Ben Hugh, EV Business Development Manager for the UK at Europe’s largest electric vehicle charger manufacturer, Vestel, examines why SMEs should invest in EV charging.
If your business owns car parking spaces, even just one or two, there has never been a better time to install EV chargers as part of your business plan from now on. Alongside the positive environmental impact and enhanced brand image, customer and employee attraction/retention benefits and simply making a profit from commercial charging are strong drivers to invest.
The surge in EV usage is fuelled by increased environmental awareness and supported by UK government initiatives, European legislation on overseas manufacturers and UK public opinion. While the latter has suffered a slight dip recently as the typical Gartner Curve adoption of new technology moves to a ‘disillusionment’ phase, the writing, and soon chargers, is on the wall for an electrified future for UK transport.
As this is a business magazine, let’s look at the commercial aspect of installing EV chargers first. If you have two parking bays, you could serve both with a small commercial charger with twin 11kW outputs. That is unlikely to require an infrastructure upgrade to your business’s electrical supply, and assuming there isn’t massive groundwork or distances from the building involved, the cost to install something like a Vestel EVC10 twin-output EV charger could be as little as £3,000. Moreover, the UK government offers various grants and incentives to businesses installing EV charging points, such as the Workplace Charging Scheme (WCS), making it a cost-effective investment.
With average commercial EV charging costs around 75p/kWh and average electricity costs nearer 40p/kWh (and potentially far less at night), just a single 22kW charger could generate well over £7 per hour in profit. While you may have fewer customers using them at night (or not if you advertise the service to the local community), those profits will be much greater if you have a low-rate nighttime tariff period. Installing multiple chargers may require upgrades to your incoming supply, but the payoffs are multiplied.
Even if the concept at your business premises has more costly installation requirements and a longer pay-back time, commercial properties equipped with EV charging stations are increasingly desirable. This amenity can enhance property value and appeal, making it an attractive feature for potential tenants or buyers.
Arguably, the less direct commercial benefits of installing EV chargers at your premises could have an even more significant impact on your bottom line.
The eco-conscious consumer or business is a growing demographic in today’s market. These consumers make purchasing decisions based on the environmental impact of the shops and businesses they visit, and many companies are switching to electrified vans for the same reason. Businesses can attract this audience by offering EV charging facilities, demonstrating their commitment to sustainability and environmental responsibility.
Inside the business, workplace EV charging is more than just a convenience for employees who own or are considering EVs. The workplace becomes a primary destination charging point for those who cannot easily charge at home. Businesses offering such facilities are often viewed as progressive and employee-centric, which can be crucial in attracting and retaining top talent.
Given that battery and plug-in hybrid cars now account for over 25% of new car sales in the UK, that concept will only grow. The transition to electric vehicles is not a matter of ‘if’ but ‘when’, and early adoption of EV charging facilities ensures businesses are not playing catch-up in the future. It demonstrates foresight and preparedness, qualities valued by employees, customers and partners. Today’s business market is not just about what you sell or offer but also about what you stand for – and this enhanced image can differentiate a business in a crowded marketplace.
There is no harm in marketing these initiatives and ensuring stakeholders and customers understand your green investment. Joining a network of environmentally forward businesses opens new avenues for collaboration and partnerships. It can lead to opportunities to participate in sustainability-focused community or customer events and campaigns.
Beyond the business benefits, there’s a broader impact to consider. Supporting the transition to electric vehicles contributes to national and international goals of reducing pollution and our dependency on fossil fuels. It’s an investment not just in the business but also in the community, the environment and the planet. By facilitating EV charging, businesses directly contribute to reducing emissions, playing their part in the collective effort against climate change.
For many businesses, the major hurdle to installing EV chargers will be that they are a tenant business that does not own the property or land. Given the positive impact on your business of offering EV chargers, even if your landowner installs and benefits from the commercial profits, there are still plenty of reasons to embrace charging your business for the future.
