Setting up an EV Charging Station in India
Public Charging Stations are a topic of chatter in the current scenario with the booming segment of EVs. Many people are interested in investing in the business and reap benefits from it. Contributing to the EV infrastructure not only makes you a socially responsible entrepreneur but also makes you leap towards a profitable and rewarding business opportunity. The Government of India aims to have a 100% EV adoption by the end of this decade, and EV has seen greater traction in 2W and 3W segment, mainly electric pick up trucks, auto-rickshaws, scooters etc. The govt. supports the initiative of setting a charging station and has made it clear that any individual is free to set up a charging station throughout the country without the need of any license, provided it meets the standards devised by the Power Ministry.
Minimum Infrastructure Requirements
The Govt. of India listed the below necessary requirements for a public charging station.
- An exclusive transformer with all the essential sub-station equipment and safety appliance.
- For metering or line termination, there should be 33/l l kV cables with equipment.
- Appropriate civil work.
- Adequate space for charging, entry and exit of vehicles without any obstruction.
- The Public Charging Station should have one or more electric kiosks or boards with charger models' installation facilities.
Types of Charging Stations
Among these chargers, the Bharat EV Charger AC001 and DC001 are slow chargers with DC output below 120V. These chargers are compliant with the current EV battery specifications but are expected to direct towards fast chargers. A typical electric car with a 60kWh battery takes around 8hrs to charge a completely depleted battery with a 7kW charging point.
An EV charging station can cost anywhere from 1 Lakh to 30-40 Lakhs depending upon your chargers and budget choice. Considering a 240V supply for the EV station, the following are the cost estimates of chargers
Although revenue matters are more related to practical situations, an approximation for the next five years can be derived. We are assuming an investment of 40 Lakhs, including all the listed chargers, which gives us an approximate power of 3000 kWh per day for consumption. Assuming that the chargers are operational for 20h/day and function 30 days a month.
Considering utilization percentage of 15% for the first year, 30% for second, 45% for third, 60% for fourth and 80% for the fifth year and an approximate profit margin of Rs 3.5 for the first year, Rs. 3 for the second and third year, Rs. 2.5 for the fourth and fifth year on electricity tariffs, the following estimation is achieved.
EVs are the growing segment of India that will gain more and more popularity with time. With the Government's plan of adding 2600 EV charging stations in 62 cities under the FAME II scheme, there is a massive demand for a Public Charging Station. An EV Charging space is a growing necessity of consumers and caters towards a profitable venture despite the significant investment.
If you are thinking of starting an EV charging space but with a lower budget expectation, we can fulfil your needs. Reach out to Kazam EV at https://www.kazam.in/, and we can help you with an affordable AC charger that can be used to charge all vehicles and set up your own charging space.