One can earn a huge amount of money by setting up an EV charging station on an empty plot of 50 to 100 square yards.
Amid the rising prices of gasoline and fuel, the electric vehicles market has been on a steady rise. With low operational costs and growing consumer interest, investing in an EV charging station presents a lucrative business opportunity. By capitalising on the EV boom, entrepreneurs can tap into a profitable market, offering convenient charging solutions and reaping substantial financial rewards.
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Setting Up The Business
To start an Electric Vehicle Charging Station, permissions are required from various departments such as the Forest Department, the Municipal Corporation, and the Fire Department. It is crucial to establish a well-defined pathway for entry and exit, along with organised parking facilities for vehicles. The charging station should also provide essential amenities like restrooms, clean drinking water, air conditioning, and fire extinguishers. Proper maintenance of these facilities is essential to ensure a seamless and safe charging experience for EV owners.
Setup Requirement
To set up an electric vehicle charging station, an empty plot of land measuring 50 to 100 square yards is required, ideally situated alongside a roadside. The space can either be owned by the individual or obtained on a 10-year lease. It is crucial to emphasize that the charging station must prioritize environmental sustainability, ensuring a pollution-free experience for electric vehicle drivers.
Cost
To establish an Electric Vehicle Charging Station, prospective buyers would need to invest approximately Rs 40 lakh. However, the cost can vary depending on the capacity of the charging station, with lower capacity options offering a more cost-effective setup. The mentioned investment covers the entire setup process, including land acquisition and the installation of charging points.
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Earnings
Profit varies according to charging station capacity; for example, if a charging station with a capacity of 3000 KW is installed, a buyer can earn approximately Rs 2.5 per KW. This means in a day, Rs 7,500 can be made, which means 2.25 lakh can be earned in a month. After removing all the expenses, one can easily earn between 1.5 lakh and 1.75 lakh. On the other hand, if the charging station is of high capacity, the earnings can reach up to Rs 10 lakh per month.
