While for EV drivers, a public EV charging station is an option to get extra miles to ride, for businesses, it is a source of money-making opportunities.
So, how to make money through an EV charging station? Read this post to know more about EV charger monetization.
Make money through EV charging as basic amenities
EV charging business is the first and most evident monetizing opportunity to take advantage of. To clarify, when installing a chargepoint, you can set your tariff and provide paid EV charging amenities.
Typically, the key consideration here is how to set your tariff higher than the kWh rate. For example, you can set the following fees:
- Access fees for providing EV charging opportunity itself
- Parking fees for using a parking space while charging a car
- Idle fees for using parking space when a charging session is already over
Indeed, you cannot charge any kWh rate markup as electricity is not the product to resell. However, the following fees will bring your profit as well as any markup.
Make money through the advertising space
Yes, an EV charging station can bring you some passive income as well! All you need to do is just rent out your station casing space for advertising.
Here, your money-making opportunities depend on at least the following factors:
- Size of your casing space – the larger the space, the more money its rent brings
- Visibility of your casing space – the better the visibility, the higher rental price you can charge
- Area of your station location – the prestigious area your station is located, the higher rental price you can charge
Make money through EV charging as extra amenities
A chargepoint at your location is a great way to attract more customers to your business and increase your sales turnover. Whether you run a restaurant, café, boutique, or supermarket, with an EV charging station, you can boost your profits.
Here are a few common opportunities you can benefit from:
- Attract more customers, so each of them will spend some money of them at you
- Facilitate longer customers stay at your location, during which, they will spend more money than usually
- Attract customers with higher income, who will buy more expensive goods or order more expensive dishes
Well, just imagine if you are lucky to have all of these opportunities in a bunch and attract more customers with higher income and make them spend more time and more money at you! Isn’t this a lucrative way to go?