Best Places to Invest in Commercial EV Chargers
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As the electric vehicle (EV) market grows rapidly, businesses and property developers have an excellent opportunity to capitalize on this transformative trend. Investing in commercial EV chargers not only supports sustainability but also drives customer engagement, increases property value, and enhances business competitiveness. Here are the best locations for installing EV chargers and why they are ideal.
Why It Works: Prolonged shopping trips align perfectly with the time needed for vehicle charging. Customers may even extend their visits to allow their vehicles to charge fully, leading to increased sales for businesses.
Example in Action: Retail giants like Walmart and Target have already begun integrating EV chargers into their parking lots, creating a win-win for customers and store owners.
1. Shopping Centers and Supermarkets
Shopping centers and supermarkets attract a high volume of visitors daily, making them prime locations for EV charging stations. Customers often spend significant time shopping, allowing EV drivers to charge their vehicles conveniently while they shop.Why It Works: Prolonged shopping trips align perfectly with the time needed for vehicle charging. Customers may even extend their visits to allow their vehicles to charge fully, leading to increased sales for businesses.
Example in Action: Retail giants like Walmart and Target have already begun integrating EV chargers into their parking lots, creating a win-win for customers and store owners.
2. Hotels, Restaurants, and Hospitality Venues
Hospitality businesses are uniquely positioned to benefit from the EV revolution. Hotels, in particular, serve as temporary homes for EV drivers, making charging infrastructure essential.
Why It Works: A hotel with EV chargers ensures guests can explore the area with peace of mind, knowing their vehicle will be ready for their next adventure. Restaurants, cafes, and bars provide ideal locations for quick top-ups during meals.
Industry Leaders: Marriott and Hilton have partnered with companies like EV Connect to deploy EV chargers across their properties. This proactive approach enhances guest experiences and drives loyalty.
Why It Works: A hotel with EV chargers ensures guests can explore the area with peace of mind, knowing their vehicle will be ready for their next adventure. Restaurants, cafes, and bars provide ideal locations for quick top-ups during meals.
Industry Leaders: Marriott and Hilton have partnered with companies like EV Connect to deploy EV chargers across their properties. This proactive approach enhances guest experiences and drives loyalty.
3. Eating and Drinking Establishments
Restaurants, bars, and cafes are increasingly popular choices for EV charger installations. These venues attract customers who typically spend 30 minutes to a few hours dining, offering a great window for vehicle charging.
Why It Works: Dining establishments can boost customer satisfaction and loyalty by offering charging services, potentially increasing repeat visits.
Added Perks: Businesses can also integrate promotions, such as discounted charging fees for diners, to create a seamless and rewarding customer experience.
Why It Works: Dining establishments can boost customer satisfaction and loyalty by offering charging services, potentially increasing repeat visits.
Added Perks: Businesses can also integrate promotions, such as discounted charging fees for diners, to create a seamless and rewarding customer experience.
4. Multi-Family Dwellings
Apartment complexes and other multi-family housing units are critical locations for EV chargers, given the rise in EV ownership among urban residents.
Why It Works: Tenants often lack personal charging infrastructure, making on-site chargers a valuable amenity. This can also serve as a selling point for property managers, attracting eco-conscious residents.
Future Outlook: With local regulations increasingly mandating EV readiness in residential buildings, investing in EV chargers can future-proof properties and comply with sustainability standards.
Why It Works: Tenants often lack personal charging infrastructure, making on-site chargers a valuable amenity. This can also serve as a selling point for property managers, attracting eco-conscious residents.
Future Outlook: With local regulations increasingly mandating EV readiness in residential buildings, investing in EV chargers can future-proof properties and comply with sustainability standards.
5. Commercial Real Estate
Commercial real estate developers are seizing the opportunity to integrate EV chargers into parking garages, malls, and office complexes.
Why It Works: These spaces cater to high foot traffic and prolonged vehicle stays, providing convenience for both employees and shoppers.
