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 may 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 and other factors like whether you need the ability to collect fees for EV charging use.
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 decreased.
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 costs.
Any increases in your facility's 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 $300/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
The State of Vermont Agency of Commerce and Community Development (ACCD) has administered several EV charging grant programs funded by the Volkswagen diesel emissions settlement and State funds. These grants have covered 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). Visit the ACCD grant program for more details on current funding opportunities.
Many Vermont electric utilities are also offering bill credits or other incentives ranging from $150-$750 per charging port for public and workplace charging installations. We recommend contacting your utility provider to see if they can support your installation. Below is a summary of programs currently advertised by several Vermont utilities:
- Burlington Electric Department offers a charging incentive covering up to 75% of the cost, up to $1,500 per charging plug.
- Green Mountain Power has a $750 incentive for public and workplace EV charging and a pilot program offering workplace charging for about $35-50/month on customer's electric bills. They are also supporting DC Fast Charging installations. Visit their business innovation EV resources for more details.
- Stowe Electric Department offers an incentive for workplace and public EV charging of $500 per charging plug.
- Vermont Electric Coop provides a bill credit incentive for workplace and public EV charging of $500 per charging plug. They may also be able to support DC Fast Charging infrastructure development.
- The Vermont Public Power Supply Authority offers a $500 rebate on workplace and public charging for customers of the following public power utilities: Barton Village, Village of Enosburg Falls, Hardwick Electric Department, Village of Jacksonville, Village of Johnson, Ludlow Electric Light Department, Lyndonville Electric Department, Morrisville Water and Light Department, Northfield Electric Department, Village of Orleans, and Swanton Village.
The Vermont Economic Development Authority (VEDA) has low-interest financing available for public EV charging. Learn more on our financing page.
The State of Vermont Dept of Buildings and General Services (BGS) recently completed a bid process for EV charging equipment. Political subdivisions of the State are eligible to access the State’s contract pricing which could help save money and time associated with installing charging equipment.
The federal Inflation Reduction Act passed in August 2022 restored a federal tax credit for alternative fuel vehicle infrastructure, including charging equipment for plug-in electric vehicles. This provides a federal income tax credit of 30% of the installation cost, up to a maximum of $100,000 per location for commercial installations located in qualified areas. Homeowners could receive a 30% credit up to a $1,000 cap. Refer to IRS form 8911 for details on claiming the credit.
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. They can also provide significant lifecycle savings through 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 at the US Department of Energy's EV fleet resources.
Learn more about cost-saving opportunities to manage your EV fleet's charging in our Light Duty Fleet EV Managed Charging Guide.