Are you a parking lot or garage owner who wants to add that extra something to make yours the most desirable parking spot in town? Adding EV chargers to parking lots and garages can do just that.
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The Benefits
Learn how installing EV chargers in your parking garage or lot can transform your business. Here are five proven benefits EV charging infrastructure brings you and your customers:
1. Take Advantage of the Uptick in Both Travel and EV Adoption
As a recent McKinsey article puts it, “travel is roaring back” after a long pandemic-induced drought. But gas prices haven’t returned to their pre-pandemic low.
So, contrary to the popular misconception that EV adoption is slowing, more people are turning to electric vehicles than ever before, many of them to avoid the pain at the pump. You can take advantage of that growth by being one of the first parking spots in your area with EV charging stations.
It’s not only local commuters and short-distance travelers you can serve. If your parking lot is on or near a hotel or other tourist attraction, you can garner business from out-of-town visitors as well.
As new EV charging technologies emerge that make it faster to charge electric vehicles, more people will be likely to consider EV adoption. Getting in on the ground floor in your target market can put you out front of your competitors in parking lots across your area.
2. Generate More Revenue from Your Real Estate
As a Driivz blog post points out, you can use your EV charging stations to generate more revenue than if you had left your lot a blank canvas. Pricing your charging services to compete with stand-alone EV charging stations allows your customers to complete the errands they need to run in nearby businesses while they charge their cars.
Who wouldn’t pay a little extra for that convenience? Not only can EV chargers in your parking lots increase your revenue, but as the word spreads across town, you’ll find yourself with new customers as well.
3. Prepare Your Parking Lot Business for an Electric Future
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As a growing number of people see the benefits of EV ownership, EV adoption will likely rise, especially in urban and suburban areas. Installing at least a few EV charging stations in your garages and lots now can prepare your company for the onslaught of business yet to come.
If you want to really get a foothold on an electric future, you could add to your appeal in the coming years by installing renewable energy sources, such as solar panels or wind turbines. Renewables can serve as a valuable backup source of energy now — and as a cost-saver in the future.
4. Reduce Your Company’s Tax Burden
Some state and federal programs offer tax credits to businesses that install EV charging stations. With your accounting team, research the options available in your area to see if any programs can help you reduce the taxes you’ll likely owe at the end of the year.
5. Make Your Community a Cleaner, Greener Space
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Providing your customers with a place to charge their EVs doesn’t only benefit your business in the short term with higher revenue and a more seamless customer experience. Promoting EV usage, especially if you install renewable energy sources, can also help clean up the air your community breathes.
Even this altruistic goal has a practical benefit besides cleaner air. Since both millennials and Gen Zers are more likely to patronize eco-friendly businesses, you’ll also grow your customer base within this key metric.
The Proof
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These predicted benefits have become a reality for parking lot and garage owners who have taken the EV charging plunge. If you need to convince your company stakeholders to install EV chargers in some of your parking spaces, these companies’ success stories prove that you’re recommending the right move:
- Price Chopper: A regional grocery chain in New York State, Price Chopper took a “leap of faith” in EVs’ growth 10 years ago. The move proved profitable in both monetization and customer interest.
- Cité Nature: Cité Nature, a new Montreal condominium complex, has added EV chargers to its many amenities, monetizing its parking garage while boosting interest among the city’s upwardly mobile population.
- Hartsfield-Jackson Airport: This busy Atlanta aviation hub drove its profits even higher as it secured a more sustainable future for itself and its community by installing 275 EV chargers in its parking lots. The airport management plans to add renewable energy sources as interest in EV adoption grows.
- Walmart: In 2018, this well-known retail chain opened its first EV charging station in Hope, Arkansas. That first spark set off the rapid growth of a massive network of Walmart charging stations, providing added convenience for its customers and employees alike. Its success has inspired the company to plan a nationwide network of DC fast chargers, making its stores a one-stop shop for everything customers need.
These are only a few of the many case studies that show the success a company can enjoy when it installs EV chargers in its parking lots and garages. You, too, can join their number when you leverage careful planning to optimize your investment.
Optimize Your Parking Lot Charging Investment with Expert Advice
Installing EV charging stations isn’t a magic wand that can transform your business. It takes careful planning and expert advice to optimize your investment.
Your pre-planning process should include the following steps:
- Run the idea by your company’s leadership team and top stakeholders.
- Research ways to reduce your initial cost while maintaining safety.
- Forge relationships with local lawmakers, first responders, and utilities.
Then, once you get everything in place, consult with EV charging infrastructure professionals with expertise in parking lot charging. Learning from industry experts who can help you get off to a great start.
You’ll find industry experts with deep knowledge of the parking lot charging space at the EV Charging Summit. Not only will you benefit from their expertise during their presentations, but more importantly, you’ll also be able to interact with them personally, building your network even as you soak up their knowledge.
So, don’t miss your opportunity to transform your parking lot business with EV charging stations. Reserve your spot at the Summit today!
