5 Reasons To Install An EV Charging Station At Your Business
In the last few years, we’ve seen a massive boom in the prevalence of electric vehicles. Ten years ago, electric cars seemed a curious novelty at most, available to a select, wealthy few. Now our roads are more full than ever with environmentally-friendly electrically charged vehicles. While the growing popularity of such vehicles is a huge win for the climate (and their manufacturers), EVs still present one key problem: the charging station. Wave Electric Company gives you these 5 reasons to install an EV charging station at your business.
One of the primary cons of owning an EV is and always has been a lack of charging opportunities. Despite the boom in EV ownership, the necessary charging facilities have failed to keep up with demand. Installing a new charging station can seem like a daunting task without much benefit to you as a business owner. But when you closely examine the pros and cons, you’ll find the former far outweigh the latter.
1. It Brings In Business
Having a charging station installed at your business will act as a beacon for EV owners in your area. Like moths to a bright light bulb, EV owners in your area will flock to your charging station, especially if you occupy an area with a scarcity of stations. Charging stations bring traffic to your business. And not just traffic, regular traffic. The patrons of your charging station will return again and again to power up their vehicles. The people a charging station brings in will eventually be stopping by for more than just their daily charge. These individuals are sure to stop in and patronize your business after being there everyday for weeks and weeks.
2. Installing An EV Charging Station At Your Business Is Probably Less Expensive Than You Think
Most folks think that a charging station is a hefty, cost-prohibitive investment. And while it is true that a station is an investment, it’s not an unrealistic expenditure for a lot of business owners. It largely depends on how you get it installed, but it can cost little as $700 to install an EV charging station at your business, depending on the model. Ask your local provider about pricing options and you’ll probably surprise yourself.
3. It’s Good For Branding
You don’t need us to tell you how important branding is. Branding lets your customers and the general public know what you’re all about as an organization. People love to find businesses that support good causes and stand for the things they stand for. EV charging stations represent a shift toward green sustainable energy. The incorporation of these stations shows your customers that your organization supports sustainable energy and is environmentally conscious. This will drive brand loyalty and support for your business as consumers come to understand that you support causes that they endorse.
4. Tax Benefits
It’s been said that there are only two guarantees in life: death and taxes. A charging station may not be able to do much to stop the first one, but it can help your business out with the IRS. Because of their positive impact on the environment, the government has seen fit to allow tax benefits for individuals and businesses ready to embrace electric vehicles. Due to these new guidelines, it’s possible to receive a 30% tax credit of up to $30,000 dollars when you install an EV charging station at your business. As with all things related to taxes, your mileage will vary. We encourage you to look further into the IRS guidance on the subject to learn more about how exactly a charging station could benefit your business’s tax status.
5. State and Local Incentives
The federal government isn’t the only one trying to encourage folks to go green. Most state and local governments have also adopted programs to incentive individuals and businesses to install EV charging stations. A new 10-year incentive program created by the NJ Board of Public Utilities and signed by the governor in January 2020 can provide up to $500 per person for the purchase and installation of home charging equipment. Local incentives are even more varied, but it’s worth checking out what kind of benefits you stand to gain by checking out your area’s guidelines.
Contact Wave Electric Company To Install An EV Charging Station At Your Business
Wave Electric specializes in the installation of electric vehicle charging stations in homes and businesses throughout New Jersey, and can provide your patrons with a convenient way to charge their electric or hybrid vehicle without having to search for the nearest public charger. No more range anxiety. Call Wave Electric for more information on government-funded incentives and rebates you may qualify for if you install an EV charging station at your business! The licensed electricians at Wave Electric Co. offer same-day electric vehicle charging station services if you schedule before 2 p.m.