Public charging stations don't just drive EV adoption; they are also increasing consumer spending at nearby businessesa new MIT study found.
The study is based on data from more than 4,000 charging stations in California and 140,000 businesses, using anonymous credit and debit card transactions to track changes in spending. The researchers used data from 2019 to June 2023, but skipped the year 2020 to reduce any distortion of the results due to the coronavirus pandemic.
2023 Nissan Ariya at EVgo charging station
Using this data set, researchers found that opening a charging station in California increases annual spending on nearby businesses, on average, about $1,500 in 2019 and about $400 between January 2021 and June 2023.
To determine if the charging stations actually caused these cost increases, the researchers compared data from businesses within 1,640 meters of the charging station before and after installation. The data was analyzed from similar businesses that were not near charging stations during the same period.
Tesla is charging
In addition to pushing EV drivers to spend more money at nearby businesses, the charging stations themselves he can make money. By 2022, a BP official said, under certain conditions, fast-charging stations could be like beneficial as fuel pumps. An AutoPacific study published earlier this year also found that EV drivers are looking for gas station amenities at charging stations—another way to get drivers to stop and make a purchase. local businesses.
This helps to emphasize the power economic consequences of the Dual Infrastructure Act and the National Electric Vehicle Infrastructure (NEVI) program supported it. That plan aims to implement a national network of 500,000 EV chargers and, while that rollout is happening slowly due to the combination of local laws and utilities, as well as coordinated federal proposals, these results provide a picture of economic growth that may help provide it.