October 22, 2024
Microsoft Start recently published an article featuring Gordon Burtch, Allen and Kelli Professor in Information Systems, discussing the increased use of public EV chargers.
Racetrac, a chain of convenience stores, is considering the installation of electric vehicle (EV) chargers to improve its business model. The initiative, led by Rushi Patel, began in 2021 and involves assessing factors such as EV adoption rates and construction expenses. Research shows that businesses located near EV chargers can see a boost in foot traffic and sales, especially when the charging time matches the duration of shopping.
“The places that tend to get the biggest bump, is the place that aligns with how long it takes you to charge your car. Sit-down restaurants aren’t benefiting as much as fast-food restaurants,” Burtch adds.
Despite challenges like high installation costs and fluctuating utility pricing, federal incentives are aiding expansion efforts.
