What will happen to fuel stations, and how will they adapt in the next decade as electric vehicles become more popular? Fuelcards.com give you the best-educated guess as to what the future will hold.
How will fuel stations transition?
The transition to electric vehicles represents a unique opportunity for fuel stations. Of course, electric cars will still require some form of energy. However, people have proven to be adept at modifying our business model to meet demand, whether for fuel or other products like convenience retail.
According to estimates, half of the people who visit fuel stations don’t come for fuel; instead, they come for convenience shopping, a car wash, tyre inflation, and various other services, so it’s not just about fuel. So, what is more significant to the fuel station? Alternative fuel or the retail side?
According to estimates, between 50 and 60 per cent of individuals in the country do not have off-street parking, making charging a vehicle outside their home problematic. As a result, the fuel station may potentially help those individuals, allowing them to shop while receiving an ultra-fast charge.
Will petrol and diesel pumps be a thing of the past?
In terms of new car sales, we’ve observed a rise in the number of electric vehicles sold. However, the most common car on the road is a petrol vehicle, and there will still be petrol and diesel cars on the roads in 2030. You just won’t be able to buy a new one. You will, however, be able to purchase a hybrid. So, there is still a long way to go in terms of demand for petrol and diesel. Therefore, it is doubtful that all fuel stations will be converted into pure electric charging stations anytime soon.
Many sites are concerned about whether they will bring enough electricity into the area to support ultra-rapid charging. A lot of it depends on the site’s closeness to the local substation and the electricity infrastructure in place.
This point could raise the cost of bringing the service to the location, affecting the business model for installing ultra-rapid charging stations. The process can cost tens of thousands of pounds, and you’ll have to decide whether it’s worth it for a financial return that isn’t yet predictable or clear.
If you spend a lot of money on chargers and the technology changes, or the batteries last so long that you only need to charge them at home most of the time, your initial investment could be a waste.
Fuel stations will not go away because they are required – perhaps more than ever – as technology evolves for all types of cars, uses, and customers. For many years to come, they will be assisting in developing alternative fuels, whether electric, hydrogen, or synthetic, as well as catering to the many petrol and diesel cars that will continue to be on the road.
Now that you have started to think about following a more efficient approach to your fleet and the future of electric vehicles and fuel stations, why not get in touch with us today if you have any queries.
