Electric vehicles are already considered to be a highly beneficial buy. They’ve become extremely popular in recent years and are expected to make up 54% of all new car sales worldwide by 2040. In 2018, however, EVs don’t quite represent the majority of cars out on the road. Part of that has to do with the cost of the vehicles themselves, but there are other concerns that may keep consumers from making the switch to electric. And if those concerns are addressed, it could make all the difference in what we choose to drive.
As of December 31, 2017, there were an estimated 17,526 EV charging stations available for public use. While that may sound like a high number, it’s actually pretty small. For comparison, there were an estimated 263.6 million registered cars in the U.S. in 2015, with anywhere from 115,000 to 150,000 gas stations all across the country. When you take those numbers into account, it’s easy to understand why many would-be electric vehicle buyers cite the lack of EV charging solutions for their decision to remain with a traditional gas-powered car.
But that may not always be the case. The rising prices of gasoline in the U.S. may end up fueling (pun intended) the demand for electric vehicles, provided prices experience more significant jumps. According to industry experts, gas price spikes could be enough to convince people on the fence to finally buy an electric vehicle. A lot more consumers would likely be convinced if the price of the electric vehicles themselves would be more comparable to their gas-powered counterparts. This reality actually isn’t that far off due to the assistance that tax credits provide. And now that consumers are starting to realize they don’t have to sacrifice the quality of their ride just because they opt for electric, many are starting to come around.
Of course, there’s still the problem of finding EV charging solutions close by. But this is growing, too. While most people charge up their vehicles at home, there’s been a movement to install electric car charging stations at workplaces and on rental properties, as well as in other public places. The number of EV chargers available is growing — albeit gradually — and that growth will make this eco-conscious purchase even more practical.
As a property owner, you can be part of making EV charging solutions more readily available to your tenants or employees. By installing these charging stations, you’ll be able to add massive appeal to your property, attract and retain tenants, and benefit from a number of incentives.
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