By Warren Clarke
More and more car buyers are discovering the benefits of owning electric vehicles (EVs). According to The Electric Vehicle World Sales Database, EV sales have grown over the past year: During the first half of 2016, about 64,000 new EVs hit the road in the US, an 18% increase over the same period in 2015.
Currently, there are more than 20 EV models from 12 different manufacturers available in the US. They include everything from affordable hatchbacks to versatile crossovers to premium luxury sedans. As the range of offerings continues to grow, EVs will hold an even wider share of the market.
All those EV owners need a place to charge their vehicles. As a business owner, you can benefit from this need by installing an EV charging station on your premises. Here are four benefits to installing EV charging stations:
1. Contribute to an Improvement in Air Quality
Polluted air comes with undesirable health consequences for our bodies and our planet. Any steps we can take as individuals and business owners to improve air quality will have benefits for all living beings and for the sustainability of life on the planet. The fact that EVs produce no emissions makes them a powerful tool in all efforts to improve air quality. By hosting a charging station at your business, you’re supporting a technology that will make this planet a cleaner place to live.
2. Gain Tax Advantages
Installing an EV charging station makes it easier for you to employ an EV for business use, since it provides you with a simple and convenient means of giving your company cars the charge they need to function. Owning the cars themselves has its own tax advantages: As part of the American Recovery and Reinvestment Act, buyers of EVs can benefit from a tax credit of $2,500 to $7,500 depending on the size of the battery.
Installing a charging station can also mean some tax advantages to your business. If your business installed an EV charging station between January 1, 2015, and December 31, 2016, it could qualify for a tax credit for 30% of the cost (up to $30,000).
3. Make a Statement to Employees about Company Values
Providing an EV charging station at business locations sends a message to employees about the values of the corporation: environmentally friendly, conscientious and forward-thinking. It encourages and empowers employees to hold the same values. Setting these corporate missions and following through with them sets an example for how a change to cleaner energy is possible and attainable if everyone does their part. This mission also sends a similar message to potential customers, improving your company’s overall brand reputation.
4. Attract and Retain High-Quality Employees
Adding EV charging stations to company buildings is a huge perk for employees—it encourages and eases their experience using EV vehicles. Think of the number of hours an employee parks in your lot. All those hours could be used for charging their car, which is a significant benefit, especially for employees who many not have a home charger. This perk can help reduce commute times in areas where EVs qualify for carpool lanes. All of this means that the addition of an EV charger can be a powerful bargaining chip in attracting and retaining talented employees. (In fact, in the US, 74% of Plug-in Electric Vehicle (PEV) owners express strong interest in workplace charging, and many businesses already see the value of installing charging stations.) As an added bonus, if your company’s premises service customers in-person, charging stations offer a special incentive for them to pay you a visit.
The Future Is Now
EVs represent cutting-edge technology and offer a solution to some of the world’s most pressing pollution problems. Installing an EV charging station on your premises brings both financial and environmental benefits, and it offers long-term advantages for your brand.
Warren Clarke is a consumer advice writer for CARFAX, a leading resource for used cars for sale. He particularly enjoys providing eco-friendly advice regarding car buying and ownership of electric vehicles.