Why You Should Start an EV Charging Station Business

The growth of the electric vehicle market is a huge reason to start an EV charging station business. Based on statistics from the Edison Electric Institute, the number of EV cars hit over 1 million in 2018 with projections of the market hitting 3 million by 2021. In addition, the same study shows that over 18 million EVs will hit U.S. roads by 2030. With such an uptick in the number of EVs, starting an EV charging station business seems like a no-brainer.

Adding to the allure of starting such a company is that many small, medium, and large businesses have begun to add EV charging stations at their offices. Both employees and customers are typically allowed to use the stations. As a result, the installation of such charging stations can boost employee morale, customer perception, and company reputation.

But Are EV Charging Stations Profitable?

Charging stations certainly have perceived profitability. Yet hurdles still exist. One of the greatest obstacles is dealing with demand charges. Demand charges are a momentary rise in the cost of electricity during peak hours levied by energy companies. As a result, the rise in cost during peak hours must be offset by the price, much like the ways that Uber and Lyft have surge pricing.

The current problem is that there aren’t enough EVs currently to make most EV charging stations profitable during peak hours. However, the rise in EV usage and the current projections mean that the innovators and early adopters could reap monetary benefits within a few years.

How to Start an EV Charging Station Business

Many clean energy companies can facilitate and streamline the process of your EV charging station business. Not only can they help you sort out a great location, but they can also install the charging station and provide routine or emergency maintenance. Furthermore, these companies make certain that you receive any tax credits in your state or municipality. As a result, you can minimize your costs while also receiving tax breaks.

Commercial vs. Private EV Charging Stations

Commercial-grade EV charging stations are available to businesses and consumers alike. However, many private EV owners opt to charge their vehicles by using their home outlets or a home-friendly fast-charger.

Read Also: HOW CLEAN ENERGY IMPACTS THE ENVIRONMENT AROUND US

For those who want to start an EV charging station business, commercial-grade systems are more expensive but far more lucrative. Instead of taking 10 or more hours to charge the vehicle, most systems can charge a battery by up to 80% in just 1 to 4 hours. Therefore, these options are far more viable to build a business.

As the EV boom continues, the feasibility and profitability of an EV charging station is evident. With a bit of help from a reliable, reputable clean energy company and a touch of entrepreneurship, individuals can turn a business dream into a lucrative reality.

Want to discuss clean energy? Give our team a call, we are the clean energy company of choice for many businesses nationwide.  We will be glad to assist you with all your questions and help you as you plan to move forward.

The post Businesses Across the U.S. Are Adding EV Charging Stations first appeared on 3 Phases Renewables Inc.

Advancements in Fuel Cell Technology

In June 2020, researchers from Washington State University made key advancements in solid oxide fuel cells. Using these cells in vehicles provides a low-pollution and high-energy alternative to gas combustion engines. Interestingly, these cells don’t run on hydrogen, but on power sources such as diesel, biodiesel, and regular gasoline. But because of these high-efficiency cells, cars could run farther than ever before.

World-Record Solar Power Production

Resistive barriers inside of solar cells have often caused electrical impedance within solar systems. Until April 2020, the highest amount of efficiency in solar panels for commercial uses was around 20%. But thanks to scientists at the National Renewable Energy Laboratory, this number has been increased to 50%. How quickly this technology can be applied at low cost remains to be seen, but the research is a promising start to full-scale adoption of solar energy.

Wind Power Boom

According to researchers from Cornell University, a study has outlined numerous ways to push the U.S.’s wind power usage from 7% to 20% as planned by the U.S. Department of Energy. Using a supercomputer, these researchers explored plausible scenarios of how wind power can expand rapidly and how to complete the task. Armed with this information, builders, companies, and government officials may be able to increase wind power usage substantially ahead of schedule.

How Companies Can Benefit From Renewable Energy

Renewable energy programs such as solar power, wind power, or electric charging stations for vehicles are exceptional ways to cut energy costs, improve social responsibility, and create an example for its employees. From a business standpoint, the reduction of monthly utility costs and the improvement of a company’s reputation are two worthwhile reasons to invest in renewable energy infrastructure. Plus, the costs of these systems continue to drop as more governments implement tax credits and manufacturers continue to cut production costs.

Therefore, renewable energy is an advisable transition for companies of all sizes. Become an innovator instead of a laggard, and your company can reap the benefits of renewable energy in every aspect of your business.

Our clean energy team at 3 Phases Renewables has the expertise and solutions to help your business do its part and save.

Renewable energy is a necessary part of the equation for the health of the planet and the survival and enjoyment of future generations. Despite the continued use of fossil fuels, companies and innovators around the world continue the development of alternative and sustainable energy sources. By bringing this research, development, and application to the attention of industries and individuals, the world just might turn itself around. All it needs is a bit of help from humankind.

