Do you own a vehicle parking space? Here’s a new-age business idea that if you integrate with your vehicle parking, can increase your revenue by a significant percentage. The electric vehicle is the upcoming fuel that’s gonna take people from point A to point B in the future. In fact, it’s already happening, look at the government policies and the major companies and investors everyone is inclined towards electric vehicles and contributing in some way to this currently ongoing automobile revolution.
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Now that you understand how robust and effective this electric vehicle revolution is, let’s now see how you too can invest into this growing industry and be a part of this automobile revolution.
The need/demand for EV charging stations
Just as ICE vehicles refuel at petrol stations, electric vehicles need dedicated charging stations for refueling. However, electric vehicles can also be charged at home or anywhere there’s a working socket but unlike ICE vehicles their recharging time is relatively higher which gives us a logical reason why electric charging stations are going to be in high demand in the future.
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Today we are sitting at just 1% of electric vehicle penetration in India and in current conditions on average an electric 2-wheeler takes 3-4 hours, and a 4-wheeler takes 8-10 hours to reach an optimal battery percentage (Not necessarily 100%). I can assure you that these numbers will not look the same in future. We need less charging time for electric vehicles to make them socially feasible to own and improve their adoption rate and the charging stations are gonna play a huge role in reducing the charging time of electric vehicles.
So, it is evident that electric vehicles are the future, and charging stations are the key for massive EV adoption in India and I think those two are enough reasons to conclude that the charging stations are gonna be in high demand in the future.
How to install charging points in your parking lot:
Step – 1: Fulfill space requirements:
Even before thinking about installing charging points in your parking lot, the first thing you must check is how spacious your place is. Not just for the ease of customers but also due to the government’s regulations. Although the government doesn’t enforce any strict license requirements for setting up EV charging stations it’ll ask you to leave enough space for comfortable vehicle movement.
Step – 2: Get the infrastructure in place:
Necessary requirements for setting up a charging station in a parking lot –
- Chargers
- Transformer
- Necessary Civil works (for placing chargers, parking vehicles, etc.)
- Power supply set-up
- software support
Step – 3: Start setting up the chargers:
Now it’s your choice to select the charger variants, you can either install slow AC chargers (3.3kW, 7.2kW, or 10kW) or install the DC fast chargers (15kW, 30kW, 50kW, or higher). Ideally, you must install a mix of both slow and fast chargers to cater to all kinds of audiences.
For your electrical installations, you should give this responsibility to skilled electricians. But for your rough idea here’s what the charger installation should look like:
Your building/home main line will be connected to the transformer which will be stepping up or down your voltage/power. The chargers will be connected via the transformer and that’s all.
Step – 4: Software integration:
Done with placing chargers in the place? Now it is time to start integrating the charging station management (CMS) software with your chargers to manage it remotely and keep it in constant monitor.
The CMS usually comes with chargers, but you can choose to have third-party software for better functionality and connectivity.
Step – 5: Get the ball rolling:
After CMS integration you’re done with all the procedures and now you just need to open the status of your charger and the EV owner will start flowing to your parking lot to charge their EV. You can charge for both parking and charging and set the pricing based on your choice.
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How many charging points you can install in a parking lot:
Assuming you have parking space enough for 30 vehicles. You should install 7 – 10 chargers in a combination of slow and fast chargers so that you can attract both 4-wheeler and 2-wheeler EVs around your locality. Although the number of chargers is your choice you should install the chargers according to your own research and understanding of your locality.
Talking about government regulations, there’s no imposition to install any specific number of chargers but you must have at least one universally acceptable charging port i.e., CCS and Chademo.
Planning to set up a Charging station?
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Investment required to install EV charging at the parking lot:
It purely depends upon the scale you want to take your charging station but here’s a lumpsum amount required to set up your charging station in your parking lot. Suppose you installed 10 chargers among which 5 are 50kW DC fast chargers, 3 are 15kW DC fast chargers and 2 are 7.2kW AC slow chargers. Another thing you’ll need is a 5kW transformer.
Here’s the complete breakdown of all the investments required to set up a charging station in your parking lot:
Charger | 50kW | 15kW | 7.2kW | Total |
40 lakh | 4.5 lakh | 1.5 lakh | ₹46lakhs | |
Transformer | ₹35 lakh | ₹35 lakhs | ||
Installation | ₹4 lakh | ₹4 lakh | ||
Grand Total | ₹85 lakh | |||
So, in total you’ll have to invest ₹ 85 lakhs upfront for your charging station to be up and running.
Summarizing:
The electric vehicle revolution is ushering in high demand for dedicated EV charging stations, presenting a lucrative opportunity for parking space owners. Setting up a charging station involves ensuring adequate space per government guidelines, establishing the necessary infrastructure (chargers, transformers, software support), and choosing a mix of slow and fast chargers to cater to diverse users. Given a 30-vehicle parking capacity, you might install 7-10 chargers, with an initial investment approximated at ₹ 85 lakhs. This integration not only serves the growing EV community but also significantly boosts the revenue potential of parking lots.
Planning to set up a Charging station?
Connect with 1C for expert advice on EV chargers
