The Future of Commercial Properties with Electric Vehicle (EV) Charging Points
In today's rapidly evolving landscape, sustainability has emerged as a core value for businesses seeking to make a positive impact on both the environment and their bottom line. One of the most exciting developments in the realm of sustainability is the integration of electric vehicle (EV) charging points into commercial properties. This dynamic shift not only aligns with global and national environmental goals but also offers a host of benefits for businesses, employees, and customers alike.
In this blog, we'll explore the future of commercial properties with electric vehicle (EV) charging points, highlighting the transformative potential they hold.
Benefits of Installing EV Charging Points at Commercial Properties
Installing electric vehicle (EV) charging points at commercial properties offers a multitude of benefits, ranging from environmental advantages to financial incentives. As the world transitions towards sustainable transportation solutions, commercial property owners stand to gain significantly by embracing this trend. Here are some key benefits of installing electric vehicle (EV) charging points:
Attracting Customers and Tenants: Offering electric vehicle (EV) charging facilities can attract a growing segment of environmentally conscious customers and tenants who drive electric vehicles. This can enhance foot traffic, customer loyalty, and tenant retention rates, ultimately boosting business success and property value.
Market Differentiation: Installing electric vehicle (EV) charging points sets commercial properties apart from competitors by showcasing their commitment to sustainability and innovation. This unique selling point can give commercial property owners a competitive edge and attract businesses that align with eco-friendly values.
Increased Property Value: Properties equipped with electric vehicle (EV) charging infrastructure are perceived as forward-thinking and attractive to a wider range of potential buyers or tenants. This can lead to increased property values and a potentially faster leasing or selling process.
Reduced Carbon Footprint: Supporting electric vehicle adoption contributes to reducing greenhouse gas emissions and improving local air quality. By facilitating electric vehicle (EV) charging, commercial property owners actively participate in the fight against climate change, which can enhance their corporate social responsibility image.
Employee Satisfaction: Providing electric vehicle (EV) charging points can enhance employee satisfaction and attract a more diverse workforce. Employees who drive electric vehicles will appreciate the convenience of charging their vehicles while at work, promoting a positive workplace environment.
Future-Proofing: As the EV market continues to grow, electric vehicle (EV) charging infrastructure will become increasingly essential. Installing charging points now positions commercial property owners to meet the evolving needs of businesses and customers, ensuring long-term relevance and value.
Public Relations and Brand Image: Electric vehicle (EV) charging point installation can generate positive media coverage and public attention. Demonstrating a commitment to sustainability can enhance a commercial property's brand image and reputation, attracting socially conscious stakeholders.
Networking and Collaboration: Collaborating with EV charging providers and electric vehicle manufacturers can create opportunities for networking and partnership. These partnerships can lead to joint marketing initiatives, workshops, and other collaborative efforts that benefit both the property owner and the electric vehicle (EV) industry.
The Rise of Electric Vehicles and Commercial Properties
With governments worldwide implementing stricter emissions regulations and consumers becoming more environmentally conscious, the demand for electric cars has skyrocketed. As a result, businesses have a unique opportunity to tap into this burgeoning market by offering electric vehicle (EV) charging points at their commercial properties.
By providing a means for electric vehicle owners to conveniently charge their cars while conducting business, companies can demonstrate their commitment to reducing carbon footprints. These efforts resonate powerfully with environmentally conscious consumers who are actively seeking out businesses that share their values.
Additionally, consumers are not just looking for products and services; they're seeking experiences that align with their values. Drivers of electric vehicles actively seek out establishments that understand and support their eco-friendly choices, making commercial properties with charging points a preferred destination.
By offering electric vehicle (EV) charging points, commercial properties can attract a loyal customer base that values sustainable practices. The ability to conveniently charge their electric vehicles while engaging in retail therapy or enjoying a meal is a unique offering that can set a business apart.
Beyond the obvious advantages of an improved brand image and an expanded customer base, the integration of electric vehicle (EV) charging points can open new revenue streams for commercial properties. Depending on the business model and location, property owners may choose to charge for the use of their charging stations or offer complimentary charging as an added perk. This dual approach can generate income while enhancing the overall value proposition of the property. Additionally, as the adoption of electric vehicles continues to rise, the demand for charging services will only increase, providing a reliable income source for years to come.
Trends and Market Demand for EV Charging
The automotive industry is undergoing a profound transformation with the rapid adoption of electric vehicles (EVs).
