With no less than 12 high-end car manufacturers planning to go all electric by 2030 and many more brands going all electric by 2035, 37 business owners and other interested persons tuned in to hear how meeting this change could mean smart business. A panel of professionals spoke specifically to electric vehicle (EV) charging stations as a business opportunity during a webinar on February 16 hosted by the Cos Cob Library and organized by the Conservation Commission, Greenwich Chambers of Commerce and the Sustainability Committee.
Despite leading the state in registered EV’s, having 10% of the 17,000 electric vehicles in CT, Greenwich has only one public, universally accessible charger in town – that being at town hall. According to Aleksandra Moch, chair of the Transportation Subcommittee of the First Selectman’s Sustainability Committee, “Private and public sectors of town have been remiss in stepping up to meet the future needs of EV’s.” Adding, “The point of this seminar is to make the pitch that there is a business in providing charging stations.”
Anthony Moore, Pedal Greenwich and seminar moderator opened the session stating the ultimate goal is to make charging stations “ubiquitous” to meet growing needs and advance EV’s.
The presentation included four stakeholders who provided essential information for business people and entrepreneurs considering a commercial model that includes charging stations.
Chuck Brody, director of strategies, Tumalow, Inc. spoke to existing and planned infrastructure in CT. “Currently there are 360 charging stations in CT. If the state’s goal is to have 125,000 EV’s by 2025, there will be great demand for charging stations” Supporting graphics reinforced opportunity in Greenwich as the town is also located within the major transportation corridor. Drivers coming off the highway are a source of revenue during their charging time as they can shop or visit local restaurants, cafes, etc. Charging can last 20-60 minutes.
Mr. Brody emphasized the time it takes to charge depends on the level of your charger and the car’s capacity to receive the charge. He sees the future of fueling service “to be a mixture of [fueling] services and customer experience. This is not just a prospect for gas stations, although they are a natural partner.”
JuiceBar, a Norwalk-based company manufacturing charging stations in the US was represented by Paul Young, VP of sales. Mr. Young spoke to the US goal of having 13 million charging stations nationwide by 2030, with 90% of those being at home or work. With 36% of US drivers stating their next car will be an EV, “…charging stations went from nice to have to a must-have, in terms of attracting customers, employees and tenants.” explained Young.
Currently, there are 16 EVs for each public charging station nationwide. JuiceBar sees this as a prospect to showcase their charging ports design, charging capacity, and for the station host, branding/messaging opportunities.
Enoch Lenge of Eversource brought light to the financial aspect of the business. The CT EV Charging Program of Eversource can provide rebates of up to 50% for the chargers and up to100% for the installation costs, with the highest levels of rebate going to projects in underserved communities.
The idea of a refueling station or other commercial applications is not just a concept. Michael Frisbie from Noble Gas highlighted his business and ideas for future ventures. “Adding EV chargers” he stated, “makes a business more attractive and there is a high demand for them especially within newly developed areas. This is the future we have to get ready for when following the rapidly growing demand.” Citing Greenwich as a market with that growth expectation.
Mr. Frisbie touted Noble’s plans to integrate EV charging into mixed refueling stations. Presently, Noble Gas has locations in CT where recharging ports are front and center on par with their gas pumps. Refueling ports and pumps are paired with a convenience store and indoor and outdoor seating to host EV owners. He envisions expanding to multiple uses on one property to create a venue to recharge both car and body.
Panelists acknowledged EV recharging is not yet a profit making business on its own, but it is only a matter of time as the number of EVs continues to grow. Mr. Frisbie added, “This is an investment in the future and getting in the game early will definitely be advantageous.”
A copy of the recorded webinar is available at Cos Cob Library website at https://www.youtube.com/channel/UCXZNfQBttPvWPUBXs8L5dvw/videos or go to Cos Cob Library/Learn/Recorded Events
