Electric vehicles (EVs) are not inventions of modern times. It was in 1888 when the very first electrical car appeared. However, the popularity of EVs has fluctuated over the years.
It was until 1997 that Toyota unveiled Prius, the world’s first mass-produced hybrid vehicle. Despite the critics, the Toyota Prius helped spark the electric revolution once again and has paved the way for cars like Nissan Leaf and companies like Tesla to appear.
Helped by environmental factors, the EV industry started to grow and bring us where we are today. Over the past few years, the world has seen an increase in EV demands and market value projections. In fact, the global EV market is expected to be over 37 million by 2025.
However, the electric revolution relies heavily on good EV infrastructure. With the growing adoption of EVs and the shift to clean energy in full swing, it’s important to understand why you’d want to invest in smart EV infrastructure and install electric car charging systems on your business premises.
Here are some of the benefits of having an EV charging system for your business.
-
Gain Incentives
To accelerate the adoption of electric vehicles, local, state, and national governments have sought to provide subsidies and incentives for businesses as well as individuals who embrace change.
In the UK, the government created the Workplace Charging Scheme for businesses. It is a coupon-based system, providing the upfront expenses for the purchase and installation of EV charging points at business premises and workplaces.
Companies can cover up to 75% of all purchase and installation expenses. It is capped at GBP£350 for each EV charger device, for up to 40 across all locations.
Meanwhile, for homeowners, the Electric Vehicle Homecharge Scheme allows individual owners of eligible EVs to get up to 75%, capped GBP£350 including value-added tax (VAT) of one EV charger’s total purchase and installation expenses.
Companies installing an EV charging station can also get tax benefits by a 100% first-year allowance for payments on EV charging accessories.
As you can see incentives can cover up most of the cost, making EV charging an excellent investment for your business. It’s important that you move quickly and install an EV charging station right now since the incentives that exist today might not be here in 5 – 10 years due to expected market growth.
If you’re looking for a reliable provider of EV charging systems in the UK, consider System EV. They are approved by the Office for Zero-Emission Vehicles (OZEV) and provide a full range of recommended charging products for your business.
-
Attracts Customers
Businesses do everything to build a strong relationship with their customers and keep them happy and satisfied. Adding a charging station can help do just that.
Consumers, particularly millennials and Gen Zs, increasingly care about associating with businesses that promote sustainability. They are more motivated to be loyal to a business that listens to their customers and takes care of them responsibly.
And consumers will be encouraged to indulge in your business if they see that you’re providing well-rounded and eco-friendly accommodations. Installing an EV charging station will make a good impression on customers and boost your reputation in the market.
In addition, charging stations can attract new customers to your business, especially those who drive EVs. This move can bring satisfaction to customers and edge out your competitors who don’t offer this special perk.
Think about this: if you run a hotel or a restaurant, you can attract customers with your EV charging station by allowing them to use it during their stay. As a bonus, a charging station can also increase customer dwell time which means more income opportunities for your business.
-
Increase Property Value
Nearly three-fourths of apartment tenants are looking for eco-friendly amenities. Installing EV charging stations in apartments, condos, and other multi-family dwellings can help improve your property’s appeal to the growing demographic of electric vehicle drivers.
Zipcodes with the most EV charging ports installed in parking lots may have median listing prices which are 2.6x higher than other areas.
In addition, several states in the US passed laws mandating a minimum number of EV charging stations to be installed in parking areas of multi-use dwellings. Thus, business properties, shopping malls, and housing that don’t conform will become less valuable and desirable.
Meanwhile, those that adopt sustainability and accommodate EVs will be seen as environmental stewards and thus, increasing their property value.
-
Go Green While Having a Competitive Advantage
In 2019, the average CO2 emissions of cars in the UK was 127.9 grams per kilometer. Although this number dropped significantly in the past year, if the UK is to reach its net-zero targets by 2050, the country needs to encourage the widespread adoption of EVs.
With that said, businesses need to be mindful of the intense scrutiny on how they are contributing to such efforts. By installing EV chargers, you’re supporting the adoption of a sustainable mode of transportation. And in that sense, you’re reducing your carbon footprint and contributing to the betterment of the environment.
And while it helps enforce your green business initiative, it also makes you look competitive in the eyes of consumers. Most physical shoppers will drive to your business. EV drivers will choose businesses offering them the perk to charge their cars as they shop over companies that don’t. This can help you provide a competitive edge by offering a superior shopping experience.
Conclusion
Can your business match this fast pace? With the EV market growing and widespread adoption, the expectations for EV charging amenities in businesses as a standard is not too far off.
Change is coming. With the introduction of ultra-low and low emission zones and a possible ban on new petrol and diesel vehicles, people are switching and adopting innovations that are good for Mother Earth.
