Even with these business models, some projects may still not be profitable soon enough for investors. So the report recommends near-term public support, such as grants, low-interest loans, and vehicle purchase incentives. Grants help lower initial costs to speed return on investment, and low-interest loans provide access to investment capital. Incentives to buy EVs, like the wide array of policies outlined in a recent report on EV promotion in the 25 largest U.S. cities, can help expand the demand for charging stations.
Publicly available charging not only helps travelers with EVs get where they need to go; it also helps reduce emissions contributing to climate change that affects us all.
As with many new technologies, EV charging will need creative business models and public support to capture the environmental benefits of electric vehicles. With continued public support in the near term, new business models that capture indirect revenue can gradually make publicly available charging projects profitable for private businesses.