The EV opportunity for retail parks
The uptake of electric vehicles (EVs) is growing by the day. But our analysis has found that the majority of retail businesses don’t yet have enough charging facilities in place to capitalise on the financial opportunities presented by this growing EV market.
The average retail park has only four electric vehicle charge points with a total of eight connectors. We recommend that to meet the current demand from EV drivers, one in ten retail park parking spaces need to be equipped with Fast chargers with 7kwh or 22kwh outputs to take advantage of the average customer dwell time of up to two hours.
By 2030, forecasts by the National Grid Future Energy Scenarios suggest that EVs will account for one third of all road vehicles, emphasising the urgency for businesses to offer more charging for their customers now. Preparation is key as by 2030 the predicted rise in EV drivers will mean that our recommended ‘green ratio’ of one in ten chargers to parking spaces will increase to three in ten.
Adam Hall, Director of Energy Services at Drax, said:
“If retail businesses want to keep pace with their competitors, they should invest now in good EV charging facilities. It will help to attract new customers as well as better serving their existing ones.
“Customers are likely to spend more during their visit if drivers are there for longer, charging their vehicles. Combining this additional spend with any profits made for charging makes it easy to see the business benefits and return on investment.”
Learn more about the EV opportunity in the retail sector below.Learn more
For more information on installing EV charging and other electric vehicle services for businesses, get in touch.