How much does a DC fast charger cost? Many EV car owners often ask this question. DC fast chargers are relatively new in the electric vehicle manufacturing industry. A factor that affects the pricing of a DC fast charger is brand.
Three top brands exist on the market, including Tesla, CCS, and CHAdeMO. Other factors include the DC charger’s power output, initial installation cost, proximity to the grid, government incentives, operation expenditures, etc.
Whether you want to elect a DC charging station or become a fleet operator, you require this knowledge. This article breaks down these factors to ease your understanding.
Defining a DC Fast Charger
A DC fast charging system or a level 3 charger is an advanced charging system that delivers direct current to an EV’s battery system. Therefore, the DC fast charger does not need to use the on-board converter to recharge an EV. It increases the charging speed, allowing you to experience little to no downtime.
DC fast chargers work more rapidly than level 1 and 2 AC chargers. These level 3 chargers have varying charging times, as their outputs differ. Their power output ranges from 50kW to 350kW. Hence, the fastest one offering 350kW can charge your car in about fifteen to thirty minutes.
How much does a DC fast charger cost? The output level significantly affects the price of a DC fast charger. Many DC charger types exist, including CHAdeMO, Combined Charging System, and Tesla. CHAdeMo is Japanese, CCS is European, and Tesla is American.
How Much Does a DC Fast Charger Cost?
When deciding on the DC fast charger to invest in, consider specific factors. Certain factors determine the answer to this question: how much does a DC fast charger cost? Here are some of them:
1. Charging Equipment Pricing
No DC fast charger will cost the same. The cost of EV chargers can be higher as you choose a higher-end model. The cheapest is the lower-range model, which produces around 50 Kilowatts of power. Its cost in different markets globally will vary.
However, the estimated range is ten thousand to fifteen thousand dollars. Mid-range fast chargers are more expensive because their output is larger. Delivering 100 to 150 kilowatts, mid-range models cost between thirty thousand and fifty thousand dollars.
High-range DC fast chargers are the most expensive. These premium charging units offer high-quality cooling components that prevent overheating. They can produce up to 350 kilowatts of power. That is why their cost is more than one hundred thousand dollars. However, they can charge electric vehicles more swiftly than any other charger type.
2. Initial Installation Price
How much does a DC fast charger cost? How much does a DC fast charger cost to install? The first installation cost affects the overall price. If you break it down, it will include these:
- Electrical Wiring – Depending on your existing electrical infrastructure, you can spend fifty thousand to two hundred and fifty thousand dollars to upgrade it. The necessary upgrades may include transformer installation, replacement of panels, and adding new power lines. Since these are complex projects, you will most likely hire a professional to work with. They will then demand some fees.
- Local Regulatory Fees – You need permission to elect crucial equipment like DC fast chargers. Take the time to find out the exact charges you should pay. The estimated regulatory fees in the United States are five thousand to fifty thousand dollars. The actual regulatory fees will vary between states.
- Preparing Installation Site – The installation work entails many activities, including digging trenches, paving, and others that may be specific to this site. Therefore, the DC charger installation price is twenty thousand to fifty thousand dollars.
3. Cost of Operation
How much do DC fast chargers cost? Apart from the equipment and initial installation costs, you must account for operation EV charging station costs. Electricity will be your main expense when running the DC fast charger business. Like public charging stations, you must charge a fee that will still leave you profits.
The rate of a DC fast charger per kilowatt is approximately $0.35 to $0.45. It can sometimes be higher than this. Most likely, the electrical charges for private companies are higher or tend to increase during off-peak hours.
Another operation cost is annual maintenance. They range from five thousand to ten thousand dollars per fast charger. Calculate your total maintenance cost based on the chargers you plan to install.
5. Output Size and Speed
How much does a DC fast charger cost based on power output and operation speed? It is impossible to pick a standard price because of several brands. Nevertheless, any higher output DC fast charger delivering 150+ kilowatts will likely be more expensive.
This is because they boast advanced technology features and can meet most infrastructural needs. Lastly, reflect on the output range and DC charger’s speed before installing it.
5. Proximity to a Grid System
Installing electrical grids in some urban areas is difficult because of limited land size. So, how much does a DC fast charger cost in these areas? Due to limited grid capacity, the upgrading cost to these modern chargers will be high.
In rural areas, the land capacity and cost allows the expansion of the grid. However, the installation expenditures can rise because of limited access to installation equipment.
6. Government Subsidies and Product Features
Many governments across the world support community projects with subsidies and grants. How much does a DC fast Charger cost in the presence of government subsidies? These subsidies and grants tend to lower charger installation costs, making them more affordable.
Some brands have more advanced DC fast chargers with reliable features. A charger with energy storage, a payment system, and remote monitoring is more expensive. If you decide to buy one of these, remember you will spend more.
Why Get DC Fast Chargers?
How much does a DC fast charger cost? What is the fast charger vs regular charger pricing? You should know the estimated costs of everything you will require. Once you finish installing these chargers, they should benefit you. Although the overall cost of a DC fast charger is high, its long-term advantages outweigh these expenses. Here are the most popular:
- High Profitability – DC fast chargers are what EV motorists are after because of their high efficiency. The increased demand translates to more business for anyone with a charging station. Research shows that the 150kW DC fast charger can recharge sixty electric vehicles daily. On the other hand, a Level 2 AC charger can only recharge two to three autos daily. It shows that a DC fast charger is more profitable.
- Enhanced User Experience – How much does a DC fast charger cost, and can you improve user satisfaction? If your DC fast charging unit functions flawlessly, customers will be happy. They will come back with their relatives and friends, increasing your ROI.
- Sustainability – DC fast chargers are more environmentally friendly than other options. That makes them more sustainable and attractive to customers. Sustainable companies tend to have a more appealing brand image.
- Low downtime – A DC fast charger works fast and conveniently. It is not as slow as the AC charging station that delivers the current to the onboard charger in the car for conversion. Instead, a DC fast charger is a sure bet when you want to cover a long distance immediately. This charger can refill your battery charge in about fifteen to thirty minutes, allowing you to proceed with your journey as soon as possible.
How to Reduce the DC Fast Charger Cost
How much does a DC fast charger cost and can you lower it? It is possible to spend less money when starting a DC fast charging station. The first remedy is government subsidies and grants. This financial support comes in different forms, including federal tax credits.
These can cover up to thirty percent of overall DC fast charger installation costs. It can also include specific rebates in your state or country. Some governments provide grants while some utility companies have programs that include discounted rates.
How much does a DC fast charger cost? To lower this cost you can partner with other charging networks that can elect and maintain charging stations for free. These collaborations can significantly lower your installation rates and profitability. With more profitability, you will have enough to keep and share with your partners.
Lastly, you can try bundling installations by electing many charging stations concurrently. While bundled installations are harder to manage, they can be beneficial. First, you can afford to charge less per kilowatt if you can control upgrading expenditures.
Conclusion
How much does a DC fast charger cost? One has to consider different factors before installing a DC fast charger in their parking lot. The most crucial one is the equipment cost. The equipment cost can be high or low depending on the brand you intend to choose. Another consideration is the installation cost.
The initial installation cost includes many things, including site preparation, maintenance cost, access to government subsidies, rebates, and grants, local regulation fees, closeness to a national grid system, etc. A DC fast charger can be profitable if you can control the installation and running costs professionally, including forming partnerships and bundling installations.