For the past decade, electric vehicles (EVs) have been touted as the future of transportation. And while we strongly believe that to be true, it’s easy to see why some may have their doubts. EV adoption remains low, around 1%, and that means many people still see them as a novelty. This begs the question, why install expensive charging hardware before it’s certain EVs are here to stay? And while a wait-and-see attitude seems like the safest option, it has several downsides.
Charge Ahead
EVs have been on the cusp of widespread adoption for the better part of a decade. Today there are more EVs on the road than ever, but only a few models stand out. We’ve all seen Teslas grow in popularity but many would struggle to name other popular EVs. So what will make 2021 and onwards different? Up until now, many existing car manufacturers have offered limited, if any, full electric car lineups. That changes in 2021. With manufacturers such as Ford, Volkswagen, General Motors and more all launching new EVs there will be plenty to choose from. Moreover, the variety on offer across all categories of vehicle will make EVs a viable option for everyone.
So what does this have to do with getting a charger? If you are purchasing an EV it makes sense to install a charger at home, but there are other scenarios where it is also beneficial. Many businesses and multifamily buildings can benefit from EV charger installations. Furthermore, currently there are substantial rebates available for businesses and multi-family homes. Let’s first consider businesses.
Charging at the store
Although EVs generally have more than enough range to only need to charge overnight at home, people are naturally inclined to to charge when they can.
Charging in any of its forms takes time, so topping up whenever possible allows you to maintain range or at least save some time next time you charge. This means if a business offers EV charging, customers are likely to make use of it.
Now, it’s easy to think it’s great to please customers but they’re not visiting my business because of charging, but that’s not always the case. Yes, they’re likely not seeking out your business exclusively for the charging you offer; however, if an EV owner has the choice between two rival businesses and one offers charging, odds are they’ll choose the one with the charger. Furthermore, once they’ve chosen your business and plugged in, they’ll know the longer they stay the more charge they get. This means they might stay longer in your store than they otherwise would have, leading to an increased likelihood of driving more business to you.
Everyday more businesses are installing EV charging stations, meaning the window to get an edge over rivals won’t last forever, but that leads to another reason to install now. Why not get a headstart on your competition and lock in current EV owners as customers today.
Built-In Charging
Another area where EV charging needs to be considered is new development projects. One of the main challenges when installing a charger stems from having to work around drywall, asphalt, or other landscaping. By planning for and installing a Level 2 charger during the construction process, the overall cost of installation can be significantly lower. With the growth in popularity of EVs, EV charging stations will be an expected amenity that real estate developers should seriously take into consideration.
Furthermore, there is evidence to suggest that EV chargers add to your home value. Homes in proximity to public charging stations sell at a premium. Prospective home buyers are increasingly likely to be EV owners, therefore an installed EV charger will be an attractive amenity.
This logic is applicable to apartments, condominiums, and Homeowner Associations (HOAs) too. If you’re looking to make your properties attractive to prospective buyers, it is advantageous to offer EV charging. At the very least, HOAs, condominiums, and apartment buildings should have plans in place for how to handle the need for charging. If buildings don’t currently offer charging, every day they wait it grows more likely that one of their current or future occupants will want to have a charger installed. When that day comes, it helps all parties if a plan is already in place.
Rising Tide
EV sales have been increasing every year. While the COVID-19 pandemic may have put a slight dent in that growth in 2020, the wave of new electric cars coming to market in 2021 will reinvigorate the industry. Practically all variants of cars will have fully electric options, and these options will only continue to improve. In many cases they surpass the performance of their internal combustion engine rivals.
It doesn’t take an expert to see that EV’s are here to stay. And while gas cars will remain on the roads for years to come, they will only be declining in popularity. Keep your housing or business up to date by installing a charger today and ensure all your customers’ needs are met. Furthermore
Learn more about how Effortless Electric can help you prepare for the electric future here.
