Top Five Benefits of EV Charging Stations for Commercial Properties
Top Five Benefits of EV Charging Stations for Commercial Properties:
Electric vehicles (EVs) are speeding into the future, leaving traditional cars in the rearview mirror. EVs are dominating the global car market, with sales projected to accelerate by nearly 30% to 15.1 million units by 2025, according to S&P Global. In the U.S., the pace is even faster, with sales expected to grow by 36%, putting an estimated 1.8 million EVs on the road by the end of 2025.
This isn’t just a lap in the race toward sustainability—it’s a pivotal moment. As EVs shift from luxury to everyday necessity, commercial property owners have a unique opportunity to stay ahead of the curb by installing EV charging stations. Beyond meeting the demands of a growing EV market, this investment offers a range of benefits, from attracting high-value tenants to boosting property value and sustainability profiles.
Learn more about The Top Five Benefits of installing EV charging stations and how SourceForward can guide you through every turn.
5 Benefits of EV Charging Stations for Commercial Properties
- Attract and Retain High-Value Tenants / Customers:
As electric vehicles (EVs) continue to gain popularity, commercial properties with EV charging stations have the upperhand in attracting eco-conscious consumers, tenants, and employees. Sustainability has become a key consideration for individuals when deciding where to shop, work, or live.
By offering EV chargers, property owners can appeal to this growing demographic while signaling their commitment to environmental responsibility—an increasingly important value for today's consumers.
CBRE’s 2023 EU Office Occupier Sentiment Survey shows, 40% of building tenants want green lease clauses and 48% see EV charging stations as an impact on location satisfaction.
The innovative businesses that stand out will be the ones installing EV charging stations. These commercial property owners will attract high-value tenants, by providing sustainable perks for employees, and fostering customer loyalty by meeting the growing demand for green infrastructure.
2. Generate Additional Revenue Streams
Imagine earning money effortlessly—not just from one source, but from multiple streams flowing in even while you sleep. When installing EV charging stations, businesses can monetize chargers by implementing pay-per-use fees or time-based parking charges, creating an additional income stream.
Moreover, EV charging stations increase customer dwell time, giving businesses more opportunities to engage and convert visitors into paying customers. Studies show that EV chargers can boost spending at nearby establishments by up to 37%, making them a valuable asset for driving foot traffic and boosting profits.
3. Boost Property Value and Future-Proof Assets
Investing in EV charging infrastructure is a long-term strategy to increase property worth and appeal. By positioning your property as modern, sustainable, and aligned with future environmental regulations, you can enhance its desirability and command higher rental rates.
Studies show that green buildings with sustainable features, such as EV chargers, experience a 10% to 20% market value increase compared to non-green properties. Forward-thinking companies in the competitive commercial real estate market can gain a significant edge by offering EV charging amenities, attracting eco-conscious tenants, and securing higher income potential.
When it’s time to sell, properties equipped with EV charging stations stand out, often leading to higher sale prices and making your investment a future-proof asset.
4. Reduce Carbon Footprint & Strengthen ESG Profile
Installing EV chargers supports your corporate sustainability goals while aligning with local and regional climate initiatives.
As ESG (Environmental, Social, and Governance) priorities rise to the top of executive agendas, providing on-site EV charging solutions helps tenants and their employees meet emission reduction goals while also qualifying your property for certifications like BREEAM and LEED.
According to CBRE, over 30% of global Fortune 500 companies have achieved or are committed to climate goals by 2030, up from just 6% in 2016.
By offering EV charging stations, you make it easier for tenants and their communities to adopt electric vehicles, reduce greenhouse gas emissions, and meet sustainability benchmarks.
5. Leverage Electric Vehicle Incentives Programs & Rebates
Installing commercial EV charging stations can be a significant investment, ranging from $7,000 to $14,000 per Level 2 charger. However, local and national incentive programs can substantially reduce the cost and more.
For instance, the Alternative Fuel Vehicle Refueling Property Credit provides a 30% tax credit for eligible businesses, up to $100,000 per charging port, while NYSERDA’s Charge Ready NY 2.0 program offers up to $4,500 per charging port, depending on the installation location. The SmartCharge New York program also provides annual incentives for off-peak charging, offering up to $400 per year per charging station.
These incentives not only reduce upfront installation costs but also provide long-term savings and revenue opportunities. With deadlines approaching—such as the expiration of federal tax credits by December 31, 2032—acting now is crucial to maximize these opportunities.
How Source Forward Can Help
It’s not every day that government agencies offer billion-dollar opportunities, but navigating the complexities of EV charging station installations and fleeting incentive programs can feel overwhelming for property owners. That’s where SourceForward steps in. With a team of experts, SourceForward acts as your one-stop shop, providing end-to-end assistance and ensuring you capture the financial and strategic advantages of green energy upgrades.
In just six months, SourceForward has leveraged over $200 million in utility incentives and rebates for its clients. Our success is rooted in speed and adaptability, enabling you to stay ahead of ever-changing incentive deadlines and ensure no opportunity is missed.
The process begins with a detailed site audit to evaluate your property’s needs. From there, SourceForward guides you in selecting the ideal EV charging equipment, customized to your goals and budget.
Our proprietary expertise in government and utility programs—like federal tax credits, Con Edison’s PowerReady initiative, and NYSERDA grants—helps maximize your savings while minimizing costs.
At SourceForward, relationships are key. Our specialists provide personalized guidance, handle all paperwork, and coordinate installations with a trusted network of contractors. This hands-on approach ensures a seamless experience while building trust and long-term partnerships. With a deep understanding of real estate, sustainability, and emerging technologies, SourceForward positions your property for success in the green energy future.
Conclusion
The demand for EV charging stations is shifting into high gear. Commercial properties ready to install will attract top tenants, boost property value, and create new revenue streams—all while staying ahead in the green energy race. With government incentive deadlines coming up fast, now is the perfect time to take the wheel.
Let SourceForward be your navigation, handling everything from site audits to installations and ensuring you maximize savings along the way.
Contact SourceForward today for a consultation and bring your property into a sustainable future!
