Have you noticed lately your morning commute is a little bit … quieter? Over the last 10 years, there’s been a significant increase in the number of electric vehicles on the road in the U.S. — from under 500,000 to north of two million.
When EVs first came to the market, they seemed to many people like futuristic, luxury products. Manufacturers like Tesla and BMW weren’t exactly affordable. These days, everyone from Toyota to Ford to Honda is making electrical vehicles for the average consumer. You can expect that trend to continue. The U.S. just created a new regulation stipulating that by 2032, half of all new vehicles manufactured must be electric or hybrids.
Many business owners are already transitioning to solar power due to environmental benefits and savings on energy bills. Indeed, at BAI, we think there’s never been a better time to go solar. But there’s another great opportunity for business owners to take advantage of something that isn’t always talked about: building electrical vehicle charging infrastructure at your office.
A Complementary Opportunity
Electric vehicle charging infrastructure is a great complement to a solar project. Think about it: You’re already generating energy thanks to your solar panels; now you can use some of that power to help fuel vehicles, and at a lower cost than gasoline.
Another way to conceptualize an EV-charging infrastructure project is as a work perk: As more and more EVs take to the road, there will be increased demand for midday charging; the availability of charging sites at the office could be a selling point to employees. Not only that, but charging infrastructure can be an additional revenue source for your business, as people pay to “fuel up.” Finally, if you’re a commercial enterprise, there’s another benefit to EV charging infrastructure: Clients might spend more time at your business while they’re waiting for their vehicle to charge!
Economic incentives
Thanks to the Inflation Reduction Act, there are considerable tax incentives that support the creation of additional EV charging infrastructure. Businesses that install EV charging are eligible for tax credits offsetting 30 percent of the cost of construction; tax breaks at the state level may be available as well.
Between saving on fuel, taking advantage of tax incentives, and leveraging existing solar generation, EV charging stations can be a great accompaniment to a solar project. To learn more about how your business can harness solar energy, both for your regular energy needs and for electrical vehicle charging, get in touch with us today for a consultation.