Why add EV charging stations?
You foster greater loyalty among existing customers and stronger interest among new customers. EV customers spend twice as much time at retailers as average customers, and 43% are likely to return weekly to retail locations with EV chargers. For employees, you offer a valuable and tangible benefit-providing them with a low-cost, reliable form of transportation to work.
EV charging helps you reduce the environmental impact and cost of employee commuting and travel, and your own corporate fleets.
EV Leadership pays off for your business
Charging for Employees
Improve workplace culture and accessibility.
Making EV charging equipment available to employees is a great way to attract value-driven talent to your organization. You can build a culture of commitment to environmental stewardship in the workplace and demonstrate your corporate social responsibility to visitors. In many cases lower cost Level 1 charging will be sufficient for your employees because they will be leaving their car to charge for a number of hours while they are working. The US Department of Energy has a variety of resources available for workplaces considering EV charging.
Charging For Customers
Strengthen relationships with your clientele.
Give people an incentive to browse a little longer in your store or stay for another course at your restaurant. It's also a good way to attract new business as well, as locations of public charging equipment are listed and mapped on a number of websites (like ours!) and AFDC Alternative Fuel Station Locator, ChargePoint and PlugShare. Choosing the right charging equipment for your business will depend on how long you expect customers to spend at your establishment.
EV Charging Installation Costs
Installation costs vary widely depending on site characteristics, the quantity, and type of charging stations being installed. As charging stations have become more prevalent, equipment prices and installation costs have gone down.
The ideal time to install charging stations is during parking lot construction or resurfacing. Providing electrical service to parking spaces can account for 40% or more of the installation costs. Installing multiple stations simultaneously can also substantially reduce per unit cost by one-third.
Operating costs will vary depending on electric rates and amount of use. The average annual operating cost of EV charging stations currently installed in Vermont is around $400/year for electric power.
Learn more about EV charging installation and operating costs on our Installation Guide page.
Typical Installation Costs
|Level 1 AC|
|Equipment||$30 - 900|
|Installation||$200 - 450|
|TOTAL||$230 - 1,350|
|Level 2 AC|
|Equipment||$600 - 7,000|
|Installation||$2,000 - 12,000|
|TOTAL||$2,600 - 19,000|
Charging Incentives and Financing
There is a federal tax credit available for alternative fuel vehicle infrastructure, including charging equipment for plug-in electric vehicles. This will provide a federal income tax credit of 30% of the installation cost, up to a maximum of $30,000 per location for commercial installations. Homeowners may receive a 30% credit up to a $1,000 cap. Refer to IRS form 8911 for details on claiming the credit.
The State of Vermont Agency of Commerce and Community Development (ACCD) is administering a grant program funded by the Volkswagen diesel emissions settlement. These grants have funded up to 80% of the equipment and installation costs for EV charging open to the public on private property (or up to 90% on public property). Applications for the second round of funding were due on April 30, 2019. The State is currently developing a Request for Proposals (RFP) for a third round of funding that help build out DC Fast Charging along major Vermont travel corridors. The RFP is planned to be released in early 2020. Visit the ACCD grant program for more details.
Many Vermont electric utilities are also offering bill credits or other incentives ranging from $150-$500 per charging port for public and workplace charging installations. We recommend contacting your utility provider to see if they can support your installation.
The Vermont Economic Development Authority (VEDA) has low-interest financing available for public EV charging. Learn more on our financing page.
Tips for Businesses Considering EV Charging Stations
- Do a survey of your employees to see who has an electric car already and who is thinking about buying one. For those considering buying an EV, having charging available at the workplace may be just what they need to convince them to make the purchase.
- Fees for charging can help recoup the costs of installation. Some electric vehicle supply equipment offers systems for billing users for charging.
- Charging equipment can add points towards LEED certification for a new building.
- Install charging infrastructure during parking lot resurfacing or new construction to keep costs down. At a minimum you can install conduit as part of a larger project to make it easy to add charging equipment in the future.
- If possible, restrict usage during peak hours to reduce any demand charges on your electric bill.
- The Vermont State Infrastructure Bank offers low interest financing for publicly available charging installations.
- Free electric vehicle charging to employees can benefit your company by increasing worker loyalty.
- Contact Efficiency Vermont to get help reducing your overall electric use to free up resources and infrastructure capacity to provide charging services.
- Consider pairing a charging installation with renewable solar power.
The Case for Electric Vehicles for your Business Fleet
Having EVs in your business fleet will reduce the carbon footprint of your operations and build your reputation as a forward-thinking and environmentally conscientious company. It could also end up saving you money down the line in terms of reduced fuel and maintenance costs. Electricity rates are much more stable than gasoline prices, so predicting the future costs of powering your EVs can be done with far greater precision than gasoline vehicles.
Get more information on EVs for your business in the US Department of Energy's Plug-in Vehicle Guidebook for Fleet Managers.