Retailers and Restaurants Key to Profitable EV Charging Infrastructure, Industry Experts Say

Retailers and Restaurants Key to Profitable EV Charging Infrastructure, Industry Experts Say

By Michael Harrison

December 9, 2024 at 01:42 AM

Adding EV charging facilities at retail and restaurant locations proves to be one of the most profitable strategies for expanding electric vehicle infrastructure, according to experts during a recent Center for Climate and Energy Solutions webinar.

Charles Satterfield, senior project manager at Atlas Public Policy, emphasized that charging stations generate revenue through two main channels:

  • Direct income from charging fees
  • Indirect income from increased customer traffic and extended visit duration

Research by Atlas shows that indirect revenue from additional sales typically exceeds the direct income from charging fees. This finding suggests a compelling business case for retailers to invest in charging infrastructure.

Jonathan Levy, an EVgo executive, highlighted specific success with grocery store installations. He noted that DC fast chargers tend to deliver better results for retailers compared to slower Level 2 charging stations, likely due to the shorter charging times that better align with typical shopping patterns.

Key benefits for retailers:

  • Attracts new customers
  • Increases dwell time
  • Boosts sales revenue
  • Creates competitive advantage
  • Supports sustainability goals

The panel, which included representatives from Georgia Power and EVgo, concluded that retail co-location represents a sustainable funding model for expanding EV charging infrastructure while providing mutual benefits for both charging providers and retail establishments.

Related Articles

Previous Articles