The electric vehicle (EV) revolution is here, and convenience stores are perfectly positioned to capitalize. But with so many options, how do you know if EV chargers are right for your store, and how can you make them affordable?
Is Your Store a Good Candidate for EV chargers?
Here’s what makes a c-store a prime candidate for EV chargers:
- High-traffic areas: Busy locations, especially near highways, capture both local EV drivers and those on road trips.
- Urban and suburban areas: Places with high EV adoption ensure a customer base ready to charge.
- Existing amenities: Coffee shops, restaurants, or well-stocked stores keep customers happy while they wait for their charge.
Charging Up Your Finances
The upfront cost of EV chargers can be daunting, but there are ways to make it work:
- Government Grants and Rebates: Federal, state, and local programs can significantly offset installation costs. Explore the National Electric Vehicle Infrastructure (NEVI) program and similar options in your area.
- Utility Rebates: Many utility companies offer rebates to encourage businesses to install EV chargers. Check with your local provider.
- Revenue Sharing: Partner with a charger manufacturer or utility company to share profits generated by the chargers.
- Smart Spending: Start with slower, more affordable Level 2 chargers and upgrade later if needed.
Financing Your EV Chargers
Here’s where EMR Finance comes in! We offer equipment financing solutions specifically designed for convenience stores looking to invest in EV chargers. Our financing options provide:
- Flexible terms: Spread out the cost of your EV chargers over a manageable period that fits your budget.
- Preserved capital: Keep your working capital free for other business needs.
- Simplified process: Our streamlined application process gets you approved quickly and easily.
Taking the Charge
Ready to join the EV revolution? Here’s how to get started:
- Research charger companies: Look for reputable brands offering installation and support services.
- Explore government incentives: Don’t miss out on valuable financial assistance.
- Consider a revenue sharing model: Share the profits and reduce upfront costs.
- Contact EMR Finance to discuss financing options: Let us help you navigate the financing process and make EV chargers a reality for your c-store.
By strategically adding EV chargers, your c-store can become a destination for eco-conscious drivers, boosting customer satisfaction and revenue. So, power up your profits, embrace the future of transportation, and make your c-store stand out from competitors!
Federal Resources
US Department of Energy Alternative Fuels Data Center: This website provides a searchable database of state, local, and federal incentives for alternative fuel vehicles and infrastructure, including EV chargers. You can filter by program type (tax credits, rebates, etc.) and location https://afdc.energy.gov/laws/state.
National Electric Vehicle Infrastructure (NEVI) Program: This federal program provides grants to states to build out a network of EV charging stations along designated corridors. While the grants are allocated to states, it’s a good resource to understand the national push for EV infrastructure and potentially explore opportunities through your state https://www.energy.gov/eere/vehicles/batteries-charging-and-electric-vehicles.
State and Local Resources
- Your State Energy Office: Most states have a dedicated energy office that provides information on clean energy initiatives, including EV incentives. You can find contact information for your state energy office through the Department of Energy website https://www.energy.gov/.
- Local Utility Companies: Many utility companies offer rebates or other incentives to encourage businesses to install EV chargers. Check with your local utility provider for details on their programs.
Additional Resources
- National Association of Convenience Stores (NACS): This industry association may have resources or information on government incentives for EV charger installation in convenience stores https://www.convenience.org/.
- Electric Vehicle Charging Association (EVCA): This industry association may also have resources or information on government incentives for EV chargers https://goevca.org/.
CONTACT EMR FINANCE TODAY TO DISCUSS EV CHARGER FINANCING!