How Businesses Can Benefit from Installing EV Charging Stations
When fleet owners adopt a technology en masse, it usually means that it offers substantial cost savings. If nothing else, the increased adoption of electric vehicles (EVs) in UK fleets seems to be a ringing endorsement for other businesses seeking ways to meaningfully cut down their overhead expenses.
Still, not all businesses are on board with the EV trend, with small-to-medium enterprises (SMEs), in particular, lagging behind in installing onsite EV chargepoints. However, there are several important perks to on-site EV charging point installation for businesses, even if they don’t need sizable vehicle fleets. Businesses that install EV charging stations will typically enjoy the following benefits:
1. Government Incentives and Support
Many SMEs understand the cost benefits of running EVs but lack the cash reserves or the cash flow to justify an out-of-pocket installation of EV chargepoints. Fortunately, subsidies like the government’s Electric Vehicle Infrastructure Grant for Staff and Fleets have significantly brought down the cost of electric vehicle ownership for SMEs, removing a key barrier in unlocking the everyday cost savings enabled by EVs.
2. Employee Engagement and Satisfaction
If there are enough employees who use EVs at a particular worksite, offering on-site EV charging facilities can be a serious employee perk. While there are costs associated with this benefit, they are rather minimal compared to other popular non-cash perks. To bring costs down, businesses can share the cost with employees or limit the amount of free charging available.
3. Positive Brand Image and Reputation
Cost savings are the primary reason for EV adoption in the UK, but environmental considerations are a key driver as well, particularly for the wider public. In the current climate, having EV charging stations at a workplace can significantly enhance a business's reputation and signal to stakeholders its commitment to environmental stewardship.
Reputation-wise, installing onsite EV chargepoints can be especially beneficial if a business has corporate social responsibility initiatives or a desire to reach out to other organisations with values rooted in sustainability. The presence of EV chargepoints may even help attract talents who want to work for environmentally progressive organisations.
4. Enhanced Customer Engagement and Loyalty
Building off the previous benefit, having onsite EV charging facilities can attract customers who prefer to deal with environmentally friendly businesses. If a business is willing to forgo some public grants, it could also even offer free charging to attract and retain customers who drive electric vehicles.
The presence of chargers could also encourage higher customer spending per visit and provide a serious competitive advantage over competitors without similar facilities. This approach can be especially beneficial for businesses where customers have to spend a lot of time on-site.
5. Additional Revenue Streams
Apart from encouraging additional customer spending, EV charging stations can also directly generate passive income for businesses. Depending on the numberof charging stations in a given location, it can make sense for businesses to set up for-profit stations to strengthen their cash flow and offset other business costs.
6. Energy Resilience
Energy costs can form a significant portion of overhead expenses for SMEs. In recent decades, developments in commercial-grade solar panels and batteries have allowed a small but growing number of SMEs to take their operations off the grid and reduce their energy expenses. Businesses with on-site power generation that want to further enhance their energy resilience and cost savings can consider setting up EV chargepoints to better optimise their energy mix.
7. Future-Proofing
Market pressures are not the only reasons to install EV chargepoints. With the UK aiming to take most non-EV vehicles off its roads by 2035, businesses can expect an ever-increasing amount of legislative pressure as well. Installing EV charging stations ahead of the deadline should drastically reduce the potential regulatory risks faced by businesses and enable them to enjoy all the other benefits mentioned. Moreover, staying ahead of expected regulatory mandates should give businesses an edge in seizing opportunities arising from the growing demand for sustainable transportation.
Seizing Fleeting Opportunities in the UK’s Electric Mobility Revolution
In Britain, the clock is now ticking on conventionally powered motor vehicles. Even if the 2035 deadline for EVs is pushed back yet again, global and domestic events are likely going to make electric vehicles the default for British roads. Businesses are not yet under undue pressure to install onsite EV chargepoints but they should, at least, consider the many benefits that are already being experienced by early adopters.
Most importantly, proactively integrating EV charging infrastructure before it becomes the default may just be what future-thinking businesses need to gain an advantage in the marketplace. With EVs fully set to take over, SMEs that want to remain competitive must plan for the inevitable shift towards electric mobility. Installing onsite EV chargepoints presents a once-in-a-generation opportunity to align with evolving consumer preferences while also enjoying a major leap in operational savings.