May 13, 2023
EVs are gaining more and more popularity the need for EV charging stations is increasing. The cost of installing these charging stations is high and hence the question arising now is about how to decrease the costs of these EV charging stations, it is crucial to decrease these costs for the widespread adoption of EVs. By decreasing the cost of these charging stations, we can help to accelerate the transition of people from traditional to electric vehicles and thereby creating a sustainable future for our planet.
Ways To Reduce Charging Station Costs?
The methods of implementing this change are numerous, ranging from government incentives to new technologies coming into existence. A few of them are listed below.
The Indian government is highly supportive in this matter, it has also aimed for 30% sales of EVs by 2030. Various government incentives are expected to come into action to drive the transition and ease the penetration of EVS in the country. For example, The government of Karnataka has provided grants of 4 crore rupees to their transport department for helping in setting up 100 EV charging points in Bengaluru city. Such incentives are expected to increase overtime to facilitate the opening of charging stations which will in turn reduce costs of installing charging stations.
Installing Charging Stations At Existing Gas Stations
Opening an outlet for just EV charging will cost a lot, however the costs can be significantly decreased if the charging stations are installed at the already existing gas stations as an addition to their operations.
This method would completely utilize the existing infrastructure also increase the availability of EV charging stations as there is an abundance of gas stations, it would also be a profit for the gas station owners as EVs will take over sooner or later and this could be a good way for them to prepare for the future along with offering a variety of services at their gas stations and transition to a more sustainable business model.
Using A Cost Effective Source Of Electricity
The source that the electricity is extracted from plays a huge role on its cost, In some cases using renewable energy sources such as solar or thermal power can reduce the cost of electricity while in some other cases using traditional sources has been proven to be cost effective.
The cost also depends on the location of the charging station as some regions might have higher electricity prices due to the distance from the power generation source or based on the availability of the sources. It can be said that choosing the most optimum and cost effective source of electricity based on the location of the charging station can help in reducing costs significantly.