Electric cars… they’re definitely not a “one-day” thing, anymore. Sure, they’ve been around in some capacity since the 1830s, but today, they’re not just popular; they’re THRIVING. In fact, 1.7 million battery, plug-in, and hybrid electric vehicles were sold in 2020. Compare that to just 16,000 sold in 2011.[i] Case in point, this year’s Super Bowl commercials. Every automobile maker, but one, spent an average of $6.5 million for a 30-second spotlight on their electronic vehicles. That is a huge investment of advertising dollars for such a brief glimpse.
And as the country continues to trend toward EV cars, the need for charging stations is exponentially growing as well. Today there are just over 47,000 public charging stations spread across the U.S. [ii] But is this enough? Not nearly. With the recent goal of having half of all car sales be electric in under 10 years, it’s been predicted that at least 1 million fast-charging stations will be required, especially since 30% of American’s today don’t have access to home chargers. [iii]
So, what does all that mean? It means the EV charging business is growing, and it’s growing FAST. And it doesn’t just benefit those who are installing these stations. It can also benefit every business around them.
A recent article by EV Connect explains it best: Whether you are trying to attract long-distance travelers or locals, adding EV chargers to your property can encourage people to make your store or shopping center a stop on their route. [iv]
And with over 64% of all U.S. adults having received at least one vaccination, more people are beginning to venture out to eat, shop, and – frankly – get out of the house at ANY cost. There couldn’t be a better time for property managers to invest in charging stations (especially for those who choose to monetize their chargers).
Restaurants and Retail aren’t the only markets to benefit from EV charging stations. The hospitality industry is making a big comeback, but with many still hesitant to fly or take public transportation, there will certainly be plenty of people driving to their vacation destinations this year.
Then there’s the need for EV stations at apartments and condos. Installing commercial stations will set the property apart from others, reducing your vacancy rate and improving your cash flow. Plus, the tax credits given can help lower the up-front investment cost.
From where we’re standing, it seems pretty clear that EV charging stations can offer a whole host of benefits for multiple markets and players – from property managers to retailers to apartments. And with Rogers’ experience in the game, we feel just might be that missing piece for you and your company. Reach out to us today, and together, we’re sure to get the job done!