehicle supply equipment (EVSE) is less than $1,000.
Meaning, many EVs come with portable Level 1 EVSE usage as long as the charging station provides a 120-volt outlet on a dedicated circuit.
Level 1 stations can also provide approximately two to five miles of range per hour of charging time, which could be a better choice for a portfolio consisting of light-duration commercial areas.
These stations are most common among
ownership models for the host site to own.
However, third-party charging station service providers can offer different business models.
For example, third-party providers can opt
to pay for the installation, operation, & profits with the host site or offer a lease option.
If you’re trying to leverage the amount of charging power without going over your budget, you can install two Level 1 stations instead of one Level 2 station.
Still, if you’re looking for something that has more power with more functionality, a level 2 EV station might be a better fit.
Level-2 EV Charging Stations
Level 2 charging stations are a popular choice for commercial installations. They typically offer better durability and more features.
Some of the features provided in level 2 EV
stations are cord management systems that keep the driver’s cord off the ground when it’s not in use, or the station can provide network connections for tracking usage and establish payments or help make reservations.
Most manufacturers offer charging stations
that can be either be wall-mounted or installed as stand-alone pedestals. They often have models with either a single or double charging port per station.
Along with more features, the level 2 charging stations can provide around 10 to 20 miles per hour of charging, which would be a sufficient boost for EV drivers parked for a few hours at locations meant for longer durations.
However, with more capabilities, you’re also going to be looking at a higher price. The level 2 equipment can cost between $2,000 to $10,000, with more features available at the higher end of this range.
In the end, it’s ultimately up to what fits your portfolio’s needs and the needs of your clientele the most.
Match Your Level to Fit Your Budget
If you’re not worried about keeping exclusivity on your properties and not concerned with third-party service providers controlling the billing and want to add the stations to drive business traffic, level 1 stations offer compact affordability.
However, if you desire more functionality and the ability to control and track your stations’ usage, opting for a level 2 station may be the answer.
The power draw by Level 1 stations is much less, so there is a less electrical expense to the host. However, most Level 1 stations do not have the option for a subscription on a charging network and cannot easily bill EV drivers for usage because of their simplicity.
If you need more assistance in figuring out which level to install, connect with your contracting partner, who may be able to point you in the right direction.
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