Parking Operators Embrace EVs as Both Sustainable and Profitable

If you’re a Parking Operator or Facilities Manager in charge of managing a parking garage, you know keeping occupancy levels high is essential to making a profit.

Because they attract more drivers, including drivers who have more money to spend, you’ve likely chosen to install EVSE or you’re considering whether electric vehicle chargers are right for your facility. EV chargers present an opportunity to offer local employees, visitors, guests, and staff, with a modern, highly desired amenity, to advertise your company’s environmental principles, and to provide an addition source of revenue for your company that requires little or no time investment.

Are EVs Really That Popular?

According to BBC News, there are already more than 4 million EVs on the road globally, and the number will only increase. Colin McKerracher, head of advanced transport at Bloomberg New Energy Finance believes by the mid-2020s, when electric vehicles “will cost the same as ones powered by internal combustion engines”, the number on the road will explode. Already, many EV models are below $35,000.

According to Cars.com, 20% of consumers (50 million people) are likely to buy an EV for their next car, while in Bloomberg Report’s “Electric Vehicle Outlook” industry insiders expect 57% of vehicles on the road to be EVs by 2050. Nearly 2 million new EVs will be on the road this year, when just a few years ago, only a couple of thousand new EVs were on the road each year. EVs are the future of automobiles, and many drivers are already eager for more charging stations.

Armed with advanced technology and lower prices, the EV market share has nowhere to go but up.

What are the Benefits for Facilities?

At shopping malls, grocery stores, gyms, movie theaters, and restaurants, consumers stay longer and spend more when they are also charging their cars at these locations. Chargers in these locations help local business owners make more money, while increasing the car owners’ length of stay in the garage is profitable for the garage’s owner and its parking management.

EV owners will always choose your facilities over those without EVSE, and their friends and colleagues are likely to follow suit. Even those without EVs are likely to view facilities that offer environmentally-friendly garages as sustainable, safe, and trustworthy.

However, longer staying times is not the only opportunity to make a profit from installing EV chargers.

Being a member of Blink’s network enables our partner businesses to track time and use of the charger, operate the charger remotely, set hours of operation, and most importantly, charge for electricity use and use of the charger.

Blink makes it easy for facilities to install their own electric vehicle charging stations, increase their profits, and attract clientele that stays longer while they charge. EVSE is an investment that pays back both as an additional revenue source, in public relations, and in attracting top-earning clientele.

If you manage a garage that is part of a residence, such as an apartment building or condo, opportunities are even greater since over 80% of drivers prefer to charge at home. Multi-family dwellings become ideal places to attract top-quality tenants with first class amenities, like EVSE, which promote community health.

Many states are now requiring new builds to include EVSE in their plans, providing the necessary power for current or future EVSE. Facilities that want to stay current are installing charging stations to stay ahead of the game.

Getting Started

According to Facilities Management Advisor, the first step for the facility’s manager is to speak with the facility’s owner. EVSE is an investment and should be discussed as one by all the people who have a hand in deciding which investments are the right ones for the facility.

Check with your valet staff to see how many electric vehicles they see frequenting the garage and survey your garage to see frequent visitors such as employees, visitors, staff, or shoppers are driving electric. Finding out how many drivers already need charging stations, and how many more will need them in the future, can help your facility’s owner make a decision.

A Blink Representative can also help you understand if there are any grants or incentives available for installing EV chargers in your area. The availability of these funds can dramatically reduce the cost of deployment and when coupled with Blink’s shared ownership business model you may not need to upfront anything for the equipment.

It’s well known that electric vehicles are trending for the future therefore it’s critical for the long-term viability of your locations to be an early provider of EV charging stations.

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