The journey of turnkey providers in the EV charging landscape is filled with unique challenges that can impact both operational efficiency and profitability. Innovative solutions, like Monta’s software, offer tools to tackle these challenges head-on—empowering turnkey providers to not only streamline operations but also unlock new revenue opportunities.
In this blog post, we’ll cover key themes that can make or break your success in the EV charging industry, including:
- Monetization strategies
- Financial reconciliation
- Data accessibility
- Energy management
- Competitive dynamics
- User experience
- Charger utilization
Tackling Financial Reconciliation Head-On
One of the primary challenges for turnkey EV charging providers is the difficulty in reconciling financial flows between themselves and site hosts.
Many companies are forced to manage multiple systems for tracking costs and processing payments, which can lead to inefficiencies and complicate cash flow management.
Simplifying financial reconciliation through integrated solutions can help streamline this process, allowing providers to track incoming and outgoing costs in real-time. In fact, research indicates that finance professionals find manual processes significantly hinder efficiency, underscoring the necessity for more streamlined financial management practices in the industry.
The Power of Data: Actionable Insights at Your Fingertips
For many providers, particularly those who help with the installation of chargers but hand over operations to site hosts, a significant challenge lies in accessing critical data about charger performance.
Without visibility into charger usage and operational metrics, troubleshooting issues becomes nearly impossible, which can lead to downed chargers, unhappy drivers, and missed revenue. lost revenue opportunities. Access to comprehensive data—such as OCPP logs and usage statistics—empowers providers to troubleshoot effectively and maintain strong relationships with site hosts.
At Monta, we seek to put as much information and power in the hands of our partners, with the understanding that the more a Monta partner can do themselves, the quicker problems can be resolved. Monta provides solutions that enhance data accessibility, helping operators optimize performance.
Managing Energy Costs: A Smart Approach
Managing energy costs presents another hurdle for turnkey EV charging providers. Upgrading grid infrastructure can be prohibitively expensive and time-consuming, leaving turnkey providers vulnerable to high demand charges that can erode profitability.
Implementing energy management systems can mitigate these challenges by distributing energy consumption intelligently across multiple chargers, thus minimizing the risk of incurring costly demand charges.
Charging operators might feel they need an on-site solution, but in many cases, Monta’s cloud-based load balancing solution will suffice. With features like first-come, first-served and equal share, our system can handle large and complex sites. For example, in Germany, we are managing a 3 MW site with 275 chargers.
According to the U.S. Energy Information Administration (EIA), demand charges can make up as much as 30% of a commercial electricity bill. This makes effective energy management strategies crucial for both existing operators and new entrants in the market.
Partnerships, Not Competition: A New Business Model
Conflicts of interest arise when turnkey providers compete against their own software vendors for charger sites, often leading to challenges in growth and innovation. No one should be competing with their SW provider for lucrative jobs. Nor should your SW provider be spending money to acquire hardware or run charging operations themselves.
A collaborative approach, where software vendors act as supportive partners rather than competitors and are focused solely on building great software, can enable providers to focus on their core services without the worry of conflicting interests.
Companies like Monta exemplify this partnership model, allowing turnkey providers to thrive without competing for charger sites.
Elevating User Experience: The Key to Satisfaction
A study by PwC found that 73% of consumers cite customer experience as a key factor in their purchasing decisions. And yet, user experience often takes a backseat in many platforms, resulting in poorly designed applications that frustrate both operators and drivers. The reason for these bad user experiences is that many providers built their systems first and then tacked on a subpar app.
At Monta, we took a different approach. From the very beginning, we started with the app—focused on user needs—because that’s what our foundation lies on. Our goal has always been the same as today: to create a great, user-friendly app for EV charging. But as we engaged with CPOs, solution providers, installers, and turnkey providers, it became clear that they needed a comprehensive management platform as well. So, we developed one reliable, easy-to-use solution that connects the entire ecosystem with our CPMS, Monta Hub.
However, we never lost sight of the driver—because at the end of the day, they’re the ones who are actually charging the car and adopting EV charging into their lifestyle. On top of that, ensuring a seamless user experience is essential for maintaining strong relationships with site hosts and fostering customer loyalty.
Elevating the user experience means ensuring that the entire process—finding a charging point, using it, and paying for it—is smooth and frictionless. Chargers must be available, easy to find, and affordable; because a reliable charging experience for drivers is proverbial money in the bank for turnkey providers.
Monta Charge exemplifies this approach, where the driver experience is always prioritized, securing higher utilization rates and increased satisfaction for both operators and consumers.
Breaking Down Barriers: Improving Charger Utilization
Fragmentation within charging networks can lead to low utilization rates, complicating providers' ability to share chargers effectively across platforms. Enhancing collaboration among various networks can improve charger utilization, allowing providers to maximize their assets and drive profitability.
According to the International Energy Agency (IEA), many EV charging stations currently operate at only 10-15% of their capacity, highlighting the urgent need for improved network integration to enhance utilization and operational efficiency.
Unlocking Revenue Streams: Monetizing Installed Chargers
Finally, many turnkey EV charging providers overlook recurring revenue opportunities associated with the chargers they install. Establishing a subscription model for ongoing services and maintenance can help providers capitalize on these opportunities.
Companies like Monta enable providers to set up subscriptions that create healthy margins and foster long-term customer relationships.
According to recent reports, the global electric vehicle (EV) charging market is projected to reach a staggering $300 billion by 2027. This rapid growth underscores the significant opportunity for EV charging providers to maximize their revenue through strategic partnerships and innovative solutions, such as subscription models for ongoing services and maintenance.
As the EV market expands, providers can capitalize on recurring revenue opportunities by optimizing their operations with platforms like Monta, enabling better scalability, increased efficiency, and long-term customer relationships.
Conclusion
The path forward for turnkey EV charging providers is fraught with challenges, yet there are numerous strategies to overcome these barriers.
By addressing issues related to financial reconciliation, data accessibility, energy management, competitive dynamics, user experience, network fragmentation, and monetization, providers can position themselves for success in a rapidly evolving landscape.
Embracing solutions from companies like Monta can enhance operational efficiency and unlock new revenue opportunities as the demand for electric vehicle charging infrastructure continues to grow.
If you’re a turnkey EV charging provider looking to optimize your operations and maximize profitability, consider exploring how strategic industry partnerships and innovative technology solutions like Monta’s can help advance your business.
