Electric vehicles have transitioned from being experimental vehicles to becoming an essential element of contemporary lifestyle. EV ownership growth across the United States drives transformations in both transportation methods and real estate development processes and market approaches.
Real estate developers must now include EV charging infrastructure as an essential element for all future-proof developments that combine residential and commercial spaces.
EV Charging as a Marketable Asset
The rising number of property buyers and tenants demands electric vehicle charging facilities to become a standard feature in their residential and commercial properties. The installation of on-site charging facilities adds value to properties while attracting more tenants and demonstrates superior environmental sustainability. Developers and property managers implement EV charging infrastructure because it creates a strategic advantage that makes their assets relevant for years to come.
McKinsey & Company projects the United States will require more than 1.2 million public and semi-public EV charging stations by 2030 to support projected EV adoption thus creating significant demand for residential and commercial charging infrastructure.
Boosting Property Value and Retention
The presence of EV charging stations in properties leads to higher sales prices and better retention of tenants particularly in areas where electric vehicles are commonly used. The installation of charging infrastructure in your property listing becomes a vital differentiator that helps you attract both multifamily renters and office tenants seeking extended leases.
Commercial landlords can strengthen their environmental sustainability position through EV charging infrastructure to help tenants fulfill their sustainability targets while securing future-proof lease agreements against growing electric vehicle usage.
Regulatory Pressure and Incentives
Multiple U.S. cities and states are modifying their building codes to force the implementation of EV-ready infrastructure. The California Building Standards Commission has implemented a new rule which requires EV-capable parking spaces in residential and commercial developments throughout the state.
Government incentives together with utility rebates create affordable opportunities to establish EV charging systems both during development and after construction completion. Early implementation of regulations today will prevent future disruptions along with reduced expenses in the future.
Real estate developments that want to be ready for the future need to focus on building infrastructure.
Real estate investors who want to succeed view EV charging as an indispensable basic infrastructure element. The installation of Level 2 chargers with load management functions allows buildings to adjust to increasing EV adoption without requiring expensive electrical system renovations.
Future innovations such as vehicle-to-grid (V2G) systems and dynamic energy pricing become possible through this infrastructure development.
ApexCharger offers scalable code-compliant charging solutions for real estate development that you can reach out to learn more about. Their team provides quick and efficient EV infrastructure deployment to property developers and owners and managers.