Electric vehicles (EVs) are unquestionably on the rise in the U.S., coupled with a growing number of major automakers who have announced that they will be phasing out combustion engine vehicles. But for drivers considering making the switch to EVs, inadequate charging options are often a dealbreaker. Despite substantially increasing U.S. EV charging installations since 2022, owners and operators of charging stations still face an enormous challenge: they’re not profitable.

The majority of EV charging stations today are underperforming financially and investors are losing faith in the industry, which jeopardizes future infrastructure investment. How can charging companies be expected to expand or improve charging infrastructure when the chargers they operate today are losing money?

Until now, Stable Auto’s focus has been on growing America’s EV charging infrastructure by providing real world insights into EV charging site locations. Today, Stable Auto is going beyond site selection to tackle another problem most EV charging companies face: setting the right prices at the right locations at the right times.

Why EV charger pricing optimization matters

Operating a successful EV charging station is not as simple as selecting a location, installing the equipment, and walking away. What many EV charging companies have found is that just because a charging station is built, doesn’t mean it will be utilized at a rate that is sustainable. The real challenge lies in setting the right price for each station, and ensuring that this price takes into account both supply and demand. This includes fluctuating price of electricity, competitive pricing nearby, traffic, and local price sensitivity.

With Stable Auto’s new Dynamic Pricing solution, EV charging companies are able to seamlessly connect Stable’s software with any EV charger and the algorithm automatically optimizes prices from day one. Customers see up-to-date prices updated in real-time based on algorithms trained on EV charger pricing and usage trends, and they can use price adjustments to encourage usage during low-demand, low-cost periods.

Why current approaches to pricing are not working

As it stands today, many major EV charging networks have been setting static prices at stations for entire states based solely on average energy costs and competitive prices. This approach leaves significant revenue on the table, leading to financial losses. What Stable Auto has found is that price adjustments must take into account time and location. A one-size-fits-all approach to pricing only leads to financial loss, since electricity costs are constantly fluctuating throughout the day, and real demand is based on so many dynamic factors.

Achieving optimal EV charging utilization that leads to profitability is dependent on analyzing dozens of dynamic factors.

How does Stable Dynamic Pricing work?

We developed our AI model by analyzing utilization trends from 37,000+ chargers across the country over the last four years to understand driver demand and price sensitivity. The model takes into account current charger performance, analyzes and predicts price elasticity of demand, and automatically updates prices to precisely balance appeal to drivers and per-charging-session profitability.

Stable Dynamic Pricing seeks to create a virtuous cycle where both charging companies and customers benefit.

To date, Stable’s customers using Dynamic Pricing across dozens of charging locations have seen a boost in revenue by up to 40% within 3 months. Operators can effectively manage and recover energy costs by aligning with EV charging demand patterns. Meanwhile, EV owners can take advantage of incentives for charging during off-peak hours, which helps alleviate congestion at charging stations, and can get unparalleled transparency into how prices are set.

Stable Auto recognizes that the EV transition will only take off once paired with more reliable and accessible EV charging networks. We believe the single most effective way to rapidly scale EV charging infrastructure is to make it an attractive and sustainable business opportunity. By helping EV charging companies find the best locations and set the right prices, Stable Auto’s EV charging placing and pricing software unlocks the fastest and easiest path to ensuring the EV charging industry is set up for success.

Want to learn more?

Join our webinar on Jan. 23 to learn more about Stable Dynamic Pricing! We’ll dive into proven strategies for boosting revenue at EV charging stations nationwide and share pricing techniques that are often overlooked and surprisingly effective.