A new study published in Nature Sustainability shows that the proximity to electric vehicle charging stations can increase home values depending on where homes are located. Researchers analyzed 14 million housing transactions between 1993 and 2021 in the state of California, and found that homes within 0.4 to 0.5 kilometers of EVCSs were valued 3.3% higher than homes not in proximity.
While a number of real estate experts are still studying the effects of EV charging stations on home value, it’s becoming more and more common to see residential properties with a proximal charger. Millennials and Zoomers are moving into the home market, and they’re looking for houses with eco-friendly features that will help them achieve their green lifestyle goals.
The presence of a charging station at a property is also a great way to attract tenants who own EVs, as well as retain existing ones. The presence of a proximal charging station can signal to potential renters that the landlord or property manager has environmentally friendly values and can provide amenities that will support these values.
Adding an EV Charger to Your Office
Increasingly, businesses are recognizing the layered value that a charging station offers to employees and customers alike. In addition to the environmental benefits, a charging station can help improve the air quality of a city and increase revenue for property owners.
Commercial EV Charging Facilities
Offering a public EV charging station is a great way to promote environmental awareness, and it can increase the number of customers who visit your business. It’s also a great way to promote energy efficiency, and it can help lower your utility bills as well.
In addition, adding an EV charging station can give you an advantage over competitors in your industry, and it can help you stand out in the minds of consumers and visitors. It can also make it easier for your company to recruit and retain talent.
For instance, a recent study in the United Kingdom showed that homes with an L2 charger sold for 13% more than homes without one. This is a significant benefit for any property developer.
Creating a Better Future through EVs
The ubiquity of EV charging stations is growing rapidly, and it’s important for all property owners to recognize the impact these charging stations can have on their communities. The following five reasons explain why you should add an EV charger to your property:
Proximity to EV Charging Stations Increases Property Values
The availability of EV charging infrastructure is becoming a must-have for buyers in most markets, and it’s only going to become more necessary as EV sales rise. This is especially true for affluent neighborhoods where the cost of a car and the need to travel to work are driving demand.
Providing Charging Infrastructure for Employees
In addition to a charging station, it’s also a good idea to create a culture of electric car adoption in your workplace. This includes training employees on EVs and their benefits, as well as creating incentives for them to adopt electric vehicles.
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