What do workplace EV chargers cost?
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On average, AC workplace EV chargers typically cost around €1,300 per charging port (excluding installation expenses). However, several factors influence the precise cost of workplace EV chargers, including the brand, model, functionalities, and often-overlooked installation costs associated with individual wiring and cabling of the stations.
In general, installation costs usually account for 60-80% of the total expenses and can reach tens of thousands if you're planning to install a larger network of 5, 10, or even 25 charging stations. It's essential to note that all the information provided here pertains to AC charging stations. There is a significant difference between AC and DC charging stations.
DC (fast) charging stations belong to a different category, typically costing around €50,000 per station (excluding installation costs, which usually amount to 30-50% of the total station purchase price).
For the purpose of clarity, this article will focus exclusively on AC charging. However, if you'd like to learn more about DC charging stations, check out our free guides: "Everything Your Business Needs to Know About DC Charging" or "15 Questions to Answer Before Investing in DC Charging."
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As more employees transition to electric vehicles, workplace charging has become increasingly important. The growing popularity of EVs is evident, with electric vehicle sales reaching a new record in 2022. If you've glanced at your office parking lot lately, you've likely noticed an increasing number of EVs.
Today, the workplace serves as more than just a parking spot; EV drivers expect to charge their vehicles wherever they go, including at work. In fact, the workplace is one of the most popular charging locations, with 34% of EV drivers regularly charging at their job. While meeting employee needs is crucial, installing EV chargers comes with a cost. How do you determine your installation expenses, and how can you maximize the value of your investment? Let’s explore the costs associated with workplace EV chargers.
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When considering workplace EV chargers, there are various cost components to keep in mind. For clarity, we’ll break them down into three categories:
1. **Upfront Costs**: These include the price of the equipment and labor costs for site surveys, preparations, and charger purchases.
2. **Ongoing Costs**: Maintenance and operational expenses, such as electricity usage, are ongoing concerns.
3. **Return on Investment (ROI) and Savings**: While initial investments are significant, EV chargers can lead to cost savings and even generate revenue, depending on the chosen business model.
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**Upfront Costs of Workplace EV Charging Stations**
Upfront costs are often the first consideration when thinking about EV chargers. These cover the actual price of the equipment and labor costs for surveying and preparing the site.
- **Price of Workplace EV Charging Station**: A typical AC workplace charging station generally costs around €1,300 per charging port (excluding installation costs). The cost varies based on features like charging speed, power output, socket types, cable lengths, and smart charging capabilities.
- **Installation Costs**: Installation costs often represent the largest portion of the investment. On average, AC charging station installations range from 60-80% of the total cost, potentially totaling tens of thousands for networks of 5, 10, or 25 stations. Factors such as location, site complexity, and government incentives can affect these costs.
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**Ongoing Costs of Workplace EV Charging Stations**
While the upfront costs dominate, maintaining the chargers is essential. Although charging stations are durable, regular use may require occasional maintenance, such as replacing cables or repairing sockets.
- **Maintenance Costs**: Yearly checks are recommended to prevent future issues and identify parts needing replacement. Opting for a maintenance plan or service agreement can save money by addressing problems early.
- **Operational Costs**: Beyond maintenance, consider the electricity costs. Using an average electricity price of $0.15/kWh in the U.S. and €0.25/kWh in Europe, charging a Nissan Leaf (64kW) costs approximately $8.68 (€14.88), while a Tesla Model S (100kW) costs around $14 (€24). With 10 cars charging for 8 hours daily, the cost could rise to $86.80 (€148.80) for Nissan Leafs or $140 (€240) for Tesla Model Ss. However, employers don't necessarily bear the full electricity cost, as various business models exist for workplace EV charging.
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**ROI and Cost Savings of Workplace EV Chargers**
Initially, installing EV chargers might seem costly, but within a few years, they can yield cost savings and even generate revenue, depending on the business model. Employers can either offer free charging as a perk or charge users, offering discounts to employees while charging full rates to visitors.
If you opt for the second model, your chargers may break even and even turn profitable within a few years, particularly if you open your stations to the public. This approach can position your business as a prominent public charging location.
For fleet operators, workplace EV chargers can unlock additional savings by providing transparency and control over charging costs, helping to choose the most economical options.
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**Future-Proofing Your EV Charging Investment**
While purchasing the charging station is a major expense, it's crucial to think long-term to future-proof your investment. Planning for easy expansion and increased power capacity can save time and money down the road. Additionally, advancements in EV technology necessitate staying informed about key features like EEBus compatibility, load balancing, ISO 15118 compatibility, and OTA updates.
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Investing in workplace EV chargers is not just about today's needs but also about preparing for the future. By doing so, you can enhance employee satisfaction, contribute to sustainability goals, and potentially generate revenue. To learn more about integrating EV charging into your company, check out our in-depth guide. If you're ready to install EV charging at your workplace, explore our EV charging solutions here.