How Much Does it Cost to Charge an Electric Car at a Public Charging Station?
The 60% surge in new electric vehicle (EV) registrations in Q1 2022 shows that drivers are hungry for change, provided that somewhere to charge is on the menu. For most drivers, home is still where the charge is. It’s where 80% of Tesla drivers refuel, for example. However, domestic Level 1 charging won’t sustain a national shift to EVs. We can’t expect the market to move en masse towards electric until the public recharging network matches the landscape for petrol-powered vehicles.
One of the key ways in which private businesses can engineer that change is by providing public charging stations. Everyone wins. Drivers get faster off-road charging speeds than Level 1 can supply, while businesses can capitalize on both tax credits and fresh revenue opportunities. To put that in context, we need to explore the cost of charging an electric car at a public charging station, and see how businesses can reduce EV charging station costs.
Common Types of Public Charging Stations
Thanks to recent market research, we already know the 6 key places where commercial drivers want to see EV charging stations. Not surprisingly, they overlap with the locations that tend to have the biggest parking lots, such as supermarkets, hospitality venues, office buildings and so on. With the right partner, such as EV Connect, businesses can offer public charging stations with minimum fuss, unlocking these opportunities in the process:
Turn a business cost (providing free parking) into a steady revenue source
Unlock newly available tax credits and state/local incentives
Put your location on the recharging map that drivers search with their app
Diversify your customer service offering
The main challenge is in bridging the gap between private business and public charging service, but gas stations show how that can be done. Today’s gas station is no longer just a row of pumps, but has typically expanded to a grocery store, coffee stop, ATM and car wash. Public charging stations allow businesses to build in the opposite direction without overstretching on capital expenditure. Start with the store, stop or service and add the following EV charging station options as a bonus feature.
Level 2 Charging
Level 2 charging stations require a dedicated 240-volt circuit, which is commonly found in residential homes, commercial buildings, and public locations. These stations provide a faster charging speed, typically adding about 25-30 miles of range per hour. The cost of Level 2 charging varies depending on electricity rates, time of day, and location.
Level 2 charging stations deliver a lucrative upgrade for any businesses or facilities where customers are leaving their car in the parking lot for an extended time. That includes residential complexes, office buildings, gyms or hotels. A Level 2 unit can recharge a battery electric vehicle (BEV) in 4-10 hours and a plug-in hybrid in 1-2 hours.
DC Fast Charging
DC fast charging (DCFC), also known as Level 3 charging, is the fastest charging option available for electric cars. These stations utilize high-powered chargers that can provide an electric vehicle with approximately 60-80 miles of range in just 20 minutes of charging time. The cost of DC fast charging is generally higher than Level 1 or Level 2 charging due to the advanced technology and faster charging speeds it offers.
There’s a huge opportunity for any business off a major highway to provide an essential service and generate round-the-clock revenue through public DCFC charging stations. Although dwell time is lower, meaning there are fewer opportunities to sell supporting services (eg. car wash, coffee), it’s a business model that can charge a premium, generate rapid customer churn, and carve out solid market share. You can even capitalize on tax credits and a low-cost energy source through solar carport options.
Average Cost of Charging at Public Charging Stations
For the consumer, the average cost of charging an electric car at a public charging station across the United States varies depending on a number of factors. However, it’s worth noting that EV costs are far less volatile than gas prices. On average, Level 2 charging can range from $0.10 to $0.30 per kilowatt-hour (kWh), while DC fast charging can cost between $0.20 to $0.40 per kWh. These costs can differ significantly based on local electricity rates and other factors specific to each charging station.
Value Addition for Businesses
For businesses that already have charging stations in place, providing public charging can be a valuable addition. As well as attracting new customers and extending dwell time, providing public charging stations also supports the following business outcomes:
Sustainability and Brand Image
As electric mobility aligns with sustainability goals, businesses that prioritize environmental consciousness can enhance their brand image. Providing public charging stations demonstrates a commitment to reducing carbon emissions and supporting clean transportation options. This can resonate with eco-conscious customers who prioritize businesses that actively contribute to a greener future.
Partnerships and Collaborations
Installing public charging stations can open doors to partnerships and collaborations with other businesses, utility companies, or government entities. It enables businesses to participate in electric vehicle infrastructure development initiatives, potentially accessing incentives or grants to support charging station installations. Collaborations can also enhance a business's network and create opportunities for joint marketing efforts and customer engagement.
Data Collection and Insights
Public charging stations can provide businesses with valuable data on charging patterns, usage frequency, and customer behavior. Analyzing this data can help businesses optimize their operations, tailor marketing strategies, and make informed decisions regarding future expansion or upgrades of their charging infrastructure.
Work with EV Connect
Charging an electric car at a public charging station offers an affordable and convenient solution for EV owners. Additionally, businesses that already have charging stations in place can benefit from increased foot traffic, extended dwell time, enhanced brand image, and potential collaborations. Embracing public charging infrastructure not only supports the growth of electric mobility but also positions businesses as leaders in sustainability and customer-centric offerings. By embracing this clean energy transition, we can collectively contribute to a greener and more sustainable future.
Remember, as the electric vehicle landscape continues to evolve, staying up-to-date with the latest developments and advancements in charging infrastructure will ensure you make the most of your electric driving experience.
Sources
Car and Driver Electric Cars' Turning Point May Be Happening as US Sales Numbers Start Climb
California Air Resources Board Electric Car Charging Overview | DriveClean.