Trends in the Electric Vehicle Market and the Case for Installing EV Charging Stations
Electric vehicles (EVs) have been identified as a crucial step in reducing carbon emissions globally in the effort to slow climate change. The EV market is growing worldwide and with it, the demand for EV infrastructure, including charging stations and EV charging station installation services such as those offered through Relight.
GROWING EV TRENDS AND THE DEMAND FOR EV CHARGING STATIONS
Consumers are increasingly choosing EVs not only due to the obvious environmental benefits of choosing electric but also because of the incredible savings on fuel costs, as well as maintenance costs (EVs have fewer move parts compared to their traditional counterparts.)
To encourage this trend, many countries now offering incentives for the purchase of EVs and the installation of EV charging stations, along with the plan to ban fossil fuel burning cars entirely over the next few decades.
Expected to be a $500 billion global industry by 2025, European and North American countries are helping lead the change. Countries such as France, Sweden, Norway, The Netherlands, and Ireland, are planning to phase out and then ban fossil fuel cars in the next 10-15 years. Cities across the US are offering consumer incentives and passing legislation to increase EV purchases and infrastructure. And here in Canada, we are seeing multiple consumer incentives offered through both private utilities and government initiatives on a provincial and national level.
EV CHARGING STATION INSTALLATION INCENTIVES
As the EV trend continues and more drivers require topping up their batteries, the need for EV charging stations continues to grow.
In British Columbia, though there are currently 30,000 EVs on the roads and 1000 charging stations, the province is said to be the fastest-growing EV market in North America, ahead of other fast-paced markets including Quebec and California. https://vancouversun.com/news/local-news/number-of-electric-vehicles-on-b-c-roads-on-the-rise-province
Federal incentives, and provincial ones through BC Hydro and FortisBC in conjunction with CleanBC, mean new EV customers can receive rebates up to $8000 on new purchases. These programs extend to the installation of EV charging stations as well, with rebates of up to $2000 per station to encourage facilities to offer the service.
You can learn more about the EV charging station installation incentives and the province’s “Go Electric” campaign here. As part of Relight’s EV charging station installation services, we help you navigate and apply for these programs to help you get the biggest rebates possible.
WHAT BUSINESSES HAVE TO GAIN FROM INSTALLING EV CHARGING STATIONS
Commercial properties have a lot to gain from installing EV charging stations in addition to these incentives. This includes the ability to meet and exceed sustainability goals and to be environmental leaders encouraging the move away from fossil fuels to cleaner energy sources.
Forward-thinking businesses add property value through charging stations while giving them a head start in meeting new and emerging building standards.
Businesses also gain a competitive edge with the installation of EV charger stations, helping to attract and retain customers, vendors, and residents and gain recognition of environmental stewardship.
Beyond this, it also pays to become an early adopter of the EV charging infrastructure. Businesses can choose to offer free limited time use service to customers or to use EV charging station services as additional sources of revenue. Commercial properties such as multi-unit residential facilities can adopt different models of billing and metering to pay for the additional electricity costs of the stations while providing a valuable amenity to residents.
EV CHARGING STATION INSTALLATION AND MAINTENANCE WITH RELIGHT
Consider Relight your partner in adding EV charging stations to your business or commercial property. From your free assessment, to project planning, installation, and maintenance, we help you find the right solutions and our Project Managers ensure your project is completed both on-time and on budget. Our technicians are professionally trained to install all types of EV chargers and we help take the guesswork out of each project by helping you navigate requirements, paperwork, and rebate applications. With headquarters in Vancouver and Calgary, we service all of North America. We look forward to providing the right solution for you – contact us today for your no-obligation assessment.