Property owners across the board from commercial property owners to suburban strip mall owners have discovered that EV chargers represent a new value-creating asset. The combination of federal incentives and increasing demand and tenant expectations creates an opportunity for landlords to convert parking spaces into profitable charging stations.
Demand Is Skyrocketing
BloombergNEF predicts that electric vehicle adoption in the U.S. will reach 40% of new car sales by 2030. The growing number of electric vehicle users will require charging facilities at buildings and they will select properties that provide charging stations.
The growing number of retailers and office tenants along with residential renters now view EV availability as an essential requirement when choosing buildings in competitive urban markets.
Revenue and Cost Recovery Opportunities
Smart EV chargers allow landlords to:
- Set usage fees per kWh or session
- Offer time-based pricing to encourage turnover
- Provide exclusive or premium access for tenants
The National Association of Realtors identifies EV charging as an emerging operational and rental revenue source that benefits retail centers hotels and multi-family complexes.
Maximising ROI with Incentives
The installation costs of EV charging stations decrease substantially because landlords can receive federal and state grants which provide rebates and tax credits. Smart planning enables energy expense reduction through off-peak scheduling and load balancing methods.
ApexCharger provides complete installation and billing services to landlords and commercial owners who want to upgrade their properties.
Final Word
EV charging stations have evolved from being a tenant convenience to becoming a profitable business opportunity. Landlords who take immediate action can capitalize on increasing demand to create new revenue streams while building enduring property value.
