As we all continue to adjust to the new normal, smart businesses are looking ahead to anticipate the needs of seniors, students, travelers, restaurant diners and more. But with so many Americans now working at least partially from home, offices and other commercial spaces remain closed across the country.
To help ease the transition as employees slowly return to the workplace, property owners are adding more tenant perks to commercial real estate business plans. EV charging at work will soon become one of the smartest and most effective of those perks.
Planning for the Future
In a time of unprecedented uncertainty, businesses have had to adapt on the fly to their customers’ needs and innovate in real-time to find solutions. No one knows what the next few years will look like, but experts agree that CRE companies that embrace change will succeed based on their ability to evolve with the times. Flexibility and innovation will be essential, especially pertaining to people coming back to the public and shared spaces — from malls to restaurants to office buildings.
However, that does not mean that CRE companies should only focus on the short term. Instead, it is vital to treat this time as an opportunity to stay competitive in the short-term while making a long-term investment. It’s the best of both worlds — and adding tenant perks to commercial real estate like EV charging will pay dividends both now and later.
The EV Experts
If you or your company need help navigating the road to EV infrastructure, EV Connect is the industry leader in bringing EV charging to workplaces across the country. We can help your company take advantage of government sustainability initiatives like rebates and tax incentives that benefit your commercial real estate business plan. Our EV station management software makes maintenance easy and efficient. With years of experience in the EV space, we can help you make an infrastructure investment to bring business back to your commercial spaces now and prepare your properties for a future where EV charging stations will be a standard.
The Office Reimagined
COVID-19 has had the most significant impact on the economy since the Great Recession in 2008, but when it comes to CRE, it has affected properties in different ways. This past summer, while residential housing went through a rent crisis and retail spaces struggled to keep tenants in place, office and industrial spaces were able to maintain around 90% of their rent collections.
However, there is little doubt that workplaces will need to dramatically change to meet new health and safety standards, and accommodate anxious employees returning to the office. The open-concept office may need to take several steps back to the more traditional workplace. But there is no going back on some of the new habits and employee life changes forged during the pandemic.
That includes the way workers commute, when they commute at all. Right now, video conferences and teleworking will dominate, while public transportation will take longer to return. That means that climate-conscious commuters will pursue other eco-friendly travel methods and speed up the inevitable transition to electric vehicles. That will make EV charging at work an attractive incentive through the rest of the pandemic and even more of a necessity over the next decade.
Charging Toward the Future
The future may look fuzzier than ever, but certain trends are here to stay and will only expand in the coming years. Simply put, electric vehicles are the wave of the future, and the pandemic has made them even more of a focal point. Auto companies are on track to introduce as many as 100 new EVs to the market by 2030 — the date that many states are targeting for their green technology initiatives, and the year that California will outright ban the sale of gas-powered vehicles statewide.
But if you postpone your commercial real estate business plans until 2030, it will be too late. Industry experts foresee the EV charging station market growing by a whopping $20 billion by 2024 — just a few short years away. In the last year alone, carmakers have collectively pledged hundreds of billions of dollars toward developing EVs, and both the public and private sectors are ramping up investments in EV technology and infrastructure.
Stay Safe, Save Money
Consumers are paying attention. As the economy continues to recover, families are looking to cut costs and reevaluate their budgets, and alternative energy will be a solution for many. While solar panels and electric vehicles require an initial investment, savvy customers realize the savings that come with eliminating fuel costs, which are highly subject to market forces and international politics. Moreover, EVs are also the perfect practical commuter car for urban environments, as they turn your gas-guzzling everyday commute into a cleaner, cheaper joyride.
It’s not just the savings: EVs allow drivers to avoid gas stations, which raise issues of health and hygiene, and instead charge their vehicles at home and work where there’s less foot traffic. Plus, as an added incentive, EV drivers can ride in the HOV/carpool lane to limit their drive time in certain areas and cut down on commuting time. Offering EV charging at work is another way to respond to consumers, making it easier for employees to return to the office while feeling safe and secure.
The Time is Now
As the pandemic continues to change the lives of all Americans, it’s essential to anticipate consumers’ changing needs. EV charging at work isn’t just smart for the future — it’s smart right now. With tens of thousands of dollars available in State and Federal government incentives that can help defray installation costs, EV charging stations are a no-brainer for every commercial real estate space. Connect with us now, and learn how EV Connect can help your business thrive today and tomorrow.
References:
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https://www.bizjournals.com/dallas/news/2020/10/06/how-commercial-real-estate-is-responding-to-covid.html
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https://www.naiop.org/en/Research-and-Publications/Magazine/2020/Summer-2020/Business-Trends/Experts-Speak-on-COVID19s-Impact-on-Commercial-Real-Estate
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https://www.caranddriver.com/features/a34497920/the-evs-are-coming/
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https://www.marketwatch.com/press-release/impact-of-covid-19-on-the-electric-vehicle-charging-stations-market-2020-08-31?mod=mw_more_headlines&tesla=y
