Gas station numbers have been decreasing at a sharp rate in the past three decades and the trend is expected to continue, with at least a quarter of service stations globally at risk of closure by 2035 without significant business model tweaks, according to consulting firm BCG.<\/p>\n
Gas stations making the switch to electric vehicle charging will be investing in Level 3 chargers, which are the most powerful and generally charge in 20 to 30 minutes, but for multiple units can incur investment costs between $500,000 to $1 million.<\/p>\n
Major oil companies are supporting franchise filling stations, including BP and Shell, and in the U.S. there are numerous federal, state and utility-based incentives for commercial businesses to purchase and install fast chargers.<\/p>\n
As electric vehicles proliferate, some gas stations are making expensive overhauls to add EV charging stations.\u00a0<\/p>\n
In most cases, they aren\u2019t scrapping traditional liquid fuel pumps. But select locations, including\u00a0an RS Automotive in Takoma Park, Md.<\/a>, and a Shell station in Fulham, England, have made a full switch.<\/p>\n
Locations like office complexes, hospitals and hotels typically offer a slower charging option, since people generally stay put for hours at a time. Gas stations, however, are investing in Level 3 chargers, which are more powerful and generally charge a car in 20 to 30 minutes.\u00a0<\/p>\n
While slower charging stations are often free to motorists, that\u2019s not generally true for fast charging stations, given ongoing operational expenses such as electricity and extra fees charged by utilities in commercial settings, said Seth Cutler, chief operating officer of EV Connect, whose software tools help companies build charging station networks.https:\/\/91f76342287c1799c0c4c7577aa64239.safeframe.googlesyndication.com\/safeframe\/1-0-40\/html\/container.html?n=0<\/p>\n
For large oil giants, adding EV chargers is both a defensive and offensive play.\u00a0<\/p>\n
Gas station numbers have been decreasing at a sharp rate in the past three decades and the trend is expected to continue in the coming years, according to\u00a0<\/strong>Shubhendra Anand, vice president of research and strategy at Market Research Future. In fact, at least a quarter of service stations globally are at risk of closure by 2035 without significant business model tweaks, according to consulting firm BCG.<\/p>\n
The Biden administration has a stated goal of\u00a0having 500,000 electric vehicle chargers nationally<\/a>\u00a0where EVs make up at least 50% of new car sales by 2030. By current administration estimates, there are more than three million EVs and more than 130,000 public chargers nationwide.<\/p>\n
The European oil majors are among the energy sector leaders in the global EV charging push.<\/p>\n
The post How gas station economics will change in the EV charging future (CNBC)<\/a> appeared first on London Reconnections<\/a>.<\/p>","protected":false},"excerpt":{"rendered":"