Electric Vehicle Ownership in Real Estate & Commercial Parking

The adoption of electric vehicles (EVs) is accelerating rapidly, with global sales expected to reach 10 million units by 2025. This growth is being driven by a number of factors, including government incentives, declining battery costs, and increasing consumer awareness of the environmental benefits of EVs.

As EV ownership increases, so too does the demand for charging infrastructure. Real estate and commercial parking operators are well-positioned to capitalize on this trend by installing and operating EV charging stations.

In this newsletter, we explore the following topics:

1.???? Benefits of EV charging for real estate and commercial parking

2.???? Types of EV charging stations

3.???? Planning for EV charging infrastructure

Benefits of EV charging for real estate and commercial parking

There are a number of benefits for real estate and commercial parking operators who install and operate EV charging stations. These benefits include:

• Attracting and retaining tenants and customers: EV drivers are more likely to choose properties and businesses that offer charging options. A study by JLL found that 70% of EV drivers are more likely to patronize a business that offers charging stations.

• ?Generating revenue: EV charging stations can generate revenue for property and business owners in a number of ways. For example, they can charge users for electricity, lease space to charging station operators, or offer advertising opportunities. A study by McKinsey estimates that the global EV charging market could generate up to $1 trillion in revenue by 2030.
• Increasing property value: Studies have shown that properties with EV charging stations sell for a premium. A study by the National Association of Realtors found that homes with EV charging stations sell for an average of $6,700 more than those without.
• Future-proofing properties: As EV ownership continues to grow, EV charging stations will become an essential amenity for real estate and commercial parking properties. By installing EV charging stations now, property and business owners can ensure that their properties are well-positioned for the future.

Types of EV charging stations

There are two main types of EV charging stations: Level 2 and Level 3. Level 2 chargers are the most common type of charger and can fully charge an EV in 4-8 hours. Level 3 chargers are much faster and can charge an EV in 30 minutes or less. However, Level 3 chargers are also more expensive to install and operate.

Planning for EV charging infrastructure

When planning for EV charging infrastructure, there are a number of factors that need to be considered, including:

• The type and number of chargers: The type and number of chargers that are needed will depend on the specific needs of the property or business. For example, a multifamily apartment building may need a different type and number of chargers than a commercial parking garage.

• The location of the chargers: Chargers should be located in convenient and accessible locations. For example, chargers in a multifamily apartment building should be located near parking spaces. Chargers in a commercial parking garage should be located near the entrance and exit.
• The power supply: EV chargers require a significant amount of power. Property and business owners need to ensure that their electrical system can handle the additional load.
• The cost: The cost of installing and operating EV charging stations can vary depending on the type and number of chargers, the location of the chargers, and the cost of electricity.

The adoption of EVs is accelerating rapidly, and real estate and commercial parking operators are well-positioned to capitalize on this trend by installing and operating EV charging stations. EV charging stations can generate revenue, increase property value, and future-proof properties.

If you're thinking about making the switch to an electric vehicle, I highly recommend it. It's one of the best decisions I've ever made.

At TelioEV , we're passionate about helping ev users by providing comprehensive charging management solutions and a user-friendly Mobile app to assist EV users in their charging needs Our team provides dedicated support and assistance to EV users , ensuring a seamless charging experience.

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