As governments worldwide emphasise reducing greenhouse gas emissions and enhancing sustainability, the demand for electric vehicles has surged. This surge in electric vehicle adoption, in turn, has fuelled a pressing need for accessible and reliable electric vehicle (EV) charging infrastructure.
Statistics from the Society of Motor Manufacturers and Traders (SMMT) indicate that EV sales in the UK have been consistently rising, accounting for a substantial share of new vehicle registrations. In city centres, consumers are increasingly opting for electric vehicles due to environmental consciousness, reduced operational costs, and advances in battery technology that offers impressive driving ranges.
Electrified vehicles accounted for more than a third (35.4% of the market) in July and the demand for battery electric cars was such that a new one was registered every 60 seconds in the month. Additionally, according to the latest market outlook published 4th August 2023, this will accelerate to one every 50 seconds by the end of the year, and up to one every 40 seconds by the end of 2024. 3
Navigating the Installation Process
While the decision to integrate electric vehicle (EV) charging points into commercial properties is an exciting one, it's essential to navigate the installation process with care.
Technical Considerations: The successful installation of electric vehicle (EV) charging points hinges on understanding the technical requirements involved. Factors such as power capacity, charging point type, and location play a crucial role in determining the efficiency and effectiveness of the electric vehicle (EV) charging infrastructure. Collaborating with experienced electric vehicle (EV) charging point providers and installers ensures that the charging points are strategically positioned and adequately powered to meet the needs of electric vehicle owners.
Costs and Incentives: Investing in electric vehicle (EV) charging infrastructure involves both initial costs and ongoing operational expenses. However, businesses may be able to take advantage of various incentives or grants offered by the UK government and local authorities to offset these costs. Researching available incentives can significantly mitigate the financial burden of installation. These incentives not only make the transition to electric vehicle (EV) charging more affordable but also contribute to the overall return on investment over time.
Selecting the Right Partner: Choosing the right partner for the installation and maintenance of EV charging points is a critical decision that can impact the long-term success of the initiative. Reputable providers offer guidance throughout the process, from site assessment to equipment selection and ongoing support. Collaborating with experienced independent partners ensures a smooth installation process and reliable operation of the charging infrastructure, minimising downtime, and optimising customer satisfaction.
5 Steps to Get Started
Integrating electric vehicle (EV) charging infrastructure into commercial properties requires careful planning and consideration. Here's a step-by-step guide to help commercial property owners navigate the process:
- Identify suitable locations for charging points based on factors such as visibility, accessibility, and proximity to high-traffic areas. Choose locations that accommodate electric vehicle (EV) charging without disrupting regular operations.
- Engage an electrician to evaluate the property's electrical capacity and determine if any upgrades are needed to support charging points. Ensure that the existing electrical infrastructure can handle the additional load.
- Navigate the local planning process, which may involve zoning regulations, building permits, and electrical permits. Compliance with building codes and safety standards is essential to ensure a successful installation.
- Collaborate with established and independent electric vehicle (EV) charging point providers to simplify management, maintenance, and billing. These partnerships can offer seamless access to a broader network of users.
- Consider implementing a user-friendly payment and session management system. This could involve smartphone apps, or contactless payment options to streamline the charging experience for electric vehicle users.
Future Innovations and Adaptations
The evolution of electric vehicle (EV) charging technology continues to present exciting possibilities for commercial property owners. Wireless charging technology, currently in its early stages, has the potential to revolutionise electric vehicle (EV) charging by eliminating the need for physical connectors. This innovation could lead to effortless and seamless charging experiences for electric vehicle (EV) users.
Smart charging solutions, integrated with energy management systems, will allow property owners to optimise charging schedules based on grid demand and renewable energy availability. This not only reduces operational costs but also contributes to a more sustainable energy ecosystem.
And as electric vehicle (EV) charging point technology evolves, commercial property owners must remain adaptable to accommodating changes in battery technology, charging speeds, and connector types. Future-proofing their charging infrastructure ensures long-term relevance and value.
Conclusion
The future of commercial properties with electric vehicle charging points is promising and transformative. By staying abreast of market trends, selecting the right charging point, planning for a seamless installation, and embracing future innovations, commercial property owners can position themselves as leaders in sustainability and customer satisfaction.
Beyond the environmental benefits, businesses stand to gain increased brand value, customer loyalty, and revenue streams by embracing this transformation.
And, as we look ahead, it's clear that commercial properties that embrace EV charging infrastructure are at the forefront in powering progress.
3 Based on DVLA working hours.