Commercial Real Estate Owners hold key to building out EV infrastructure

I’ve come to the belief that Electric Vehicles are here to stay. As such, the commercial real estate industry will need to provide the infrastructure to re-charge the batteries. Very similar to when the gas powered automobiles were initially developed, the growth of the industry was based on how easy it was to re-fill you tank with gasoline.  Now there is a gas station on every corner. Electric vehicles will be no different, however the electric vehicle owners will be able to get their electricity from their homes and offices. (One of the many benefits of owning an EV.)  

Today, there are approximately 1 million electric vehicles on the market in the United States.  In 3 years, that number is expected to triple to 3 million! 

According to Automotive News, there are nearly 100 Electric Vehicles headed to the U.S. by 2024. Companies like General Motors and Ford to BMW, Porsche, Volkswagon, Audi, Mercedez-Benz, Nissan and even McLaren, are developing electric vehicles.

Electric vehicles last year represented 2 percent of new vehicle sales nationally, up from 0.2 percent in 2015. More than 1 million electric vehicles on the road nationally, including about 12,000 in the Houston area. 

By the end of this decade, an estimated 600,000 electric vehicles will be on the road in Houston alone, and 2 million across the state of Texas, according to EVolve Houston, EVolve Houston, is a non-profit created by a public-private partnership between the city of Houston, Centerpoint Energy, Shell, NRG, and the University of Houston to expand the region’s electric vehicle charging network. EVolve Houston says the Houston area has about 230 public electric vehicle charging stations offering 600 charging plugs and estimates the region will need about 6,000 public plugs by 2030 to accommodate the expected influx of electric vehicles. EVolve Houston aims to have electric vehicles represent about 30% of all new vehicle sales in the Houston area by 2030. 

According to the International Energy Agency, there are approximately 200,000 chargers currently deployed in the U.S. - 13 million charging stations will be needed by 2030.

80% of the EV owners charge their Electric Vehicles at home. If you are the owner or a manager of an apartment property, you will need to offer Electric Vehicle charging stations to your residents or they will seek a property that has them. The second most popular place to charge your EV is at the office, so the same principals apply to the office as they do to your home.  Also, it’s obvious to me that all properties will need to have them eventually.

What’s driving the demand?

        Battery strength is improving and many Electric Vehicles can get as many miles out before a re-charge as gas powered engines do between fill ups.  Battery capacity continues to improve over time.

        The prices of Electric Vehicles are coming down and are more affordable to the mass of population.

        The Electric Vehicles are more than 50% to 70% cheaper to own and operate than a gas powered automobiles. (assuming an average price of gas of only $2.00 per gallon)

Why provide Electric Vehicle Charging stations on your property:

        They attract tenants.  An owner of an Electric Vehicle will seek out properties that offer a charging station.

        Electric Vehicles are “GREEN” and according to a study by apartment REIT AMLI, 59% of their respondents said they would pay more to live in a “green or sustainable community.”

       They can be a source of additional income. In addition, in some States, the Charging Stations can generate Carbon Credits which have value based on usage.

 Why REVS Charging:

        Level 2 chargers are the standard for most charging stations. Through extensive research, I have determined that all Level 2 Electric Vehicle charging stations are NOT alike.   The companies that manufacture the charging stations are different and the amenities offered vary between companies.  I have aligned with BlinkCharging, one of the largest manufacturers of EV charging stations and the one that provides the best overall product services on the market. What I like about Blink is that it is a fully integrated company as they design and manufacture their own products, and they are made in the USA.  Most importantly their Level 2 chargers can produce output of 19.2 kWh which will be able to provide an efficient charge on the EV's on the market today, and the 100's of new EV's coming to the market in the next few years, so long as they are served with an 100 amp circuit. 

Lastly, wiring the property when it is under construction is critical and the most cost effective way to host a station.  Bottom line is that 100 amp circuits are needed to supply ample electricity to the charging station; and you should put in extra conduits to allow for expansion. This will allow for you to get the most productivity out of the machine. Please let me know if you would like for me to send electrical specs so your MEP can include in their initial drawings and load calculations.

As mentioned, REVS would like to be your provider and consultant for Electric Vehicle charging stations across your portfolio. Every property is different and poses different challenges. I will be glad to discuss the benefits of engaging REVS for your EV Charging station needs.