If you’re thinking about installing an electric vehicle (EV) charging station at your commercial facility, congratulations! Kudos to you for being a forward-thinking business leader and cementing your role as a sustainable business that adapts to the needs of your employees and customers. Before you begin, one of your first questions is more than likely…how much do EV charging stations cost? We will answer that question for you here!
Types of commercial EV chargers
The price tag of your commercial electric vehicle charging station depends on your electrification needs. You will need to know which power level is best for your business.
EV charging stations are available in three different power levels: Level 1, Level 2, and Level 3 or DC fast charging.
Level 1 is the standard for home charging using a wall plug of 120 volts and is the slowest type of EV charging equipment.
Level 2 chargers are usually found at public charging stations and use 240 volts.
DC fast chargers are the most robust of the three and charge with 480+ volts. DC fast chargers are currently the fastest way to charge an EV.
Level 1 and Level 2 chargers supply alternating current (AC) from the grid, which has to be converted by the electric car’s battery to direct current (DC) since EV batteries can only accept DC current. This conversion is what makes Level 1 and Level 2 chargers so much slower than DC fast chargers.
Most commercial facilities choose Level 2 or DC fast chargers. As you may have assumed correctly, Level 1 chargers are the cheapest, Level 2 chargers are at the midrange price point, and DC fast chargers are the most expensive.
Multi-family units or office buildings usually go with Level 2 chargers since they are more affordable than DC chargers and have a relatively sufficient charging speed. Other commercial properties with medium- or heavy-duty EV fleets choose DC fast chargers in order to adequately provide for their EV charging needs.
Level 1 chargers are not a good option for commercial facilities, not only because they are too slow, but they can overload the electrical circuits at a facility. Level 1 chargers were not designed for commercial use, but for residential use, and that is why they can cause electrical issues when used for a large operation.
If you’re thinking of installing an EV charging station, it’s important to know that the cost can vary depending on a number of factors. Generally speaking, you should budget between $2,000 and $10,000 per Level 2 charging station. This includes the electrical and construction work as well as the charger itself. Of course, the exact cost will depend on things like the type of charger you choose and the extent of the electrical work required. But with a proper planning, you can be sure to get the best possible value for your money.
Ultimately, the final figure will be much lower due to the rebates and incentives available for commercial EV charging installations. If you have existing electrical infrastructure that can be adapted for EV charging stations, you can save even more.
What are the costs associated with a commercial EV charging station installation?
In order to figure out how much installing an EV charging station at your property will cost, you’ll have to consider infrastructure and installation costs.
Infrastructure expenses will be the most expensive and will depend on:
How much does a commercial EV charging station cost? Installation expenses depend on factors such as:
As mentioned above, rebates, incentives, and tax credits will cause the eventual price you pay to electrify your facility much lower than initial estimates. Yet, there are even more options available to you that can help cut initial EV charging projects costs down even more. Here are three financing options offered by WattLogic:
Turnkey installation – Everything is covered for you. An EV charging company that offers this option should provide design, product selection, permitting, rebate and incentive management, and installation. With this option, you don’t have to worry about anything, but figuring out how to alert everyone about the new EV charging stations!
Fleet charging as a service or workplace charging as a service – You pay a monthly subscription fee and avoid paying all upfront costs. With this subscription fee, you receive everything as you would have had you purchased it outright.
If you choose WattLogic as your EV charging company, with our fleet charging as a service package you will also receive revenue from people charging, which could cover the cost of your subscription fee. Depending on how robust your EV charging station system is you could even see positive cash flow!
Shared Revenue – The EV charging contractor will install your stations for you and take on the cost, then collect the revenue your stations receive from drivers charging their EVs. A variation of this option would be the EV charging installer splitting both the cost and revenue with you.
Have you been thinking about installing a commercial EV charging station, but the process seems daunting? Don’t worry, WattLogic has got you covered. We will take care of every step of the process for you, from design and installation to EV charger selection and software connectivity. Plus, we can help you navigate the permitting process and take advantage of rebates and incentives. And our ongoing maintenance support will keep your charging station up and running for years to come. So if you’re ready to go electric, let WattLogic handle everything – we’ll make it easy.