Charge up your parking business with EV charging: unlock multiple new revenue streams

In today’s digital era, successful businesses thrive by embracing innovation. This also applies to the parking industry: if you’re looking to elevate your revenue game, you need to adapt to emerging trends. In this article, we’ll explore the integration of EV charging points as a strategic avenue for parking business owners. You will discover how to meet the rising demand for electric vehicle infrastructure and open up exciting new revenue streams for your parking business.

The surge of electric vehicles: an electrifying business prospect

As the automotive landscape undergoes a transformative shift towards sustainable practices, the surge in electric vehicle (EV) adoption presents a lucrative business opportunity for parking space owners. With the increasing popularity of EVs, the demand for accessible and convenient charging infrastructure is on the rise. By 2025, there will be approximately 34 million electric cars on the road globally, about 13 million of which in Europe. And the market is expected to keep growing exponentially. Charging a car, therefore, is poised to become as commonplace as refuelling or parking. But at this point in time, finding the right spot to charge your vehicle when you’re on the road in Europe or the UK still poses a challenge. Due to the various payment apps, cards or subscriptions that are often required now, EV drivers may need to do some serious planning of when and where to charge.

Fortunately, both progressive European and British legislation are paving the way for broader acceptance of open payment systems such as regular credit or debit cards and mobile payment apps like Google or Apple Pay. This legislative push ensures a seamless and widespread adoption of open payment methods, making electric driving in Europe not only environmentally friendly but also more accessible and convenient. As a parking space owner, you can stand at the forefront of this evolving market and turn EV charging into a flourishing business venture.

Beyond parking fees, into EV charging profits

The integration of EV charging points in your parking facility provides a dual benefit: catering to the expanding electric vehicle market and diversifying your income streams. It also helps you differentiate from your competitors, since offering EV charging services not only attracts new environmentally conscious customers but also positions your business as forward-thinking and adaptable to emerging trends. And when you’re able to accept public payment methods for these charging services, such as bank cards, you can easily provide this service as an add-on to any EV driver who’s parking at your facility.

A promising shift is underway as major energy suppliers and charge point operators transition to embrace these public payment options alongside existing closed systems. This transition is particularly critical in public locations like supermarket parking spots, where accessibility for private drivers is paramount. By facilitating a broader acceptance of public means of payment, parking space owners can seamlessly cater to both private and business drivers, tapping into the growing demand for EV charging services and solidifying their position as innovative contributors to the evolving mobility landscape.

How to integrate EV charging in your parking space and maximise your revenue

As a forward-thinking parking space owner, incorporating EV charging points not only aligns with sustainability trends but also opens the door to a myriad of revenue-generating opportunities–even beyond charging fees. Below, we describe six ways in which you can strategically benefit from EV charging services within your facility.

1. Charging fees for EV charging services

Implement a pay-per-use model to capitalise on the increasing demand for EV charging. Electric vehicle drivers can pay a fee for accessing and utilising the EV charging infrastructure within your parking space. This straightforward approach ensures that revenue is directly tied to the usage of the charging services, providing a transparent and fair system for both the parking space owner and the EV users.

2. Integration of open-loop payment

Enhance user convenience by enabling public payment methods, such as bank cards. Facilitating seamless payments for EV charging services ensures a user-friendly experience and widens accessibility. This integration not only caters to the diverse preferences of electric vehicle drivers but also positions your parking facility as progressive and accommodating. CCV’s Edge IM15, for instance, is a gamechanger in cashless payment for parking and EV charging.

3. Loyalty programmes

Introduce subscription plans or membership programmes to encourage loyalty among regular users. Also when providing an open-loop payment system, you can offer cost-effective, recurring payment options too, to secure a consistent income stream and create a sense of exclusivity for members. This model is particularly effective for catering to individuals who rely on your parking facility for frequent EV charging needs.