In Fact, Most EV Charging Stations Don’t make Money!

The reality of EV charging is that most stations don't make money, and that's a harsh truth. While the electric vehicle market is growing rapidly, many charging stations are still struggling to turn a profit. The reason isn't that EVs aren't gaining traction—it's because too many people view charging infrastructure as just an accessory, not a legitimate business opportunity.

If you want to make EV charging profitable, simply installing plugs in the ground isn't enough. You need a solid business model and a strategy that aligns with the realities of EV usage. Here’s the key—location matters, but so does the right equipment and services. When you install the right chargers at the right locations, you can drive both revenue and reliability, ensuring that your charging station becomes a sustainable business.

In Multi Dwellings Units (MDUs), for instance, the installation of smart AC Level 2 chargers (7.2–19.2 kW) can result in high retention with overnight charging, providing recurring revenue. Fleet depots can benefit from a mix of DC fast chargers and Level 2 chargers, with predictable load and even potential for vehicle-to-grid (V2G) integration. The key to success in these environments is high utilization, with the right combination of equipment to meet the needs of customers or businesses.

For grocery stores and retail locations, a similar approach works. Installing a combination of DC fast chargers (150–350 kW) and a few Level 2 chargers can help to monetize dwell time and boost shopping basket sizes. Similarly, highway corridors benefit from ultra-fast DC fast chargers (350–600 kW) ideally with dual ports, along with amenities like coffee and restrooms, to increase both reliability and ROI.

Workplaces present another opportunity for EV charging. By installing networked AC Level 2 chargers (7.2–11.5 kW), businesses can optimize off-peak charging and offer perks for employees. Urban quick-stop hubs, especially those used by delivery drivers or rideshare vehicles, require reliable DC fast chargers (150–350 kW) that provide high turnover and rapid charging.

However, none of these locations will succeed without extreme reliability. A charging station doesn’t generate revenue if it’s offline. A customer will not return if they can't count on a station to work when they need it.

It’s More than just Selling Electricity

Revenue also goes beyond just the sale of electrons. By implementing idle fees, tiered pricing, subscriptions, and retail uplift, stations can increase revenue. Driver loyalty and fleet contracts can provide additional opportunities for consistent income.

Smart charging is a major factor in boosting margins. With features like load balancing, time-of-use (TOU) pricing, V2G, and battery buffering, you can reduce operational expenses, increase uptime, and maximize grid ROI. These intelligent solutions help ensure that EV charging becomes a truly profitable venture.

While incentives like the 30C tax credit and various state grants can provide a welcome boost, they’re the cherry on top. The real focus should be on developing a sustainable, profitable charging network that goes beyond just taking advantage of these incentives.

In the end, EV charging can be a highly profitable business—if you stop thinking of it like a gas station. The key lies in the location, equipment, reliability, and strategic thinking. Treat charging as a business, not just a service, and the profits will follow. If you do use the gas station model as a guide, think about the changes that have come to that business. Today most stations have snacks, drinks and other revenue generating options at their stop to boost revenue and provide engagement for consumers. Think restrooms, WiFi etc.

Conclusion

An EV Charging installation must be looked at as a consumer accommodation location and provide more that a poorly lit location with only partially working chargers and no customer services. The most appealing and well run locations will make a profit when drivers feel, safe and well cared for when they stop to charge. And that’s a FACT!

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