With growing demand in the EV market, it’s the perfect opportunity for businesses to increase profit, grow their customer base, and meet consumer needs by installing EV charging stations. More people are looking for alternatives to gas-powered vehicles. In 2024, electric car sales in the US are expected to rise 20% compared to 2023. These people prefer shopping centers, garages, apartment buildings, and more that offer EV charging, making EVs a deciding factor in how or where they take their business.
However, infrastructure for charging stations for electric vehicles has not yet matched gas stations. For every 1,000 road miles in the US, there are 104 gas pumps and only 22 EV charging ports.
If you are a business owner in Greater NYC Metro, there may be ample opportunity for you to expand your reach and draw in more customers through EV charging. An EV charger is the advantage that could make a consumer choose you over a competitor.
Types of business owners installing EV charging stations include:
Any residential landlord aims for low tenant turnover rates with minimal vacancy periods to maintain profitability. One way to appeal to new renters and keep current renters is to install an EV charging station. It offers
All multi-unit residential complexes whether they be large buildings or townhomes with parking decks or common parking lots for owners should be equipped with EV chargers. This will help to maintain property values and attract buyers.
EV charging stations increase sales for business owners. Due to the current lack of EV infrastructure, consumers must be creative in charging their cars. It can take 20 minutes to an hour for a full charge. People will stay longer at any retail center so they shop more while they wait.
Operators of fleet vehicles deal with hefty budget increases when the price of gas rises. When switching to a fleet of EV cars, you benefit from lower costs per mile. Additionally, it increases the positive public image of the company. EV transit buses, taxis, and delivery vans improve air quality, benefiting consumers and the community.
Not to mention, EV offers more flexibility. When you install EV charging stations at your facility:
Anyone who has spent a day in New York City understands how difficult parking can be. Car owners in NYC (and the greater Metro area) pay on average $570/month to park their vehicles. Installing EV charging stations in your parking garage builds customer loyalty and increases retention because their car is always ready to be driven.
As the NY Metro area works for a more sustainable future, EV adoption surges. From attracting a new wave of clientele to boosting employee satisfaction and tapping into governmental incentives, installing an EV Charging Station boosts operational efficiency and community engagement.
For a retailer, being able to enhance your customer service translates to more dollars in your register. Case in point, EV owners seek out locations that offer charging stations to run their errands. 80% of EV users shop at local retailers when charging their vehicles, and 55% of shoppers say that the availability of EV stations influences where they go.
An EV charging station increases foot traffic for your business and keeps people at your store longer. With charging times ranging from 20 minutes to an hour, people need to hang around to get their charging done.
Many websites offer EV charging maps to help EV car owners find charging stations. When you install a charging station at your business, you can add your business for free. This creates another marketing opportunity to bring people to your stores.
Some of the most popular charging maps are:
Just like with gas, it costs money for EV owners to charge their vehicles. EV charging stations offer a passive income revenue stream for retail businesses and property owners. The way to charge for an EV can vary, but most often is a fee based on:
Americans are concerned about climate change. Two-thirds of US adults say we need to prioritize developing renewable energy resources. Your business can prove that you’re leading the way in sustainable initiatives when your parking lot has an EV charging station.
Corporations usually have sustainability initiatives they need to reach. Switching a fleet of vehicles from gas to electric proves to the public that you’re an environmentally responsible business.
With competitive housing and rental markets, landlords continuously need to look for how they can give their properties an edge. An EV charging station is a premium service that simplifies the lives of tenants with electric vehicles. As EV adoption grows, properties with charging stations installed will become more valuable, increasing their price.
EV charging stations also raise property values because:
Carbon credits are part of US cap-and-trade programs and worldwide carbon credit initiatives to reduce carbon emissions. A single carbon credit stands for a single ton of carbon dioxide removed from the atmosphere. Corporations buy and sell carbon credits, creating monetary value for reducing carbon emissions.
When your company installs EV chargers or switches to an EV fleet, this decreases carbon emissions and can help you earn carbon credits.
Spend less money on taxes and more money on improving your business with EV-charging tax credits and incentives.
In the NYC Metro area, there are many local and state tax credits, grants, and initiatives for EV charging stations, including:
EV charging stations increase customer loyalty for businesses and workers. For EV vehicle owners, it’s all about convenience. They will choose to shop at a grocery store with an EV charger when they need their car charged. If a store doesn’t have one, EV owners won’t shop there when they are low on energy.
Additionally, you can retain top talent at your business if you offer EV charging stations. Eco-conscious employees will value that you offer EV charging at your business or make it available to them while they are working.
When you retain customers, employees, and tenants, you spend less on marketing and turnover rates, lowering your overall bottom line.
Increase your property values with a complete EV charging station package from Electric Transport Charging Solutions. We offer seamless EV charger installation and management services, from single stations to multi-site public and fleet charging development projects.
ETCS handles every part of the process from start to finish. In the planning stage, you can expect us to cover:
Learn more about how EV charging can electrify your business and talk to one of our experts today.
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