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Charging Your Business: EV Opportunities for Electrical Contractors

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Ohm

February 4, 2024

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Charging Your Business: EV Opportunities for Electrical Contractors

With the rapid transition towards electric vehicles (EVs) in recent years, there is an escalating demand for an efficient charging infrastructure to support this burgeoning industry. This revolution has opened great opportunities for electrical contractors, who can mindfully leverage this shift and diversify their business by including EV charger installation and maintenance services. This article aims to delve into the opportunities in the EV charging industry for electrical contractors.

To begin with, the EV market is projected to grow exponentially in the coming years. A U.S. Department of Energy report suggests that there will be as many as 18.7 million electric vehicles on American roads by 2030. This growing trend undoubtedly means that a similar scale up in EV infrastructure, particularly charging stations, will be needed. This is where electrical contractors come into play, becoming an indispensable part of this green revolution.

To capitalize on this advancement, electrical contractors need to educate themselves and their groups in installing and maintaining EV charging stations. This not just involves electrical work, but also adherence to local compliance codes, and working knowledge of different charger types. Electrical contractors can enhance their skill sets on an ongoing basis to stay current with advancements in the EV technology landscape. State, local, or national organizations often have resources available to assist in this education such as detailed guides, online courses, and certification programs.

Moreover, for successful foray into the EV charging industry, contractors must familiarize themselves with two key market verticals: residential and commercial.

Residential EV Charging: With more people purchasing EVs for personal use, the demand for home charging solutions continues to rise. Homeowners prefer the convenience of charging their EVs overnight, much like charging a smartphone. There’re two types of EV home chargers: Level 1 and Level 2. Level 1 utilizes standard 120-volt outlets, not requiring any specialized installation. However, Level 2 chargers, which provide faster charging, need a dedicated 240-volt circuit and must be installed by a licensed electrician.

Commercial EV Charging: The robust growth in EVs has also spurred demand for commercial charging stations in public places and workplaces. These locations typically utilize Level 2 and DC Fast Charging (DCFC) stations, the latter delivering a full charge in approximately 30 minutes. Electrical contractors can seek opportunities in sectors like corporate office parks, retail centers, hospitality, universities, public transportation hubs, and local government facilities.

One of the biggest opportunities, however, lies in creating partnerships with utilities. Electrical contractors can navigate through complex electrical grid infrastructure and relay insightful information to utilities, eventually becoming valuable partners.

Furthermore, it’s important to understand that the EV charging industry is much regulated, with codes and standards to adhere to. Familiarize yourself with National Electrical Code (NEC) Article 625 that covers EV charging, to avoid any compliance issues.

Economic incentives and beneficial policies also prevail in numerous jurisdictions that encourage commuters and businesses to transition towards electric vehicles. These include rebates, tax credits, and grants for both EV purchases as well as EVSE (Electric Vehicle Supply Equipment) infrastructure. Contractors can capitalize on these incentives, guiding their customers through the application process.

Lastly, keep in mind that entering the EV charging market isn’t just about business growth. It is playing a crucial role in promoting sustainable and eco-friendly transportation, combating carbon emissions, and helping communities transition to a cleaner and greener future.

In conclusion, the burgeoning EV charging industry offers substantial opportunities for electrical contractors. Along with deepening their skillset and knowledge, contractors need to align their services with market trends, adopt a customer-centric approach, and keep up-to-date with changing regulations and emerging technologies. The road to success in the EV charging industry requires not only technical expertise but also a strategic vision to seize arising opportunities. Thus, the EV revolution not only charges vehicles, but can also charge up your business opportunities.