With the UK’s battery electric vehicle (BEV) market share projected to reach 28% by 2026, the potential earnings from EV charging points are set to rise. However, many investors remain unaware that this can be a sustainable and lucrative long-term income source.  

Businesses need to act quickly to capitalise on growing EV sales and maximise their share of emerging market opportunities. Successfully monetising existing EV infrastructure requires a deep understanding of potential revenue streams to ensure long-term profitability. But what’s the best strategy? And how can you implement a successful model?

What are the options for new revenue streams from EV charging?  

Provide public access to charging

Publicly available EV chargers for consumer use during off-peak hours (for example, evenings and weekends) can increase usage and revenue when charging points are underutilised. Organisations could introduce a 'pay-per-use’ scheme with minimal operational costs.  

Integrate your charge points with charging networks

One of the easiest ways to increase your EV chargers’ usage is by integrating them into established charging networks like Zap-Map. Platforms like this allow drivers to locate and access chargers through an app, ensuring your charge points are visible to a broader audience.  

Swap to tiered pricing and membership plans

Some businesses with publicly available chargers can boost revenue with demand-driven pricing and subscription models. Based on usage, time, or subscription levels, your pricing can offer a tailored model to different customer needs.

Offer branded partnerships and advertising

EV chargers can be a valuable location for business advertising. Partners you work with can promote your charge points through on-site signage, logos, and branded messaging. If you’re a business with EV infrastructure or upcoming installation plans, you can bundle these elements and offer them as sponsorship contracts.   

Secure corporate partnerships for dedicated charging 

For businesses in high-traffic areas like airports, retail centres, business districts, and logistics hubs, there is a prime opportunity to establish corporate partnerships with companies that have EV fleets. One example is to offer exclusive or priority access to your EV chargers for these companies in exchange for a contracted fee or revenue-sharing model. These partnerships can provide a steady, predictable revenue stream. 

Don’t forget the upcoming opportunity of Vehicle-to-Grid (V2G) charging

When there is high energy demand across the UK, if you have a bi-directional charger (required for V2G charging), you can send energy back to the network from your electric fleet, as well as charge when grid demand is low. This is an opportunity to generate additional revenue by providing grid stability services.  

Expert advice for funding EV charger installations  

Partner with the experts

It pays to engage an expert to support you in implementing charging facilities. Expert partners will analyse your operational requirements and tailor an electrification roadmap that suits your budget and goals while helping you avoid costly mistakes.

However, partnering with experts who know EVs and energy like Drax Electric Vehicles can prepare you for an energising future, all while facilitating electrification. This means cost savings, future-proofed investments, ongoing compliance, and a prime position for wider opportunities, like V2G technology and demand side response (DSR) markets.  

Spread the cost and the risk

Last year, Drax’s research revealed that the most cited reason for installation hesitancy is, predictably, cost. The initial outlay required for necessary groundworks, hardware purchase and installation is often more than organisations can cover within a single financial year. That’s where financing options can be a lifesaver. Check if you can spread the cost of your EV chargers with your provider or EV partner.   

Government grant opportunities

Don’t forget to check and use available government grants, tax credits, and incentives to facilitate the installation and expansion of your EV infrastructure. This is a cost-effective way to expand or upgrade.  

Naomi’s final thoughts

Overlooking the revenue potential of EV infrastructure is a costly mistake. The question isn’t if EV charging will generate income – it’s whether businesses will capitalise on it before their competitors.