Year after year the electric vehicle market is rapidly increasing around the world. Government regulations setting targets to sell only zero emission vehicles by 2040 will generate a major shift in the energy sector and energy distribution infrastructure worldwide.
Last month, British Columbia has made the pledge to phase out of internal combustion engine vehicles by 2040 with targets in 2025 and 2030. This presents an unprecedented opportunity for commercial real estate owners to create a new income generation source by turning their parking stalls into energy (gas) stations with the installation of EV charging stations.
Vehicle manufacturers are already in a pursuit of electrifying their vehicles as Tesla is stealing most of the mid luxury sedan market from BMW, Audi, Mercedes and the likes. Over 50% of the mid luxury sedan combined sold were Tesla Model 3 within the first three quarters of 2018. This massive influx of electric vehicles isn’t being matched with proportional public electric vehicle charging stations across cities. Commercial real estate owners are having a golden opportunity to tap into a decentralized energy market, one of the greatest market shift in the last century.
The fact that no longer million dollars investments are required to provide energy to the transportation industry is a disruption on its own. Currently, anyone owning a piece of commercial property has the opportunity to install public electric vehicle charging stations while generating an ROI within 3 to 7 years depending on the charging station’s location.
A simple drive around Vancouver, Montreal, Toronto, or any of their surroundings will provide evidence of the growing market. The new EV charging infrastructure can’t keep up with the EV sales on our roads putting pressure on the existing infrastructure creating room for new revenue generating opportunities.
The phenomenon is the same as the Wi-Fi in 2000, however this time there is a quantifiable return-on-investment. It’s a matter ripping the benefits of the investment sooner than later when it becomes an expected requirement from clients: The result from every vehicle having a plug by 2040.
Here are a few questions to answer if you are currently looking to purchase commercial EV charging stations for the first time or to increase your existing infrastructure:
Would you like to future-proof the investment to avoid stranded assets?
What networking features do you require?
Are you looking for flexibility amongst hardware and software?
What locations would be best for a faster ROI?
If you require assistance with choosing the best option that is currently offered on the market, we’d love to help you. Please contact us.