I’ve wondered how these charging stations could be profitable. I assume the costs to build, operate and maintain the charging stations would not be much but how much could one possibly make in margin from the cost of electricity? When you figure the cost of the land or if you lease the property, the monthly lease cost, how can it be sustainable especially when most will charge at home. Now if you put in a lounge that would help as I’ve heard gas stations make more from the mini marts they have so maybe that is what make them more sustainable, I don’t know.

 

all about volume really. if you get electricity at one price and sell it at a significant markup, it could be good if the volume is decent. but if a charging station is rarely used it's got to be a loser financially.

 

The pricing on EA chargers is noticeably higher than a Supercharger so there is definitely margin built in. Over time, these stations will start charging more as demand increases so there will eventually be a strong business case. Add to the fact that they will have convenience stores where people have more time to shop will add to the value.

I don't think DC fast charging will ever reach gas price levels but I do think it won't be 3x cheaper than gas like currently. Of course the real economic benefit is charging at home where pricing is dirt cheap.

 

There is probably some Federal/state funding, or at least tax incentives. Adding solar panels will definitely get you federal and state credits, no matter how much they generate. Electrify America does charge more than other charging facilities like EVgo. For guests they charge .41 cents per kWh, and if you are a member at $4 a month they charge .30 cents per kWh. I'm guessing they pay wholesale pricing, which would be around .17 cents per kWh. The solar panels are probably more for powering their "infrastructure", like lights, charger processors and screens etc

But hey, it's free for me for now!

 

I get that but I’m trying to understand how there would be substantial volume if most people charge at home. If everyone had gas pumps at home there wouldn’t be much volume at the stations.

 

They still get a lot of traffic as car companies like Audi, VW, Polestar. Hyundai etc give free charging, which is probably paid for as part of the purchase price. Federal and state tax credits are probably part of the equation

 

Tax credits and subsidies are just shifting money and guess where that comes from, taxpayers. Why would anyone pay more at a charging station when it’s much cheaper at home? How can these charging stations sustain any profitability long term?

 

I'm just guessing, but I suspect only people that are in a pinch actually pay .41 cents a kWh to charge at a fast charger. There is also a $4 a month membership that will drop the price down to .30 cents. I personally wouldn't use EA if I had to pay unless I was in a pinch, and it would only fill up enough to get home. Now you're getting me curious. I'll do some research

 

People pay the high price on road trips. Still cheaper than gas. Road trips in EVs are extremely common in Cali. I see them all the time traveling to Vegas and Northern Cal.

 

Ok, so here is some info. EA was setup by the VW group in 2016 in a settlement with the US and I'm assuming the EU to offset carbon emissions due to the diesel emissions scandal they got caught in (infamous diesel gate). They also have been raising money from private investors. Last year they raised about a billion dollars. So there you go ☺️

Plus what @EZZ said

 

Bank of America doubles down on Electrify America EV chargers at its branch locations

Scooter Doll

- May. 24th 2022 12:41 pm PT



Building off a relationship that began years ago, Bank of America and Electrify America have announced that the former will double its number of financial centers equipped with EV charging stations by the end of 2023.



Electrify America (EA) currently operates one of the largest DC fast charging networks in the United States, consisting of roughly 800 charging stations, housing about 3,500 individual EV chargers that offer speeds between 150 and 350 kW.

With that said, EA has shared plans to expand its charging network in North America by 2026, growing to roughly 10,000 chargers across 1,800 different stations.

Bank of America is, well, the name sort of says it all, doesn’t it? In reality and despite its name, BofA is a multinational investment bank with over 4,600 financial centers in operation. In late 2019, Bank of America announced it would be implementing EV chargers from Electrify America at its retail locations.

This marked Electrify America’s first collaboration with a financial institution. Since then, we’ve seen similar agreements between dual competitors EVgo and Chase Bank. However, Electrify America already has a larger charging footprint at Bank of America locations and now looks to expand it.

Bank of America to double Electrify America chargers by 2023

Electrify America shared Bank of America’s plans for EV charging expansion in a press release today, complete with quotes from both companies. Senior Director of Operations at Electrify America Anthony Lambkin said:
Electrify America is expediting the electric future by providing ultra-fast charging to customers in convenient locations. Collaborating with companies such as Bank of America – who share our goals for a more sustainable future – helps to accelerate the transition to electric transportation and meet customers’ needs.
Currently, Electrify America operates 192 EV chargers across 51 Bank of America financial centers in the US, including the following states: California, Florida, Georgia, Illinois, Maryland, Massachusetts, New Jersey, Oregon, Virginia, and Washington.

Bank of America looks to nearly double the amount of chargers it had at the beginning of 2022 (172 chargers across 46 locations). This planned expansion will reach 350 EV chargers across 90 locations by the end of 2023.

This will also include EA charging infrastructure at additional BofA locations in new states such as Colorado, Connecticut, Indiana, North Carolina, New York, Oklahoma, and Texas. Aron Levine, president of preferred banking at Bank of America said:
At Bank of America, our commitment to a more sustainable future is woven into our culture and the many ways we serve our clients and communities. Through our collaboration with Electrify America, we’re making life easier for the communities we serve and are helping lead toward a more sustainable future.

https://electrek.co/2022/05/24/bank-...nch-locations/

 

i've read somewhere (i think car and driver) that most EA stations are either in poor nick and/or at subpar locations. being at BofA locations would be a step in the right direction.

 

Actually in the Bay Area they are in good locations. When I was in SoCal last week, the closest EA charging station to my brothers house in EastVale (Riverside County) was in Corona....not a very EV friendly area so they seemed out of place and more neglected. It was in the Walmart parking lot. Heading towards SoCal, they were pretty strategically placed, the two I used were in Harris Ranch and Bakersfield near the Grapevine

 

I wouldn't call these "poor/subpar locations"


EA_OC