On our blog, we usually talk about the marketing and recruiting benefits of installing electric vehicle charging at your property. However, just because you’re investing in a long-term strategy or using a local tax rebate doesn’t mean that you have to lose money. With the right pricing, you can recoup your energy costs, retain a captive shopping audience, or ensure parking turnover. Here are six ways that you can customize your pricing policy at your EV charging stations.

Energy transferred

This is a great option if your only goal is to recoup your energy costs. Your drivers are charged by kilowatt-hour (kWh), or the amount of energy that is actually transferred to their vehicle. But note: this pricing option is restricted to utility companies in certain markets. If you’re interested in pricing by kWh, be sure to ask your SemaConnect representative if this is allowed in your state.

Duration

This is the hourly parking fee that’s charged from the time the car is plugged in to the time it’s unplugged – regardless of whether they were actually charging the entire time. You can choose to charge a straight fee (such as $1 per hour) or a variable rate that increases over time. Duration-based pricing is the most popular solution for properties in states that do not allow kWh pricing.

Time of day

It’s easy to get this confused with an hourly rate, but this is fee based on the actual time of the day when a vehicle is parked. Some properties choose this strategy so they can encourage drivers to charge during off-peak times when there’s less strain on the electrical grid.

Time of year/seasonal

Of all the pricing options on this list, this is the newest! Similar to the time of use fees, this pricing policy is based on when a car is parked at your property. You can vary your cost-to-charge based on the busy seasons on your property’s calendar. This is great for businesses like hotels and resorts where tourist seasons can increase demand for charging stations.

Grace period

This is the perfect option for a station owner who wants to offer free charging, but also worries about drivers parking their car for too long. You can offer your visitors free or nominal pricing for a “grace period,” then charge a higher price once the car has been parked for a certain amount of time.

Member pricing

One of the advantages of a smart station is that you can set member groups. Most often seen at workplaces and members-only associations, you can give your members free or reduced-price charging, and public visitors a more expensive charging rate.

So what’s the best pricing for my property?

Your perfect EV charging pricing policy can be customized to fit your property’s needs and goals. If you’re a mall, you might choose a low parking fee that encourages customers to spend more pocket money inside stores. If you’re a hotel near a beach, you might want to charge summer and winter hourly rates. We even see some service industry properties charge high duration fees in order to ensure that drivers keep their appointments speedy!

The ability to manage your charging fees is just one of the benefits of choosing a smart networked EV charging station. Click here to learn more about the SemaConnect Network.