In today’s rapidly changing times, people are showing great interest in purchasing Electric Vehicles (EVs). Many new EV models are being launched in the market, which are proving to be very popular among the customers. Be it scooters or commercial vehicles, manufacturers have introduced every type of electric vehicle in the market. Along with the increasing trend of EVs, the business of installing EV charging stations is also growing rapidly. If you have a vacant piece of land and want to earn good income from it, then this information can be very useful for you. Today we will tell you what is required to start an EV charging station and how much money can be earned from it.
What are the things required for an EV charging station?
If you are thinking about opening an EV charging station, it is important to have some important things in place. Without these things you will not be able to open the charging station. According to media reports, to set up an EV charging station, it is necessary to have at least 50 to 100 square yards of empty land and 24-hour power supply. Moreover, in terms of paperwork, it is mandatory for the EV charging station to obtain ‘No Objection Certificates’ (NOCs) from the Forest Department, Fire Department and Municipal Corporation.
Space for parking and other facilities
To open an EV charging station, it is very important to provide necessary facilities like parking space, drinking water, toilets and resting places. Also, it is very important to strictly follow the safety standards at the charging station. In particular—given the potential risk of fire—it is considered essential to install fire safety measures (such as fire extinguishers, alarms and emergency protection equipment).
Where can you apply?
There are many companies across the country that provide charging station services. People can invest in these companies and take franchise and then open their own charging station. Additionally, setting up a charging station typically requires a capital investment of ₹10 to ₹15 lakh. For your information, let us tell you that the cost of installing a 30-kilowatt “single-gun” charging unit also falls in the same range of ₹ 10 to ₹ 15 lakh. Whereas, a double-gun charger can cost around ₹18 to ₹20 lakh. Apart from this, you can also apply at the government level through the National Highways and Transport Department.
How much can you earn?
Talking about the cost of setting up an EV charging station, you may have to invest around ₹15 to ₹20 lakh. This expense depends on the capacity of the charging machine, charging speed and available features. As far as earnings are concerned, it completely depends on the number of vehicles charging at the station and the prevailing charging rates. The more vehicles charged daily, the more income you will earn from your EV station.
