The demand for Electric Vehicle (EV) charging stations is rapidly increasing in the UK as more motorists embrace environmentally friendly alternatives to harmful fossil fuels. With a proposed ban on new petrol and diesel car sales by 2035, the adoption of EVs is accelerating, but a significant shortfall of charging stations is threatening to pose logistical problems for drivers, especially as between 8 and 11 million EVs are expected to be on the nation’s roads by the end of the decade.
For businesses, installing commercial EV charging stations offers numerous benefits, from attracting eco-conscious customers to meeting sustainability goals. However, before embarking on such a project, it is important to evaluate the associated costs to ensure a viable investment that delivers a healthy return on investment.
What Are The Costs of Commercial EV Charger Installation?
The average cost of installing a single workplace EV charger ranges from £1,000 to £1,500. However, UK businesses may be eligible for government grants, such as the Workplace Charging Scheme (WCS), which provides up to 75 per cent of installation costs. This subsidy can significantly reduce the upfront expense, potentially bringing the cost down to only £650 per station. Evaluating grant eligibility early in the planning process can substantially affect the project’s overall financial feasibility.
So, what other costs should business be aware of when planning to install EV charging points?
Electrical Infrastructure Upgrades
A critical component of installation costs is the state of the existing electrical infrastructure. Commercial properties may require upgrades to support the power demands of EV charging stations; necessary enhancements can include installing higher-capacity transformers, replacing circuit breakers, and upgrading electrical cabling. These upgrades, while essential, can add significant costs depending on the scale of the required modifications. Businesses should conduct a thorough site assessment to determine the extent of any infrastructure adjustments.
Ongoing Operational Costs
Once installed, operating a commercial EV charging station involves recurring expenses. The primary cost is the electricity used for charging, which can fluctuate based on wholesale prices and station usage. Also, routine maintenance is essential to ensure that the chargers remain operational and efficient. Maintenance activities may include software updates, hardware inspections, and occasional repairs, all of which can contribute to the total cost of ownership.
What Other Factors Can Influence The Cost of EV Charging Station Installation?
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Location: The station’s location and accessibility for EV users play a significant role in determining installation complexity and usage rates.
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Regulatory compliance: Adhering with local regulations, including obtaining necessary permits, can add to both initial and ongoing expenses. Businesses should consult with industry experts to ensure compliance and mitigate unexpected costs.
Don’t Waste Your Money On A Substandard Installation!
The key to ensuring you spend your business’s money wisely is to work with an experienced EV commercial charging point installer, such as Orion Technical Services, who can make sure that you develop fully costed plans and consider all potential costs from the outset.
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