The post Renewable Energy News in 2020 first appeared on 3 Phases Renewables Inc.

How Business Are Using Clean Energy

In some respects, businesses have a social responsibility to use clean energy whenever possible. The good news is that there’s a green energy solution for all types of businesses and budgets. Some of the most common types of ways that businesses gather clean energy is through:

• Solar power for buildings, electric cars, and plug-in hybrid vehicles.
• Wind turbines of various sizes.
• Other types of clean energy sources via an energy grid, including hydroelectric, wind, and solar power.

Although renewable energy sources are still in the minority of energy generation in comparison to coal, natural gas, and oil, setting an example can encourage other businesses and individuals to follow suit.

How Businesses Benefit from Clean Energy

Businesses can profit from clean energy in a number of ways. Although the initial cost may seem high, the advantages generated will provide benefits for years to come.

Improved Reputation

One of the non-monetary advantages of clean energy is an enhanced reputation. Showcasing your dedication to renewable energy through action instead of words can cause consumers to recognize and frequent your business. Plus, your approach to green energy is sure to entice new customers from other demographics and age groups that are more active in the adoption of clean energy.

Reduced Costs

Power generated by fossil fuels is costly. But by some estimates, switching to solar or wind power can reduce monthly energy bills by up to 25%. In addition, the federal government—as well as state and local governments—offer tax credits for businesses that switch to green energy. The total amount of tax credits varies from place to place, but they can help offset the initial cost of equipment installation.

Leading by Example

Becoming a frontrunner and trendsetter in the business world can not only improve your brand loyalty, but it can make a marked impact on individuals and other business owners. While this may not lead to immediate changes, planting the seed of green energy can eventually inspire others to do the same—expanding your clout and reputation.

How Clean Energy Makes Businesses Creates a Better Tomorrow

By using clean energy sources, businesses can build a better tomorrow. However, this starts with a sense of responsibility to improve the community that supports the business. While green energy has many benefits for businesses, it also helps the local community through better air quality, less global warming, and a better future with fewer problems for our children.

Clean energy isn’t just a fad in the business sector. It’s a company-wide feeling and belief that going green is the key to the future health of the planet. By joining the companies around the globe with green initiatives, your company becomes a steward of a better tomorrow. That’s something that your customers and employees will get behind.

The post How Clean Energy Impacts the Environment Around Us first appeared on 3 Phases Renewables Inc.

What Is Clean Energy?

Before discussing the perks of clean energy for your business, it’s crucial to understand what constitutes the phrase. Very simply, clean energy is renewable, zero-emission energy provided through the solar, wind, or hydroelectric means without the need for burning minerals or fossil fuels. Nuclear energy falls under the umbrella term of clean energy, as it produces zero waste, yet the risk of meltdowns and the contamination from catastrophes such as Chernobyl and Three Mile Island have halted plans to continue nuclear power.

Reduced Costs of Clean Electricity for Businesses

However, the rising popularity of solar power for businesses — a rise of 26% in the past decade — has reduced costs dramatically. Although the installation of solar panels is still somewhat costly, the reduction in energy bills offsets this initial cost. In addition, the price of fossil fuel power will continue to rise because it’s a non-sustainable resource. As the supply of coal, natural gas, and oil fall, economic principles dictate that the price will rise.

Clean Energy and an Enhanced Reputation

Social responsibility goes deeper than once-a-year volunteer days and charitable donations. It’s a calling to improve the well-being of customers, clients, and your community. By implementing clean energy, you show your understanding of the need for clean energy and the positive aspects it brings to humankind and the world. This increases trust and improves opportunities to expand your customer base as consumers look for responsible green companies.

Setting an Example

Competition is always fierce in a capitalistic society. To set yourself apart from competitors, you need to become an industry leader. One way to do that is by becoming one of the first in the industry to adopt clean energy. By setting an example, you set a precedent of clean, renewable energy for your particular industry. Not only does this require your competitors to take time and resources to match your example, but you build a loyal following of customers that respect your green principles.

Appealing to the Younger Generation

Millennials are a unique bunch, willing to pay more for goods and services based on the social responsibility of the selling company. However, their views on clean energy and renewable resources are unlikely to change as they age. Therefore, changing your business to clean energy allows you to engage and interact with these consumers, forging a mutually beneficial business relationship that can improve your profits over time.

Clean electricity not only fuels your business, but it provides ample advantages that entice customers and increase your bottom line over time. With a bit of knowledge and discipline, you can not only become a better business, but you can also create a better tomorrow for every human, plant, and animal on this big blue sphere.

Discover all the clean energy services we provide for your business at 3 Phases Renewables.  Recently named as an honoree for 2019 Best For the World Environment.  We look forward to hearing from you, contact us with any questions you have and partner with us for a better future.

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