Despite the numerous benefits of electric vehicles (EVs), one significant drawback remains the charging process. While refueling a gasoline-powered vehicle takes just a few minutes, the time required to charge an EV depends on the type of charger used. A direct current (DC) fast charger can recharge a vehicle in less than ten minutes, but other public EV chargers, found in parking lots, can take several hours.
This extended charging time can deter potential EV owners, particularly as frequent stops during long trips can consume valuable travel time. However, a recent study has uncovered unexpected advantages to installing public EV chargers.
An image included with the article shows a driver recharging their Tesla at a Tesla Supercharger station in Pasadena, California, illustrating the integration of such stations into everyday settings.
A new study from MIT reveals that having EV chargers near businesses can be beneficial. Researchers analyzed the connection between local businesses and EV chargers by looking at spending patterns at businesses within 500 meters (approximately 0.3 miles) of EV charging locations in California. They compared these to similar businesses not located near a charging station. The findings indicated that the presence of nearby charging stations increased consumer spending by nearly $23,000 in 2019 and approximately $3,400 per year from 2021 to mid-2023.
Using data from 2019 through June 2023, while excluding 2020 to minimize the pandemic’s impact, the study’s lead author, Yunhan Zheng, mentioned that the decline in spending from 2019 to the 2021-2023 period could be due to saturation of EV chargers, which led to lower utilization, as well as a general decrease in business activity post-pandemic.
Furthermore, certain types of businesses benefited more from being near EV charging stations. Coffee shops, restaurants, and convenience stores experienced the most significant revenue increases. The presence of EV chargers also contributed to shaping local economies and revitalizing particular areas, especially underserved, disadvantaged, and low-income regions.
Co-author Wang highlighted that the positive impacts of EV charging stations on businesses are not limited to affluent neighborhoods. He emphasized the importance for policymakers to establish EV charging stations in marginalized areas to promote a cleaner environment and enhance economic vitality.
Additional data from AutoPacific’s EV Consumer Insights Study indicated that most American EV owners believe public chargers should emulate the experience of traditional gas stations, including features such as good lighting, coverage similar to gas stations, clear pricing signage, and basic vehicle care services like windshield cleaners, air pumps, and vacuums, along with Wi-Fi access.
Zheng believes that these insights can guide developers on what to surround their charging stations. He suggested that the integrated gas station and convenience store model could be adapted for EV charging stations. Traditionally, many gas stations have partnered with retail chains, enabling them to offer both fuel and diversified services. EV charging providers could consider adopting a similar strategy to capitalize on the positive impacts of EV charging stations.