Investing in EV Charging Stations

We are seeing a radical transformation in transportation, and many of us don’t even realize it’s happening. The current presidential administration has set an aggressive goal that, by 2030, a full half of all vehicles sold will be electric. If that holds true, then by 2050, 70% of all cars on the road could be electric. 

We’ve already seen the massive strides that Tesla has made with their electric cars, but they’re far from the only car company getting in on the new wave. Electric cars are more than just a trend–they’re here to stay, and it appears that one day we’ll all be looking back in amazement at the time when we used to power our cars with gasoline and diesel. 

With this in mind, it hardly seems like a stretch to be investing in charging stations. In fact, it seems like the prudent and wise thing to do. This is not a technology that is going to disappear: if that was the case it would have been a flash in the pan twelve or fifteen years ago when the first electric cars were being released to the mainstream.

But the fact of the matter is that electric vehicles–and therefore EV charging infrastructure–is the wave of the present and future. 

Benefits of EV Charging Stations For Businesses

Whether you make the decision to buy a Tesla or another electric vehicle is one thing, but there’s no doubt that electric vehicle charging stations are business opportunities. Installing EV charging stations–whether as part of a current gas station or as their own EV-only station, is a prime opportunity for business owners. 

Charging stations are not hard to install, and they will attract and retain customers, EV drivers. These customers want to be environmentally friendly and have a focus on renewable energy, but that’s not the only thing that they want. The customers who stop at EV charging networks are the same people who will be stopping at current gas stations–they’re just getting a different kind of fuel. 

Consequently, the business model of an EV charging station doesn’t need to be necessarily different from a regular service station. The charging stations will be different but, currently, EV vehicle drivers spend more time at a charging station than at a gas station, not less. This means there is even more of a charging station investment opportunity because they will be more interested in going into the station to buy snacks, food, drinks, and more. 

EV Charging Solutions Are About More than Air Quality

EV charge points are great for the EV charging station who is selling the electrical power, but they’re also better for the stations’ bottom lines because gas stations and EV charging stations traditionally make the bulk of their money off of the goods sold inside the stores. And none of that is going to change. 

So you will not only be getting the benefit of making money in your stores, you’ll be getting tax credits for renewable energy. It’s a win win. 

At Cache Valley Electric we focus on excellence—the highest quality work always completed with integrity, performance, and precision.