Electric Trucks are Coming to Work Fleets

Electric vehicles (EVs) are no longer just for passenger cars. New electric trucks and vans are perfect for light and medium-duty work. Therefore, many small and mid-size fleet managers are thinking about making the switch. Going electric can lower your fuel costs and maintenance needs.

However, moving to EVs takes planning. You must figure out where to charge them and what the true costs will be. This is especially true for businesses like plumbing, delivery, and field services. They rely on vehicles that run all day. We’ll look at the first two steps you must take to start your EV transition the smart way.

Plan Your Charging Strategy

The biggest change with EVs is “fueling.” You need to install charging equipment at your main location. In addition, you must decide which type of charger is best for your operation.

Most fleets use Level 2 charging. This requires a 240-volt connection, similar to a large appliance. It takes several hours but can refill a battery overnight. Conversely, DC Fast Charging (Level 3) is much faster. It costs more to install and needs more power. You should work with your local utility company right away. They can tell you about power upgrades and special rates. The U.S. Department of Energy offers great guides on charging infrastructure planning. Find resources on commercial charging station requirements here.

Calculate the True Return on Investment (ROI)

The purchase price of an electric truck is often higher than a gas or diesel model. Consequently, you must look beyond the sticker price to see the full financial picture. This is called calculating the Return on Investment (ROI).

You must factor in several savings. For instance, electricity costs much less than gasoline or diesel fuel. Furthermore, EVs require less maintenance. They have fewer moving parts, which means no more oil changes, spark plugs, or complex exhaust systems. Be sure to check for federal, state, and local tax credits or rebates for buying the vehicles and installing the charging stations. In short, calculate your lower operating costs over the life of the vehicle to see how quickly the EV pays for itself.

Consider Utility Rates and Off-Peak Charging

The time you charge your vehicles matters a lot. Electricity rates are not the same all day long. They are often cheaper late at night when demand is low.

Your local utility might offer special “Time-of-Use” rates for fleets. Therefore, you can save big money by setting your trucks to charge automatically after midnight. This simple change maximizes your cost savings. Similarly, if you are planning on installing on-site solar panels, you can further lock in low energy costs. Smart planning around energy rates is key to a positive ROI.

Also read: EV Charging for Small Fleets: Start Smart to Save Big