Top 3 Ways Hotels Can Recover EV Charging Station Costs
Hotels can recover EV charging costs when installing EV charging stations to their parking lots by taking advantage of several options. From bundling their fee with room rates to advertising in EV focused media, here are the three best ways to offset EV charging costs.
Charge a usage fee
For hotels looking to reduce the cost of EV charging stations, a great option is to charge guests a straight-forward usage fee.
Here are some strategies that hotels can use to easily add on a usage fee:
- Charge a flat fee: Consider charging a flat fee per charging session, regardless of the amount of energy consumed. This makes it easy for you, the hotelier, and the guest!
- Charge by the amount of energy consumed: Alternatively, you can charge guests based on the energy consumed during their charging session. This strategy can be more accurate and fair, as you're only charging guests for the amount of energy they use.
- Offer discounted rates: Consider offering discounted rates for hotel guests who use the EV charging stations. Then you can encourage guests to choose the hotel and its charging stations over other options.
- Bundle EV charging with room rates: Bundle the cost of EV charging into the room rate. It allows EV driving guests who use the charging stations to pay for the service as part of their overall stay.
- Implement a membership or loyalty program: Consider implementing a membership or loyalty program that incentivizes frequent EV driving guests with discounted rates or free charging sessions. This type of program encourages repeat business and loyalty from eco-conscious guests.
Apply for grants or incentives.
Hotels can reduce their costs for EV charging station installations by taking advantage of the various government and private grants or incentives readily available. Investigating these options is a great way to substantially minimize expenses associated with extra electricity expenses associated with EV charging.
Hotels can apply for government incentives to install EV charging stations by following these steps:
- Research available incentives: Start by researching the incentives available in your area. The incentives may vary by location, so it's essential to research the incentives available at the local, state, and federal levels. Check government websites, utility company websites, and industry associations to find out what incentives are available. Remember, the OK2Charge team is happy to help find an incentive that might work for your hotel.
- Determine eligibility: Determine if your hotel is eligible for the incentives by reviewing the requirements of each program. Incentives may have requirements based on the type of charging stations, the number of stations installed, and the hotel's location.
- Submit applications: Once you've identified the incentives you're eligible for, prepare and submit the required applications. Make sure to provide all the necessary documentation and meet all the deadlines. Many incentives have limited funds, so submitting applications as soon as possible is critical to increasing your chances of being approved.
- Install and verify charging stations: After you receive approval for the incentives, install the charging stations according to the program requirements. Some programs may require third-party verification that the charging stations have been installed and are functioning correctly. This verification process is necessary to ensure that you're using your incentive for its intended purpose.
- Claim incentives: Once the charging stations have been installed and verified, you can claim the incentives. This may require submitting additional documentation, such as receipts and proof of payment.
Applying for government incentives can be a complex process. We recommend that hotels work with experienced professionals, like our team, to help navigate the process and ensure that your hotel meets all requirements.
Market the amenity
Hotels can become more attractive to eco-conscious guests by providing electric vehicle charging stations. Not only will this attract guests who value an eco-friendly experience, but it also leads to higher occupancy rates and a greater return on investment.
Here are some strategies that hotels can use to market EV charging effectively:
- Highlight EV Charging on Your Website: It’s important to make sure that your website showcases your newly installed EV charging stations and their availability. When guests navigate to this page, they can learn about the charging process, the location of charging stations, and the type of charging connectors supported.
- Offer Charging as a Free Amenity: Consider offering EV charging as a complimentary amenity for your guests. This can help your hotel stand out from competitors and may be a deciding factor for eco-conscious travelers.
- Collaborate with EV Charging Networks: Partner with popular EV charging networks like Plugshare and Chargehub to offer your guests access to their charging stations. Remember, this will be a huge value add for your guests and can even help attract new customers.
- Advertise in EV-Focused Media: Consider advertising your hotel's EV charging facilities in publications and websites focusing on electric vehicles. Taking this step can raise awareness about your hotel and spotlight your commitment to sustainability.
Adding EV charging stations to a hotel's parking lot can be a wise investment because it can help attract environmentally conscious guests and generate revenue. By exploring the above options, hotels can find ways to offset the initial costs of installing and operating EV charging stations.