The Buzz on Buying Versus Leasing an Electric Vehicle Charging Station

Are you considering purchasing or leasing an electric vehicle (EV) charging station for your business or home? While leasing an EV charging station may appear to be a cost-effective option, have you considered the long-term cost benefits of buying an EV charging station instead?

Summary:

Here, we’ll dive into what makes buying an EV charging station a smarter, more cost-efficient choice.

Why the Electric Vehicle Charging Station market is Buzzing

The EV market has been booming over the past decade, with more and more car buyers opting for electric cars due to their low cost of maintenance, improving range, and zero tailpipe emissions. The EV charging station infrastructure has been booming as well, with numerous private and public charging stations opening up in both urban and rural areas. According to a report from Frost & Sullivan, the global EV charging station market is expected to reach a valuation of $39.2 billion by 2030, growing at a CAGR of 31.2% between 2019 and 2030.

The Cost Benefits of Buying vs Leasing an EV Charging Station

While leasing an EV charging station may seem cost-effective in the short-term, there are long-term cost benefits to purchasing an EV charging station instead.

• Cost savings in the long run: When you purchase an EV charging station, it can be a significant investment upfront. However, in the long-term, purchasing an EV charging station can save you money by eliminating monthly leasing costs and allowing you to charge EVs for free or for a fee to offset electricity costs.
• Higher return on investment: When you purchase an EV charging station, you own it, which means you can use it to generate revenue for your business. Set a fee for using the station and collect payments. Not only will this generate extra revenue, but it can also create customer loyalty and drive sales.
• More control and flexibility: Leasing an EV charging station means that you are limited on how long you can use it and where it can be used. Purchasing an EV charging station means you have complete control over how and when it is used.
• Customization and brand visibility: When you purchase an EV charging station, you have the option to customize it to your brand’s look and feel. This can create an aesthetically pleasing and cohesive look across all your charging stations that enhance your brand's visibility and create a more welcoming atmosphere for EV drivers.
• Great resale value: EV charging stations are durable pieces of equipment that can last for many years, making them an attractive item to resell in the future. Selling a used EV charging station can yield a fair return on your original investment.

Key Takeaways

Purchasing an EV charging station is a long-term investment that offers more cost benefits compared to leasing. Here are some key takeaways to remember:

• The global EV charging station market is expected to reach $39.2 billion by 2030.
• Purchasing an EV charging station offers long-term cost savings and ultimately provides a higher return on investment.
• When you purchase an EV charging station, you have more control, customization options, and the opportunity for brand visibility.
• EV charging stations have excellent durability and resale value, making them attractive for resale in the future.

Now that you have the buzz on purchasing versus leasing an EV charging station, which option will you choose?