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Investors in the electric vehicle (EV) industry are shifting their focus from EV production companies to EV infrastructure, as the need for charging stations continues to rise with the increasing number of EVs on the roads.
The adoption of electric vehicles (EVs) is on the rise, and with it comes the need for adequate charging infrastructure. Below eight industries are taking the lead in investing in EV charging stations and networks to meet the growing demand.
Charging stations are proven to attract and retain residents in multi-unit developments. Additionally, it can also boost property values and put property owners in compliance with federal and state regulations aimed at reducing emissions.
Property managers can generate revenue from on-site charging stations with relatively little effort. By utilizing management software, they can cover their costs and even turn a profit.
There may also be rebates available through government grants to offset the purchase and installation of EV charging stations.
Car dealerships are adding a new revenue stream through home charger deployment. By partnering with a charging solutions company, dealerships can offer customers the option of a complete turnkey Level 1 or Level 2 charging system installed at their homes as part of the deal.
Additionally, with CSMS(charging station management system), dealerships that want to make EV charging available on their lots can connect all dealership locations under one group to form a single charging network for customers and employees.
The charging services market is seeing a surge in EV fleets, as fleet operators recognize the cost-cutting benefits of efficient energy procurement and management. With a growing number of electric vehicle options available, it's become increasingly financially feasible for businesses to switch to electric-powered fleets.
Assuming widespread EV adoption, McKinsey projects that U.S. commercial and passenger fleets in the United States could include 8 million EVs by 2030 (compared to less than 5,000 in 2018). That’s 10-15 percent of all fleet vehicles.
By doing so, they not only save money on fuel and maintenance costs but also contribute to a cleaner environment.
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Many countries such as the US and the UK have approved the the documents that require all new home construction to be “EV ready.”
These requirements are expected to raise the price of EV-ready homes. And build ev charging construction previously is much cheaper than retrofitting the infrastructure later
More and more educational institutions are implementing the use of intelligent electric vehicle (EV) charging stations on their campuses. These EV charging stations offer modern amenities to faculty, students, and guests while also helping to promote sustainability goals.
Hotels and restaurants are joining the movement towards sustainability by offering on-site electric vehicle (EV) charging facilities. This not only attracts eco-conscious customers but also helps businesses meet their own sustainability goals.
While some offer the charging service for free as an added bonus for guests, others leverage this trend to increase revenue with the charging stations.
How to Choose EV Charging Stations for Workplaces?
On-site workplace charging helps attract and retain a cutting-edge workforce and demonstrates leadership by your company in adopting advanced technologies.
Before installing EV charging solutions for their workforce, employers should consult their utility, electrical contractor, and charging equipment provider to discuss potential challenges.
On-site workplace charging helps attract and retain a cutting-edge workforce. Furthermore, providing employees with the ability to conveniently charge their electric vehicles at work can be a valuable perk that boosts morale and productivity.
Before installing EV charging solutions for their workforce, employers should consult their utility, electrical contractor, and charging equipment provider to discuss potential challenges.
You may want to learn:
How to Choose EV Charging Stations for Workplaces?
The demand for EV charging stations is rapidly increasing as more people switch to electric vehicles. Parking lot owners can take advantage of this as well as contribute to a cleaner environment by installing EV charging stations. Not only will they attract more customers, but it will also distinguish their parking lot from competitors.
Additionally, many cities and governments offer incentives for installing EV charging stations, further increasing the return on investment.
Furthermore, the rise of EVs is not showing any signs of slowing down. According to a report by the International Energy Agency, by 2030, the number of electric cars on the road around the world could be as high as 220 million. This means that the demand for EV charging stations will only continue to grow, making it a promising investment for parking lot owners.
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