Government authorities back only a few serviceable things, but anything which is backed by the government never vanishes from the market even after many years. One such thing is electric vehicles(EV).
According to Global EV Outlook, the number of EVs on the road will reach 125 million by the end of 2030. This rapid expansion opens up many doors of opportunities in electric vehicle charging station or EV charging station business.Following graph clearly depicts that demand for EV charging stations has been constantly increasing. In August last year, Centre for American Progress released a report which says that the USA alone will need more 330,000 new charging stations to satisfy the large demand in the EV market.
In this blog, we are going to talk the same. We will discuss the business possibilities of building EV charging stations and developing the EV charging station management software. We will also discuss the business model you can follow to earn maximum profit and how much does it cost to develop EV charging station management software or EV charging station app. But before all of this, let’s first fathom what is EV charging station and how an EV charging management software helps both users and owners.
What is the EV charging station?
An EV charging station also called electric recharging point or EVSE (electric vehicle supply equipment) is the infrastructure that supplies electric energy to recharge the battery of electric vehicles including an electric car, bus, e-scooter, and even e-bike.These EV charging stations are equipped with different size of outlets or nozzles which users need to plug-in the EVs. Generally, outlets work on the DC standard power supply and the electricity it generates to charge the EVs depends on the types of EV charging station infrastructure - either a conventional EV charging station or an EV charging station that generates energy from solar panels.Before adopting DC standard, USA went after Level 1 (120 volt AC) and Level 2 (240 volt AC) standards. However, those two standards didn’t offer the fast charging facility like the DC standard. DC charging generally supports 500 volts which can fully-charge an EV 50% faster than the Level 1 and Level 2.
Scope of building EV charging stations and top EV charging unit suppliers
It’s very obvious that the users you will get for your EV charging stations are the people who own some sort of electric vehicles. So, let’s just repeat it again - the number of EVs on the road will reach 125 million by the end of 2030.Today, the government and some user groups understand the fact that how EVs can solve the global warming issue and reduce the cost of transportation. As a result, people are opting more for EVs and governments of all countries are pushing carmakers to build more reliable and affordable electric vehicles.Recently, the electric vehicle market has evolved dramatically with the advent of a few e-scooter rental companies. All major cities are currently flooded with tiny e-scooters which run on the rechargeable batteries. According to NACTO report, 85,000 e-scooters are available in the 100 major cities of the USA to rent out. NACTO report also quotes that the adoption rate of e-scooters in major cities is more than 70% which shows us that people are making themselves comfortable with EVs and using it quite often.Another reason why you need to build an EV charging station is the fact that building an EV charging station costs a little and ROT is very high. According to a case study published by U.S Department of the Energy, the average cost to build the EV charging station, having standard 240-volt outlets, ranges between just $435 and $979.The following chart includes the most popular EV charging units available in the market.
Profitable business model, you can follow in EV charging station business
In the EV charging station business, the business model is very straightforward yet profitable. You can earn money in so many ways.The first way you can earn money is by asking them to pay for the number of minutes they keep the electricity nozzle or outlet plug-in. But if your EV charging station is armed with fast charging facility, you need to define the premium cost structure for it. Here it is worth to mention that it is not a rational idea to craft the cost structure based on the EV vehicle types or battery types if you are planning to run an unmanned EV charging station where no one is employed to check the battery types before charging it.Another way you can earn money is by developing EV charging station app on which many charging stations are listed and if someone books his spot through the app, you can take a commission from the owner of that charging station. Having an EV charging station app or EV charging station management software is beneficial for your own EV charging station too. How? Let’s find out.
The usefulness of Developing EV charging station app or EV charging station management software
Taking business online is perhaps the most intelligent move a businessman can ever make. Talking about the EV charging station business, a mobile app can be the best investment. It does not only increase the visibility of your business but avails you to generate more revenue streams.An EV charging station app always makes sure that people don’t have to wait in the line at the EV charging station. It lets them book the spot prior to need and when they are done with the charging, they can simply pay from the mobile app. This, of course, seems like a very convenient way of charging EVs for the owners of such vehicles.You as the admin can also derive a lot of benefits from the EV charging station app. From the admin panel, you can see a lot of statistics related to your EV charging station business, including the daily profit, the power consumption of each station, customers’ details, failed and successful payment transactions, and customers’ issues and feedback.So, if you are thrilled to develop EV charging station app or EV charging station management software, the feature set is the most crucial requirement you need to satisfy. A research team of Coruscate has listed out a few features which should be there in the EV charging station app.Click here to get free EV charging station app demo :
Features you should integrate into EV charging station app or EV charging station management software
- Ask users to add minimum details while signing up.
- Show them the all nearby charging stations with the occupied and available charging units.
- All charging stations should have all necessary information like the waiting time, types of power outlets, per-minute charges and distance from the current location.
- Allow users to book the spot.
- When users reach the charging station, he can claim his booking by scanning the QR code.
- Let users pay in multiple ways.
- If possible, add a reward program.
- Enable users to share their experience which is visible to all users.
How much does it cost to develop an EV charging station app or EV charging station management software?
Coruscate is the top mobile app development company, having a topmost position in the e-scooter rental app development business. Our skilled designers and developers are so clever that their every app goes viral as soon as it hits the market. They develop such apps which help app owners to dominate the market quickly. We not only develop and deliver the app, but we become the business strategic partner of our clients to assist them throughout the business journey.With our rapid app development technique, we can develop and deliver the mobile app within 45-55 days and under $10k.To know more about the app features and ask for a free consultation, contact our app scientist and business expert today.