We are living in a digital era where new-age innovations are altering societies and businesses alike. However, environmental concerns continue to persist as a stagnant challenge. Amidst the rising global warming, biodiversity loss, pollution and climate change, an increasing number of individuals are resorting to eco-friendly alternatives. A Bain and Company study states that 52% of Indian urban consumers anticipate increasing their expenditure on environment-friendly companies over the next three years, while at least 60% of Indian customers are willing to pay more for sustainable products.
To combat the environmental concerns an array of sustainable options have transpired. Amongst these electric scooters have emerged as one crucial alternative. By cutting greenhouse gas emissions and encouraging a sustainable transportation system, EV bikes are speeding up the transition to a greener future. Furthermore, the government’s introduction of several initiatives, such as the PLI scheme and FAME India, has increased the adoption of electric scooter in India. The Indian EV market is expected to be worth $5.61 billion in 2023 and is projected to increase at a compound annual growth rate of 46.38% to reach $37.70 billion by 2028, according to a report by Mordor Intelligence.
As the demand for electric bike tends to grow so does the need for smart charging stations. The Ministry of Power reports that there are currently 1640 active public EV chargers in India. However, as the population grows, so will the demand for EVs, leading to a simultaneous increase in the need for charging stations.
Unveiling the benefits of EV charging stations
Simplified setup: The setup of an EV charging station does not require extra space like that associated with a typical petrol station. A modern EV station costs less and can charge up to three EV bikes simultaneously. On top of this, electric scooter price in India is quite affordable and there are no additional labor costs needed for setting up or running their supporting stations. With a digitalized system, anyone and everyone can install it with ease. Having a station in the house and charging whenever it is convenient is quite flexible, especially for homeowners. In fact, even mall or hotel owners can easily set it up in the parking lots while charging a small fee from the visitors.
Cost-friendly alternative: Installing a smart charging station requires a minimum initial investment with a lifetime of benefits. In contrast, setting up a traditional petrol pump not only demands significant investment but also involves several formalities and regulations. Whereas, EV charging stations eliminate strenuous paperwork, enabling hassle-free installation. Further, the operating cost of an ICE-powered vehicle is greater than a battery bike, necessitating time-to-time expenditure. Operating costs for normal ICE-powered vehicles over a ten-year period are roughly three times greater than those of an electric bike, according to a NASSCOM study comparing ICE and EV two-wheelers. With a reduced number of moving parts in electric motors and other drivetrain components, EV bikes make a perfect cost-friendly sustainable alternative for environment-conscious consumers. Furthermore, for companies with vehicle fleets, these robust charging stations are no less than potent assets. They enable substantial reductions in fuel and maintenance expenses, improving corporate cost-efficiency.
Promoting an ecologically sound future: Electric two-wheelers and their supporting charging stations are indeed one important solution towards developing a viable transport system. The stations draw eco-friendly and sustainable energy for their power. As such, they become key players in nurturing a green environment. Amongst other energy sources, solar has played an important role. Solar-powered EV stations decrease reliance on fossil fuels, improving energy security. Additionally, they do not demand additional power from the grid. As a result, they turn out to be cheap and easy to install as well. Therefore, having these stations will dramatically reduce carbon traces linked to charging EVs.
The future of smart charging stations
Electric vehicles and their supporting charging infrastructure is expected to be in great demand as we transition to greener transport systems. KPMG’s estimate is that by 2030 there could be up to 102 million EVs in India and this may mean that about 2.9 million public chargers may have to be put in place. Furthermore, some efforts by the Indian government such as waiving off road tax for EVs or introducing policies like exemption from GST, provision for private charging for vehicles in home/workplace, are fostering large scale acceptance for electric two-wheelers in India. Moreover, with reasonable battery scooter price, individuals do not have to go beyond their finances to simply own a vehicle. Thus, if you are someone looking to purchase a two wheeler on a budget, you can surely buy electric scooter at an affordable price with long-term benefits.
With more and more people switching to EVs, the need for charging stations is destined to rise. Strategic collaboration between the government and the business sector will contribute to the creation of efficient and robust charging networks. This, in turn, will promote use of electric vehicles and set the ground for a green, sustainable future.
