“By 2030, one hundred percent of Mazda products will be electrified and pure-electric vehicles will account for at least 25 percent of the line-up.” Mazda
“Volvo Cars is committed to becoming a leader in the fast-growing premium electric car market and plans to become a fully electric car company by 2030.” Volvo
The global transition to electric vehicles (EVs) is no longer a niche trend; it’s a mainstream choice for both car companies and consumers worldwide. As automotive brands begin to future-proof ahead of the transition, Kerry Mullany from Smart Energy explores ways business owners can do the same in preparation for a new client demand.
Why does installing an EV charger before the tenants own electric vehicles make sense?
Buying an electric vehicle charger now may seem counter-intuitive, but there are several reasons why businesses could benefit.
- Future-proofing to save money: It’s only a matter of time before all drivers transition to EVs. The EV market is booming. Installing an EV charger on-site now can be cost-effective before prices potentially rise.
- Government incentives: In support of building better infrastructure for going electric, some local government areas are offering financial incentives or rebates for installing EV chargers. Such incentives can make future-proofing more attractive and financially accessible.
- Increasing investment value: Installing an EV Charger could increase the resale value of a property. Potential buyers who plan to own or cater to people with EVs in the future may see the presence of a charger as a valuable asset on a commercial or residential property. Equally, if you rent out a property or own an Airbnb, having an EV charger can be an attractive feature for renters or guests who own EVs. It may lead to higher rental income or more bookings.
- Convenience: As Australia targets net-zero by 2050, the shift to EVs is inevitable. Having private access to an EV charger eliminates the need to rely solely on busy public charging stations. Facility managers and business owners could save tenants, clients or employees time with the convenience of charging their vehicles on site.
- Cost-effective installation: Installing an EV charger alongside a solar and battery install is often more cost-effective and convenient than retrofitting it later. If you are going green with your power source, consider adding an EV charger to complete the package.
- Smart energy integration: Modern EV chargers often have smart features allowing users to schedule charging during off-peak hours when electricity rates are lower. Marrying your EV charger with other smart energy systems, such as smart metres or solar, can lead to even greater cost savings and efficiency.
- Flexibility for the future: Technology evolves quickly, which is why EV chargers include built-in systems to regularly update software. This ensures smooth functioning and access to the latest features, making it a versatile investment.
Supply and demand dynamics
A Savvy survey of 1001 Australians showed 73 percent believe in transitioning to EVs, and 59 percent want Australia ‘all in’ on EVs. The global trend towards EVs is evident as major brands add EVs to their vehicle lineup. With governments pushing for reduced emissions, the electric shift is unavoidable.
Thus, as EV demand grows, equally will the need for accessible charging.
Investing in the future
Acquiring an EV charger before the market booms could offer cost savings, convenience, and future-readiness. The demand for facility charging will become a common and normal request in the not-too-distant future. An early EV charger investment is a smart step to best prepare your property with the facilities needed to cater for this growing demand.
Remember to explore local incentives and rebates to make your investment even more cost-effective.