Slow, fast or ultra-fast? How do you invest in the most profitable charging station at each location?

How do you determine which type of charging station to invest in at each location? In a highly competitive market, you need maximum certainty in determining the most profitable mix of charging infrastructure. Follow the customer. The local activity around the charging stations is often decisive.

In Europe, the Netherlands and Italy are leaders in slow charging infrastructure. However, fast and ultra-fast EV chargers are also necessary and popular among many EV drivers. Should you invest in ultra-fast chargers or is it sufficient to install slower charging infrastructure?

Local activity: the indicator for the type of charging infrastructure

How long does a customer stay at a specific location? Local activity and the time customers spend have a major impact on the optimal charging capacity.

Each type of charger is most profitable for a certain type of facility:

• The customer spends less than 1 hour here: these locations include fast food restaurants, supermarkets, and coffee shops. These types of facilities are ideal for drivers looking for a quick stop to charge their electric vehicles while on the go. Ultra-fast EV chargers are the most profitable choice here.
  
  
• The EV driver stays here for 1 to 3 hours: this category includes fun shopping in retail, restaurants, bars, cinemas, tourist spots, and cultural outings. These facilities attract drivers who are looking for a longer stop to charge their vehicle while exploring the surroundings. Especially fast EV chargers seem to be the most opportune choice here.
  
  
• The driver stays here for more than 3 hours: this category includes facilities such as workplaces, hotels, and universities. These types of facilities are ideal for drivers who charge their vehicles while they work or attend a longer event. Of course, it is the slow chargers that are the most cost-effective here.

The more useful customers can spend their time around your EV charging stations, the higher the customer satisfaction and, of course, the higher the number of visitors.

Ultra-fast charging: worth your maximum investment?

The current number of fast or ultra-fast charging locations on the ChargePlanner platform is increasing at a record pace. With an increase of 29%, it is mainly ultra-fast chargers that are experiencing the greatest growth. Of course, this type of charger remains a heavy investment in a rapidly growing market. In specific locations where a fast charger would suffice in theory, it may still be worth investing in ultra-fast charging. 

Did you know that convenience is the most decisive factor for the success of an EV location? Optimal accessibility, visibility, and safety of these locations increase your potential revenue.

Especially in countries with a high number of business vehicles with charging cards (your customers are therefore less price-sensitive), ultra-fast charging infrastructure is a major asset in attracting as many drivers as possible.

Always determine the most profitable location for charging stations? With the ChargePlanner platform, you can calculate the exact revenue of each location thanks to AI and big data. This way, you invest with maximum certainty in optimal return on your charging infrastructure. Interested? Get in touch.