BCG Survey Insights: According to a survey by Boston Consulting Group, parking garages rank among the top preferred locations for EV chargers, even ahead of supermarkets.
Why It Works: These spaces cater to high foot traffic and prolonged vehicle stays, providing convenience for both employees and shoppers.
BCG Survey Insights: According to a survey by Boston Consulting Group, parking garages rank among the top preferred locations for EV chargers, even ahead of supermarkets.
6. Workplaces
Employers can leverage EV chargers to attract and retain top talent in a competitive job market.
Why It Works: Offering EV charging demonstrates a commitment to sustainability, an increasingly important factor for employees. A study shows that 32% of workers would refuse to work for a company that neglects sustainability initiatives.
Added Benefits: Installing chargers fosters a green company image and encourages employees to switch to eco-friendly commuting options, reducing the company’s overall carbon footprint.
Why It Works: Offering EV charging demonstrates a commitment to sustainability, an increasingly important factor for employees. A study shows that 32% of workers would refuse to work for a company that neglects sustainability initiatives.
Added Benefits: Installing chargers fosters a green company image and encourages employees to switch to eco-friendly commuting options, reducing the company’s overall carbon footprint.
7. Public Parking Lots
Public parking lots, including those at municipal facilities, parks, and recreational areas, are perfect candidates for EV chargers.
Why It Works: Vehicles parked for extended periods at these locations present an ideal opportunity for recharging.
Community Benefits: Offering public EV chargers not only supports environmental goals but also improves the appeal and utility of these spaces.
Why It Works: Vehicles parked for extended periods at these locations present an ideal opportunity for recharging.
Community Benefits: Offering public EV chargers not only supports environmental goals but also improves the appeal and utility of these spaces.
8. Educational Institutions and University Campuses
Colleges and universities are natural hubs for EV charger installations due to their role as community leaders in sustainability.
Why It Works: Faculty, staff, students, and visitors can benefit from accessible on-campus charging stations, encouraging the adoption of low-carbon transportation.
Broader Impact: By promoting EV infrastructure, educational institutions set an example for the surrounding community, aligning with their mission to drive innovation and progress.
Why It Works: Faculty, staff, students, and visitors can benefit from accessible on-campus charging stations, encouraging the adoption of low-carbon transportation.
Broader Impact: By promoting EV infrastructure, educational institutions set an example for the surrounding community, aligning with their mission to drive innovation and progress.
Considerations for Installing Commercial Charging Stations
When investing in EV charging infrastructure, businesses and developers should evaluate the following factors:
Location Analysis
High-traffic areas with prolonged parking durations yield the best returns.
Charger Types
Depending on the usage patterns, choose between Level 2 chargers for slower, longer charging and DC fast chargers for quick top-ups.
Scalability
Ensure the charging infrastructure can accommodate future growth in EV adoption.
Incentives
Take advantage of government grants and tax credits to offset installation costs.
Benefits of Commercial EV Charging
Increased Sales & Revenue
Offering charging services attracts more customers, leading to higher foot traffic and potential sales growth.
Higher Property Value
Properties equipped with EV chargers are perceived as modern and forward-thinking, commanding higher rental or sale values.
Improved Sustainability
Supporting EV adoption aligns businesses with environmental goals and enhances brand reputation.
The Road Ahead
The EV market is expected to grow exponentially in the coming years, with millions of new EVs hitting the roads globally. By strategically investing in commercial EV chargers, businesses and property developers can position themselves at the forefront of this sustainable transformation, creating new revenue streams and fostering customer loyalty.
Whether you’re a hotel operator, shopping center developer, or public official managing parking facilities, the opportunities for EV charging investments are immense. With proper planning and execution, your investment can yield substantial returns while contributing to a greener, cleaner future.
Whether you’re a hotel operator, shopping center developer, or public official managing parking facilities, the opportunities for EV charging investments are immense. With proper planning and execution, your investment can yield substantial returns while contributing to a greener, cleaner future.
