EV Drivers Spend More: Benefits of Longer Charge Times
When EV drivers spend more time charging, they spend more money shopping. If you’re thinking of installing fast chargers at your retail shopping mall, there are benefits to longer charge times for you and your customers.
Charging Speed and Dwell Time
Direct current (DC) fast chargers come in different speeds and configurations. For many EVs, 150kW chargers can provide 200 miles (320 km) of range in under 30 minutes. A 50kW charger can take more than 40 minutes to deliver the same amount of range. In EV charging, time spent at the charger is called dwell time. Charging speed directly correlates to dwell time: Slower charging speeds mean longer dwell times. And choosing faster chargers to get shorter dwell times isn’t always the best for charger owners and EV drivers. At a highway rest stop, drivers need the shortest dwell time possible. When they’re shopping, however, they can spend more time charging—dwell times don’t matter as much. Choosing chargers that have longer dwell times have several benefits.
Shop More, Sell More
Longer dwell times mean customers have more time to shop, which can result in more sales and higher revenue for businesses. While waiting for their car to charge, customers will have more time to browse the aisles and make purchases. They’ll be more likely to purchase additional items or services, like snacks, drinks, or even car washes.
EV drivers typically have higher incomes than average and have higher spending potential. Charging network EVgo surveyed users about their charging and spending habits in 2022. They found that EV drivers spent about $1 a minute shopping while their EVs charged. That means EV drivers can spend $40 or more while their EV charges, and possibly visit shops and buy goods and services they might not otherwise purchase.
Lower Installation Costs
Lower-speed DC fast chargers typically have lower installation and site construction costs than higher-power DC fast chargers. Our standalone RTM75 charger can be configured to deliver 50-75kW and doesn’t require any additional equipment. Higher-power chargers like our PKM150 can deliver 100-150kW of power but require additional equipment.
The Tritium RTM75 standalone charger is also compact—about the size of a single mattress stood on its end—and can easily fit in tight spaces in supermarket parking lots and garages. It can also easily be upgraded from 50kW to 75kW over time to meet customer demands.
There are many incentives available for businesses to install EV chargers. Charger rebates and tax breaks are available in the United States, Europe, and the United Kingdom. These incentives can help offset the cost of installation and make it a more cost-effective solution for businesses. In the US, they include:
United States: Inflation Reduction Act Alternative Fueling Credit in the US
The Alternative Fueling Credit is a general business tax credit for any company or organization that installs DC fast charging stations. It will offset up to 30% of the total costs of purchase and installation of charging equipment, up to $100,000 per charger.
European Union: Green Deal Industrial Plan
In February 2023, the European Union presented the Green Deal Industrial Plan, which will enact faster permitting, financial support, enhanced skill training, and open trade. The Green Deal Industrial Plan will also include tax incentives and grants for businesses to purchase and install charging infrastructure.
United Kingdom: EV Infrastructure Grant for Staff and Fleets
This grant covers up to 75% of the cost of installing charging infrastructure up to £15,000 per grant. The grants are part of the UK government’s larger program to help build EV charging infrastructure throughout the UK.
Choosing the Right Charger
If you need help choosing the right charger for your supermarket or retail shopping mall, reach out to one of our experts today. We can help you find the right chargers to meet your needs, help you plan installation and construction, and help you find maintenance and repair providers in your area.