Switching to electric vehicles, or EVs is a big commitment since we’re still in the early stages of this technology and have limited places to charge up. If you’re considering getting your own power supply but don’t know how to purchase EV charging stations, you should know that they’re expensive. However, there are several government incentives you can use to bring down costs.
At Crowe Electric, we’re professional electricians in Norwell, MA, who can install EV charging stations. Keep reading to learn how to make these decisions.
Make Sure Your Space Is Compatible in Norwell, MA
Part of figuring out how to purchase EV charging stations is ensuring your space can handle it. For charging stations, you need to ensure you have:
- Space for chargers
- Power supply access
- Good electrical infrastructure health
Worn-out electrical systems and tight spaces won’t cut it. They’re easier to install in large parking lots around businesses, but they’re much harder to incorporate into a small garage. Call an electrician to inspect the space and determine if you can handle the power of electric vehicles.
Factors Affecting EV Charger Installation Pricing
Electric vehicles are still pretty expensive, though some models have come down in price. Powering them, however, is an expensive endeavor, but there are handy incentives you can utilize to bring down the cost.
Factors affecting the price include:
- Charging station level: Charging stations have three levels. Level one is ideal for charging electric vehicles at home, level two is common at public charging stations, and level three stations are often at upscale or large businesses.
- Government incentives: There are several federal and state tax incentives you can use to cover a chunk of installation costs. Since EVs are greener options and on the rise, the government is happy to help you integrate them into your home or business.
- Infrastructure: If your existing infrastructure needs work before it can charge a vehicle, that will add to your costs.
- Brand: As with any product and service, some brands are more expensive than others.
- Warranty: You may have to pay extra if you want a forgiving warranty.
How To Purchase EV Charging Stations
There are a few ways you can go about purchasing an EV charging station. You can buy or lease to own or choose a monthly subscription model to make it more affordable. With the help of incentives and rebates, your own EV charging station isn’t out of reach.
Buy a Station Outright
Buying an EV charging station in full could cost around $50,000 or more, so you’ll want to have a lot of money saved up or work out a financing plan. Government incentives and rebates could knock off several thousand dollars, so be sure to research available offers in Norwell, MA.
If you’re able to purchase a station like this, it’s ideal for homeowners and businesses because you won’t have ongoing payments. Homeowners won’t be financially strapped down to payments, and businesses offering charging stations to customers can begin seeing profits almost immediately.
Lease to Own a Station
If you can’t purchase a charging station outright, many companies offer leasing options to make the endeavor more affordable. The downside, however, is that you can’t make use of incentives and rebates and will have to pay the full price over time. If you’re eager to get your station and can’t pay outright, this is a decent option.
Monthly Subscription
Not sure how to purchase EV charging stations on a budget? Forget purchasing altogether and go with a Charging as a Service option. You’ll pay a monthly subscription in lieu of a lease payment and can enjoy all the benefits of EV charging without going all in on a pricey commitment.
Keep in mind that this option is an ongoing subscription; you won’t own your charging stations. If you know you won’t be in your home or office building forever, then it won’t be a big deal. But if you want to sell your property, you could miss out on making money off of selling the EV charger that goes with it.
Let Crowe Electric in Norwell, MA, Explain How To Purchase EV Charging Stations
Getting into electric vehicles is exciting until you have to figure out how to purchase EV charging stations and if they have compatibility with your home. They’re pricey and require the work of a seasoned electrician — there’s no room for DIY projects when you’re installing one of these since they’re networked together and need specialized services.
Contact us for any problem, from installing electric vehicle charging stations to figuring out the causes of flickering LED lights.