How Much will it Cost to Install an Electric Car Charger?
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Installing an electric vehicle (EV) Charger at your hotel is generally simple and doesn’t cost much. EV Chargers also cost very little to run, but provide for a tremendous incentive for EV drivers to stay at your hotel. Hotels all over the world are adding low cost chargers to successfully attract more hotel guests. The cost model for EV Chargers is often considered to be very comparable to other services offered such as WiFi. Would a guest with a tablet or smartphone stay at your hotel if you din’t have WiFi? Currently, the best selling luxury car in the United States is a fully electric vehicle and luxury cars are a strong indicator of tomorrow’s mid-range cars. The trends clearly show the number of electric vehicles is increasing rapidly.
Purely for informational purposes. Costs will vary by region, property, energy costs, labor costs, and contractual obligations among others.
Return on Investment
A typical example situation of a 100 room hotel may be as follows:
A charger is installed for a total installation cost of $1,000. The charger attracts an additional 8 cars a month equating to $960 extra dollars of revenue per month @ $120/night. The delivered electricity cost is $17.60 a month @ $2.20 per car (see below for electricity cost comparisons).
Assuming a gross margin of 40%, the electric vehicle business adds $384 per month to the gross margin and therefore the breakeven point to cover the $1,000 installation cost is 21 electric cars or just under 3 months.
This example uses fictional assumptions and the actual ROI will depend upon many variables including costs, prices, and electric cars served.
Comparison of common appliances used by hotels. Providing an electric car charger for guests costs approximately the same as running a single mini-fridge 24/7 and less than using the air conditioning unit for 12 hours out of a day.