Monetization of EV Charging Stations Helps to Promote Infrastructure Set Up Rapidly

By Shubhendra Anand , 21 January, 2025

The world is shifting towards electrification in the automotive industry. Therefore, the demand for electric charging stations is multiplying in 2024. Different nations are setting ambitious goals to adopt electrification in the transportation sector. Hence, increasing the setup of electric charging points is extremely necessary. New studies on monetization with electric vehicles (EVs) show charging infrastructure can provide platforms to earn money. Therefore, respondents in several countries may consider it a meaningful way to make money.

There are several reasons for the adoption of electric vehicles. A prominent factor is a clean energy transition to reduce carbon emissions and allow net zero transitions by 2050. Electric cars can decrease the rate of carbon emissions in the environment if chosen as an alternative to conventional vehicles. Further, growing consumer awareness and increasing fuel prices indicate electric vehicle adoption. Developing countries like India record an increase in sales of electric cars by 49 percent in 2023. Therefore, respondents hope electric vehicle sales will increase exponentially by 2030. Lack of infrastructure and slow charging of electric vehicles are the main roadblocks for consumers not to opt for EVs. However, the trend of setting up electric charging infrastructure hopes to solve this issue positively in 2024. Globally, countries are supporting initiatives on electric vehicles to boost their energy transition rate. Hence, experts believe that substantial growth in the charging infrastructures can also provide finance to small businesses.

There are various ways to boost the charging stations, such as subscription services, tiered pricing, separate rules for commercial vehicles, and others. Determining a certain charging fee for a particular EV model can help in the competitive landscape. Subscription services include certain benefits for loyal and regular customers. This subscription service can be annual or monthly; consumers can be charged a one-time fee. Later on, it is cost-effective for regular consumers due to less charging fees. Thus, it provides beneficial credits to EV buyers. Additionally, tiered pricing models of electric vehicle charging stations can offer users lower prices during the day's off-peak hours. Equally, it is advantageous for the providers as it reduces total costs and load on the EV's infrastructure during peak hours.

Furthermore, the deployment of several charging stations demands data management. Advanced data management can help to identify potential faults and their solutions to increase efficiency. Therefore, monetization in electric vehicles can help improve future charging infrastructure.

The graph shows Europe’s growing demand for EV charging stations to increase by the next ten years: