In the ever-evolving landscape of sustainable energy, commercial electric vehicle (EV) charging stations are emerging as a powerful tool for businesses to establish themselves as leaders in electrification. As consumer preferences increasingly align with Environmental, Social, and Governance (ESG) programs, commercial EV charging stations present a unique opportunity for businesses to meet these goals while reaping a multitude of benefits.
While EV drivers predominantly charge at home, this trend is poised to shift with the proliferation of commercial charging options. For commercial building owners or property managers, embracing this shift by offering commercial electric vehicle charging stations represents a strategic investment.
In this article, we explore the advantages and benefits businesses can realize by investing in and installing commercial electric vehicle charging stations at their properties.
In the dynamic landscape of modern business, the paradigm is shifting towards sustainability, and commercial electric vehicle charging stations are emerging as a powerful catalyst for change. These stations are not just a means of powering vehicles; they represent a strategic investment that goes beyond the immediate benefits, aligning businesses with the growing demand for Environmental, Social, and Governance initiatives.
Commercial electric vehicle charging stations are an effective way to establish your brand as an electrification leader.
With more than 60% of consumers basing their purchase decisions on ESG program trends, it’s no surprise that more brands are embracing environmental and social programs.
However, these brands are also facing a push for transparency as consumers and investors demand ESG programs with a tangible and measurable impact. Commercial electric vehicle charging stations address these expectations by directly supporting EV adoption and contributing to reducing greenhouse gas emissions.
Businesses can go further by adopting electric fleets and company vehicles to reduce their environmental impact and eventually achieve a net zero goal, while realizing financial savings and enhanced fleet performance.
Commercial EV charging supports the community-wide goal of building a clean and sustainable mobility network, a crucial step in attaining a sustainable future, with the transportation sector representing 29% of all greenhouse gas emissions.
With 32% of consumers considering an EV purchase citing the lack of charging options as a barrier, offering EV charging throughout the community would directly contribute to increasing EV sales and can generate added revenue streams for your business.
Beyond their primary function of facilitating EV charging, commercial EV charging stations offer many unique advantages that go beyond the traditional scope of energy infrastructure. Installing EV charging stations at your business will not only meet the growing demands of U.S. consumers but also serves as a strategic asset in enhancing your business appeal, supporting employee satisfaction, and attracting a loyal customer base.
Experts estimate that U.S. consumers will need 28 million chargers by 2030. Commercial EV charging is emerging as a convenient solution that allows EV owners to charge their vehicles while making a purchase or accessing a service.
Commercial electric vehicle charging stations send a strong message about your commitment to sustainability and can contribute to forming a meaningful connection with consumers who care about the environment.
Consumers aren’t the only ones who will use commercial electric vehicle charging stations. Charging at work is a convenient perk that can attract and retain talent, and by also adopting electric fleet vehicles to support your ESG goals and reduce fleet maintance and fuel costs, you can further boost your employee satisfaction and meet your ESG goals in a highly visible and financially profitable way.
Commercial electric vehicle charging stations are a visual element that passersby and customers will immediately notice, and an electrified fleet will further enforce this image. Installing EV charging stations and electrifying your fleet will create a modern and future-oriented image for your brand and can result in new partnerships and investments from organizations that share your values and ESG goals.
EV charging can become a new source of revenue for your commercial property, offsetting the upfront cost of the installation and resulting in an ongoing stream of revenue while diversifying your activities and supporting business resilience.
Free commercial electric vehicle charging stations can create value merely by getting people in the door or resulting in consumers spending more time at your place of business, a model that is proving effective for destination businesses such as shopping malls.
You can also implement a subscription or pay-per-use model based on the time or energy used. When it comes to generating revenue, additional electrification projects including solar arrays and battery storage can create more value, for instance, by guaranteeing uptime for the charging equipment or resulting in additional revenues through net metering for solar energy.
Partnerships with EV manufacturers or local energy providers can create more value by creating incentives for EV owners to use their charging equipment or by giving them access to more affordable energy rates. You can also form partnerships with local businesses or even with your local government to provide affordable charging to existing electric fleets.
Commercial electric vehicle charging stations open new possibilities with ancillary revenue. You can update your business model to offer products and services, such as selling snacks or offering flexible business centers where EV owners can work while charging. Advertising on and around the charging stations is another source of revenue to explore.
EV charging is an infrastructure upgrade that can increase property value and pave the way for future electrification upgrades.
Your charging equipment and any electrical upgrades you made when installing it will add value to your commercial property. Commercial electric vehicle charging stations also create the potential for ongoing revenue while giving your property a competitive edge, two elements that will directly increase your property value.
Plus, electrification tends to have a positive effect on property value on a broader scale, with home prices going up by 5.8% on average if EV charging is available nearby.
Property value will keep increasing as the demand for EV charging continues to grow. As one of the first local businesses to offer commercial charging, you have the possibility to become a leader while preparing your commercial property for future electrification projects, such as adding more EV chargers or investing in electric appliances.
The benefits of commercial electric vehicle charging stations extend far beyond individual businesses. These charging stations can provide substantial value to the community, support businesses, and enhance the broader societal and environmental ecosystem, but installing EV charging stations can create high upfront costs. Thankfully, there are many incentives on the federal, state, and local level that can help support businesses with the cost of installing EV charging stations.
Offering EV charging is a meaningful ESG project with a direct impact on the environment. It also benefits the community as a whole by supporting better air quality and access to clean transportation options.
EVs and sustainable transportation will play a crucial role in strengthening community ties and making job opportunities, education, and healthcare more accessible through clean and affordable mobility solutions. Commercial EV charging is one of the steps needed to create transportation networks that bring people closer to businesses to support the local economy.
You can offset the installation cost of the charging equipment and create additional value through incentives. There is a federal tax credit that covers up to 30% of the installation cost, and you can explore additional programs offered at the state, municipal, and utility levels. Many of these incentives can be overlapped, creating incredible savings and added benefits for companies who take advantage of these programs.
As a commercial property owner or manager, you can make a difference in your community by offering EV charging, while also creating advantages toward your business goals. This investment will yield several benefits for your business, including supporting tangible ESG goals, creating new sources of revenue, and modernizing your brand image.
Get the most out of electrification by partnering with the most experienced electrification leader in North America to plan your electrification project. With over 269,000 EV charger installations to-date and the highest satisfaction scores in the industry, Qmerit makes electrification easy with the largest network of certified electricians skilled in EV charger installations and other electrification services across the U.S. and Canada.
If you’re ready for the next step of the planning phase, learn more about determining what kind of charging station is best for your needs, and contact Qmerit today to find out why no one is more trusted or experienced when it comes to home and business electrification!
For more information on the future of electrification, read Qmerit’s white paper produced by our newly established Electrification Institute, Electrification 2030.