Top 4 Factors That Affect The Cost Of EV Charging Stations
Installing an Electric vehicle (EV) charging station is a daunting task in itself, and managing its cost is another thing.
Cost estimates play an important role in breaking down costs effectively. However, there are several factors on which this breakup depends. Thus, it is quite essential to know about these factors that will help in managing expenses and power consumption easily. So, keep reading on further to understand its nitty gritty in detail.
4 Main Factors Contributing To Cost Estimates Of EV Charging Stations
What type of equipment do you need at your electric car charging stations London? You have to be clear with the answer, as different types of equipment at your station can alter the whole budget. The type of charger level that you wish to install at your station will consume the major investment when it comes to equipment expenditure.
Level 1 charging level, which is commonly referred to as a residential charger, uses a dedicated 120V supply to charge the vehicles. The upfront expenditure to install the charger is low, but the charging speed is pretty less. It is not a practical solution to install when you wish to start a commercial EV charging station as it requires long hours to charge the vehicle to its full capacity.
On the other hand, DC charging or Level 3 charging stations use a 480V supply to charge a vehicle in a matter of a few minutes. However, the installation charges for the whole circuit at the station and the equipment cost associated with it are pretty high.
So, most charging station owners opt for Level 2 charging supplies at their EV charging stations which offers a good balance between the overall cost and power. The charging station with Level 2 charging uses a 240V line to charge the vehicles to their full capacity in 6 to 10 hours. Moreover, the overall investment in equipment is pretty less than DC charging.
Infrastructure plays a crucial role in deciding the cost of the whole commercial EV charging station. Typically a charging station delivers electricity to the incoming vehicles via its connection to a utility company. If you wish to connect to an existing 240V circuit, then you may require an electrician’s services for a few hours. However, if you wish to install a dedicated 480V circuit at your station, then it will hike the overall installment expenditure to thousands of dollars.
An electrical upgrade to a higher voltage circuit involves several expenses that are associated with new electrical panels, cables, meters, transformers, etc. Moreover, the upgrade may need trenching, boring, and cement work to lay all the power lines.
The commercial EV station owner has to invest in proper software that connects with the utility company and allows them to collect and analyze all the data of the stations. With this data, the company can get deep insights to improve its services and cater to the needs of its users properly.
Some miscellaneous expenses are associated with the commercial EV charging station, which depends on the custom requirements of the owners. Some may choose custom striping of the parking area and proper signage for smooth traffic management at their stations, while some want protective bollards to protect the machinery and equipment at the station. These expenses can vary as owners have different needs for these station extras.
It is advised to opt for a good partner that is capable of linking with all the parties to install these extras at the station and manage everything properly so that you can reduce the stress on your shoulders.
The Bottom Line
The cost of an electric vehicle charging station constitutes much more than installing a simple charger. For minimum expenses and maximized value, businesses need to take into account these noteworthy factors for smart money saving.