The path of electric vehicles (EVs) is taking off at a mind-boggling pace. And with that comes the need to scale up our charging network. You can expect commercial sites to account for 7 million charge points by 2030.
This explosive sector presents lucrative opportunities for commercial properties. Picture this: diminishing your carbon footprint while drawing in a modern, eco-conscious clientele.
The avenue to such a reality? A commercial EV charging station. Let’s dive in to see the benefits for those who choose to ride this electric wave.
Tangible Savings With EV Stations
The conversation surrounding charging stations often circles back to cost efficiency. It’s about rising above the upfront investment to reveal the long-term monetary gains. Let’s delve into the tangible cost benefits through real-world examples and data.
If you want to take advantage of notable cost savings, consider purchasing Level 3 charging stations. Commercial and fleet vehicles get the most bang for the buck when you stack them up against fuel costs. Fuel prices often fluctuate, making for a lousy business strategy since you want stability.
The financial incentive extends beyond fuel savings. Some places are eligible for rebates from the Energy Administration for charging stations. For example, the rebate in Maryland covers up to 40% of project costs or $4,000, whichever is lower.
Don’t forget the Inflation Reduction Act tax credits. Combine that with rebates, and a property could save $13,000 on a $30,000 project.
Moreover, the average upfront price of installing a single Level II EV charger is around $6,000. With many chargers, the cost ranges between $30,000 and $120,000. But, many incentives ensure property owners won’t bear the full brunt of the expense.
You can see further evidence in a case involving FedEx Express. They optimized the charging strategy of 100 Navistar eStar all-electric delivery vehicles. As a result, they saved around $11,500 per month when compared to unmanaged charging.
Differences in the Charging Stations
The differences come down to their charging speed, cost, and infrastructure requirements. Here is a brief summary of each level.
Level 1
This is the slowest and cheapest option, using a regular wall outlet and a cable that comes with every EV. It can charge up to 5 miles per hour. This is enough for some drivers with short commutes or access to daytime charging.
Level 2
This is the most common and versatile option. This option uses a higher voltage and a dedicated charger that you can install at home or in public places. It can charge up to 25 miles per hour, which is suitable for most drivers and scenarios.
Level 3
This is the fastest and most expensive option. It uses a direct current (DC) and a specialized charger that requires a high-voltage power supply. It can charge up to 200 miles per hour, which is ideal for extended trips or emergencies.
Enhancing Property Value
People are now more interested in sustainable living. So, properties with EV charging stations attract modern-day consumers like magnets.
They not only increase the property’s value but also its allure to potential tenants or buyers. The modern tenant views such services as not a comfort but a step towards caring for the environment. And it doesn’t hurt that there are some estimates of property value going up about $5,000 per charger.
A study revealed a 3.3% higher value for homes situated within 1 kilometer of EV charging stations. Homes standing 0.4 to 0.5 kilometers away experienced the most significant boost. Their value increased by 5.8% compared to homes located farther away.
Environmental Responsibility
The environment is not just a buzzword; it’s a responsibility. Property owners housing charging stations are, in a sense, raising a culture of sustainability.
They are playing a big part in cutting down on the amount of carbon dioxide that gets released into the air. This is a step forward in making the air cleaner and our communities healthier.
These property managers are doing more than cutting down on carbon emissions. They’re also building a community. A place where EV drivers can meet, share stories, and encourage each other to live more green.
When property managers add these chargers, it shows they are not just following a trend. They are shaping the future in the here and now and making a bold statement. It’s that they believe in renewable energy and are willing to invest in it.
This dedication to being sustainable and forward-thinking can boost the property’s reputation. It’s not only good for the environment; it’s a smart business decision too.
Easing Your Worries
Stepping into the realm of electric vehicle (EV) charging might feel a bit daunting. You might have questions, as well as some doubts that still remain.
This is natural whenever we venture into something new and significant. But understanding and addressing these concerns can change your perspective and decision. Below, you’ll find some of the most typical worries that property owners have.
Understanding the Tech
EV charging technology advances and remains user-friendly. Guidance and support are available to help you understand and manage the system.
Reliability
They build these stations for durability. Reliable performance over time means fewer headaches for you.
Space Requirements
Worried about space? EV charging stations have flexible installation options. You can integrate them into existing structures with minimal disruption.
Safety Concerns
Safety is a priority with EV charging stations. They come with features that ensure safe charging and operation.
Future Adjustments
As the EV market grows, upgrading or adding more stations is an option. This scalability lets you keep up with demand without the fear of falling behind.
Consider a Commercial EV Charging Station
Discover the art of green innovation at Lightility. Here, we use a commercial EV charging station as a gateway to efficiency. Our work shines, as proven by the 2022 Most Efficient Project award.
We promise more than just solutions; we offer a journey, a transformation. A transformation that will electrify a promising future where we all stand united. With our white-glove service, expect seamless transitions and significant financial savings.
Ready to redefine your space and join the next industrial revolution? If so, connect with us at Lightility. Let us illuminate your path to a more sustainable and brighter future.
Marnie Abramson is at the helm of Lightility, leading the charge in energy conservation solutions. Her visionary leadership has propelled Lightility to the forefront of the industry, specializing in reducing energy costs and enhancing sustainability for businesses. Marnie’s approach to energy conservation combines cutting-edge technology with strategic planning, ensuring clients receive comprehensive and customized solutions. Under her guidance, Lightility is dedicated to helping businesses navigate the complexities of energy management, offering insights into the latest trends, technologies, and practices that drive energy efficiency and environmental responsibility.