Electric Charging Station Installation Cost – There are 41,000 electric vehicle charging stations in the US. According to Grist, President Biden’s American Jobs plan calls for building another 500,000. Just like gasoline-powered car drivers, drivers of the 1.4 million electric vehicles in the U.S. will also “need to refuel.”
The cost of an electric vehicle (EV) charging station is more than installing the pump. To maximize value and reduce costs, a company should consider networking its site to qualify for multiple utility incentives. What’s more, the so-called “smart station” generates operational data that helps control energy consumption and ultimately save money.
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Electric Charging Station Installation Cost
According to Future Energy, the average cost of installing electric vehicle charging stations for a Phase 2 station is $6,000 per station. However, several factors affect the costs of commercial electric vehicle charging stations: infrastructure, hardware, soft costs, subsidies and software.
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The charging station provides electric power to the vehicles in connection with the utility company. However, according to Future Energy, these power lines may require upgrades that can cost an average of $12,000 to $15,000.
Infrastructure is the main cost variable for electric car charging stations. For example, connecting to an existing 240V circuit may only require a few hours of work by an electrician. But installing a specific 480 volt circuit can cost tens of thousands of dollars.
Why the difference? Modernization of the electrical installation includes costs such as electrical panels, meters that control electricity consumption and additional transformers. Modernization may involve digging, drilling and cementing power lines.
Because an off-the-shelf solution is rarely available, many companies work with a licensed, experienced contractor like Future Energy as an intermediary between the utility and various contractors.
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Level one chargers, or home chargers, cost about $600 for a specific 120V circuit, but are not suitable for commercial businesses that need level two or three chargers to handle the home charging load.
The highest standard for a commercial electric vehicle charging station is Level Three or Direct Current Fast Charging (DCFC). Level three stations can charge a car in about an hour at 480 volts DC. Level three stations cost approximately $40,000 per port.
Most businesses want to install Level 2 charging stations, which operate at 240V and offer a trade-off between power and cost. A Level Two electric vehicle charging station costs $2,500 for a non-public station and $5,500 for a public-facing dual-port station — capable of charging two cars at a time in eight to 10 hours.
Companies can add value by working with an experienced partner like Future Energy to design custom environments and offset additional packaging costs for commercial electric vehicle charging stations.
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For example, a customer can choose custom parking signs and signage to match the area they fill, which can cost around $1,500 but help boost the company’s reputation.
In addition, the company may need guard bollards — short, sturdy poles that protect machinery — that cost about $400 each. Or the site might want parking keys for about $600 each.
Future Energy is working with the company’s marketing team to facilitate relationships with printers, painters and other contractors to align electric vehicle charging packages with the company’s brand.
To qualify for certain financial incentives, an electric vehicle charging station owner must install software that works with the utility company. The utility collects and analyzes data from its network of charging stations to improve the overall system and understand electric vehicle charging demand. In general, the cost of storing this data in the cloud is approximately $28 per port per month.
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Companies that use data wisely are not only eligible for bonuses, but can also save money in the long run. how is? Companies can monitor their electricity bills by monitoring peak load, which is the maximum amount of electricity used in a given period of time.
Future Energy’s smart solutions focus on proactively managing electricity consumption through a smart software platform known as Interface. The interface integrates electric vehicle charging stations with existing performance data, connecting to the utility and managing peak load demand.
The interface helps control building management, lighting, digital thermostats, security cameras and other systems. That way, the company doesn’t unwittingly increase the volume beyond demand, costing tens of thousands of dollars. The interface works intuitively in the background, sending notifications in real time.
The sustainability movement has created incentives and rebates at the local, state and federal levels to help offset the costs of electric vehicle charging stations.
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For example, companies can deduct up to 30% of their federal income tax expenses for commercial electric vehicle charging stations. In addition, a grant from the Environmental Protection Agency will fund Volkswagen’s $2 billion in greenhouse gas emissions reductions through the Electrify America Plan.
In addition, individual states offer incentives. The company can apply for various loans or grants by reducing the state income tax.
In addition, local organizations and governments provide financial incentives. For example, the New York Public Utilities Commission offers a program called Make Ready, which covers up to 100% of electric infrastructure costs.
Working with an approved partner like Future Energy can help companies navigate the complex landscape of tax write-offs, rebates and money-saving incentives. In fact, data from Future Energy shows that smartly planned commercial enterprises can combine incentives of up to 80% for electric vehicle charging stations.
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How much do electric vehicle charging stations cost? Future Energy sees an electric vehicle charging station as more than a piece of hardware. Contact Future Energy to help your business plan and manage a smart EV charging station while saving money.
Sam DiNello is the CEO of Future Energy. He is an electric vehicle infrastructure expert and passionate about new data-driven solutions that help companies get real-time information to take real-time action.
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There’s a lot of talk about smart buildings and smart enterprises these days—and for good reason. Globally, buildings that use modern technologies in their work may reach 115 million by 2026, an increase of 156%. Smart building technology uses… Read More As demand for commercial and consumer electric vehicles increases, demand for electric vehicle (EV) charging infrastructure is growing rapidly. However, the cost of building and maintaining this infrastructure can be very high. In this blog post, we’ll take a closer look at the cost of electric vehicle charging infrastructure and discuss some of the factors that influence these costs.
In general, building an EV infrastructure involves identifying needs, planning, site selection, obtaining permits, installing equipment, testing, and ongoing maintenance. This process costs thousands of dollars and can take anywhere from 12 months to 2 years.
Electric vehicle charging infrastructure is a complex and involved process, but it is a valuable investment in the future of transportation. So let’s explore the process of creating electric vehicle charging station infrastructure.
First, it’s important to remember that the cost of EV charging infrastructure can vary significantly based on charging station and location. The three basic charging stations are Level 1, Level 2 and Level 3 (DC Fast Charging).
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Level 1 charging stations are the slowest and offer up to 6.5km of range per hour charge. Level 2 chargers are faster and offer charging speeds of up to 40 km/h. DC fast charging stations are the fastest and can provide a range of up to 300 kilometers in just 30 minutes, depending on the vehicle. As you might expect, the cost of electric vehicle charging stations increases as charging speeds increase.
One of the most important costs associated with electric vehicle charging infrastructure is the cost of charging equipment. Level 1 charging stations are the most basic and inexpensive, ranging in price from $200 to $1,000. These charging stations normally plug into a standard wall outlet. However, there are still additional installation and labor costs depending on the location of the EV charger. You may need to get electrical wiring, network updates, and necessary permits.
For businesses, level 1 charging of electric vehicles is insufficient for daily use due to long charging times. If your company is interested in Level 1 charging, you should analyze your vehicle’s daily usage and mileage to determine if Level 1 EV charging will meet your company’s needs.
Level 2 charging stations are much faster than Level 1 stations but cost more. Level 2 EV charging station prices may vary by manufacturer, model, features and installation costs. Generally, the devices themselves can cost between $1,500 and $5,000.
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