The Benefits of Installing Electric Vehicle Charging Stations in Commercial Parking Garages

It's no secret that electric vehicles (EVs) are taking over. Governments around the world are incentivizing the switch to electric, and manufacturers are responding with a growing lineup of EV models. As the number of electric cars on the road increases, electric vehicle charging stations are becoming an increasingly vital piece of commercial parking infrastructure, which is why it's crucial that parking garage managers, especially those operating within shopping malls or business centers, install EV charging stations to meet the growing demand. In this blog, we'll explore the many financial, environmental, and marketing benefits of implementing EV chargers in commercial parking structures.

The transition to EVs

In the last decade, electric vehicles have progressed from being a novelty to being everywhere. EVs are becoming more popular, and manufacturers are reacting by providing more car options and incentives to entice buyers to make the transition.

For instance, Audi is moving quickly toward the future of sustainable premium mobility, with a 57.5% rise in completely electric vehicle deliveries over the previous year. The company intends to offer more than 20 completely electrified cars in its lineup by 2025. Beginning in 2026, the company will only introduce totally electric vehicles to the market.  Other manufacturers, such as BMW, Mercedes-Benz, and Porsche, have stated intentions to convert to all-electric fleets by 2030, while Ford aims to be carbon neutral by 2050. 

So what does all this mean for your commercial parking garage? It means you'll soon have more and more drivers who need to charge their cars, and you'll need to be prepared for them!

Also read:  10 Reasons To Switch To Electric Cars 

Parking Garage Managers: Get Ready for the EV Boom

Now is the perfect time to act and explore installing electric vehicle (EV) charging equipment in the commercial parking structures you manage. With generous incentives and tax credits available, plus a rising number of EV drivers on the road, providing EV charging infrastructure is a wise business investment.

To get started, it's important to create a comprehensive EV charging station installation plan, which includes: 

• Examining  the general layout of the property
• Identifying parking spots where EV chargers will take place 
• Assessing the current electrical infrastructure and implementing any necessary upgrades or changes
• Considering how much power will be needed to supply a given volume of EV charging stations

Once the installation plan is in place, it's crucial to ensure your charging infrastructure is easily accessible for clients who need to charge their vehicles. One effective way to do this is by implementing efficient parking protection and parking management systems specially designed for EV charging stations. This can eliminate issues like ICEing (blocking of charging spots by internal combustion engine vehicles)  and hogging (EV users staying connected to a charging station longer than necessary to charge their car) that affect all commercial parking facilities. Insights into system deployment, resolving frequent challenges, and enhancing the customer experience are provided through our use case, EV Charging Station Parking Management Solutions and Systems.

Finally, let's dive into the many ways EV charging stations benefit your business, including financially, ecologically, and marketing-wise.

Financial Benefits of Installing EV Chargers in Commercial Parking Garages 

With the increasing popularity of EVs, providing charging infrastructure is a valuable investment that pays off in multiple ways. Here are the most important financial benefits to consider.

Attract New Customers 

By installing EV charging stations in your parking facility, you have the possibility of attracting a whole new customer base. Electric vehicle drivers are always on the lookout for places to charge their vehicles, and if your commercial parking facility has an electric vehicle charging station, it will make them more likely to choose your business (ex., a shopping mall)  over others in your area.

Make More Loyal Customers

EV drivers are very loyal customers because they need to recharge their vehicles on a regular basis. This means that as an EV station provider, you'll be able to build relationships with repeat customers who come back again and again because they know they'll have access to reliable charging infrastructure when they use your parking facility.

Increase Customer Retention 

EV charging stations can help you retain customers by increasing the time they spend at your location. EV drivers tend to stay longer at locations where they can charge their vehicles, as charging times can range from 30 minutes to several hours.

Improve Occupancy Rates

As a business owner, you know that occupancy rates are a key metric for your bottom line. New consumers, loyal customers, and enhanced customer retention all naturally contribute to higher occupancy rates, which are vital for overall financial success.

Achieve Revenue Growth

With all of these benefits combined, installing EV chargers in your commercial parking garage will ultimately lead to revenue growth. Not only that, but you'll also be able to charge for the use of the charging stations themselves. Plus, as more and more people make the switch to electric vehicles, the demand for charging infrastructure will only increase, giving you even more opportunities to generate revenue from your EV charging stations.

Marketing Benefits of Installing EV Stations in Commercial Parking Garages 

Consumers are becoming more eco-conscious and want businesses that share their values. Installing an electric vehicle (EV) charging station in the commercial parking garage of a shopping mall, business center, or condominium complex you manage is a terrific way to demonstrate to clients that you care about the environment and make them feel good about doing business with you. It also brings many other valuable benefits, which we will go over in detail, that you can use for marketing purposes.

Distinguish Yourself From the Competitors 

In a crowded market, having a unique selling point is essential, and providing charging infrastructure for electric vehicles can set your business apart from others. That’s why EV charging stations can be used as a brand differentiator, allowing you to stand out from your competitors and attract new customers who are specifically looking for businesses that offer this type of service.  By incorporating EV charging stations into your commercial property, such as a shopping mall or condominium complex, you open up a world of marketing possibilities to enhance your overall advertising strategy. 

Enhance Your Image and Position Your Business as a Sustainability Leader

The way people perceive your business has a significant impact on its success, which is why enhancing your image is very important. By investing in sustainable technology, you demonstrate that you are a forward-thinking and modern business that cares about the environment and is committed to reducing its carbon footprint and helping customers make sustainable choices. This can be a great PR opportunity, as it demonstrates that your business is not only concerned with profit but also with doing good for the planet.

Also read: Top 10 Cities in Europe with the most EV Charging Stations

Ecological Benefits of Installing EV Stations in Commercial Parking Garages 

Naturally, the most obvious benefits of installing EV stations in commercial parking garages are environmental ones. With the rise of climate change and environmental degradation, it is crucial to adopt cleaner and more sustainable technologies. By providing charging stations for EVs, businesses can contribute towards building a more sustainable future while also reaping the benefits of doing so.

Greenhouse Gases and  Environmental Footprint Reduction

By implementing EV charging stations, businesses can actively contribute to the reduction of greenhouse gases and the minimization of the environmental footprint. Unlike traditional gasoline and diesel vehicles that release toxic pollutants, contributing to air pollution and climate change, EVs operate emission-free, making them a far cleaner and more ecologically friendly alternative. To maximize the environmental advantages of EV charging stations, businesses have the opportunity to integrate roof solar panels into the charging infrastructure. This way, you can effectively power your EV charging stations without relying on fossil fuel-based electricity by harnessing the energy generated from renewable sources. 

Also read:  Solar Powered Parking Solutions - Clean Energy For Clean Future

Encourage the Transition to Renewable Energy

By offering EV charging stations, your company will be taking a proactive step toward promoting the transition to electric cars and decreasing negative environmental impacts. This is especially important in areas where electric car charging stations are limited or non-existent, as it offers a valuable opportunity to drive and accelerate the adoption of electric vehicles. 

It's a worthwhile investment

In conclusion, it is evident that investing in EV charging stations is a profitable and forward-thinking decision. Therefore, managers of commercial parking garages should seriously consider investing in this technology in order to enhance their market presence, achieve financial benefits, and increase customer satisfaction. The wide variety of benefits that come with installing EV chargers should make the decision an easy one, and the sooner you take action, the bigger your competitive advantage will be. So what are you waiting for?