How to Make Money with EV Charging Stations – Guide

EV Charging Stations

With your own EV charging facilities, you can not only save but make money as well. The nature of the money-saving benefit lies in the opportunity to feed your car at home or in-house instead of using public EV charging stations. The ground for the money-making benefits lies in the opportunity to rent out your station to other EV drivers.

Make money by renting out your EV charging facilities

To start with, let’s clarify that it is possible to earn money with both home and commercial EV charging stations. By the way, for businesses, there is an opportunity to increase their ROI related to arranging their EV charging facilities – when turning to an EV charging station franchise. To know more about whether this cost-effective solution is available for you, make your research about an offer your EV charger seller provides.

How can you make money with your EV charging stations? Through the fees you set for using your station as a chargepoint. If you want to take full advantage of this opportunity, we recommend setting the following fees in a bunch:

  • Access fees
  • Parking fees
  • Idle fee

For example, with access fees, you may compensate the money you have paid for EV charger installation. With parking fees, you may compensate money you have paid for arranging parking near your charge point plus set a profit-generating markup. At last, with idle fees, you may compensate the risk of profit-loss you may face while a car occupies your facilities after the session ends and, thus, prevents other drivers from using it as designed.

Make more money by increasing your chargepoint visibility

To move to, you can just set your tariff and wait till an EV driver comes across your EV charging station. Or you can host it on some chargepoint network backed up with its own mobile app.

This way, you will increase the visibility of your EV charging station greatly. In other words, the in-network integration works like a promotion tool for your amenities. To clarify, EV drivers open the app to learn what EV chargepoints are available in the desired area. If your EV charger is on the listing here, they will see it and will possibly choose it to feed their electric cars.

Obviously, an increase in visibility will result in an increase in using your EV charging amenities. In its turn, this will boost your sales of charging sessions and bring you a greater profit.

To end with, the higher visibility of your chargepoint and the higher demand for it, the higher fees you can set. And the higher profit you may enjoy.