Electric Vehicles, Sustainability, and Private Developments
Written by Greenspot’s Development Team
Integrating sustainability into a privately owned building should no longer be an afterthought. As global climate change continues to impact cities all across the United States and internationally, private building owners and landlords must do their part to contribute to building a sustainable future. This push from the private sector is needed as recent reports indicate that 530 major global cities, representing a combined population of 517 million people, reported that major climate hazards such as heatwaves and flooding are increasing dramatically in their respective areas. From a public sector lense, cities understand the need for private building owners to adopt sustainability. New York City’s “Green New Deal” is just one example of what is to come in the future. The Green New Deal which recently passed mid-2019 requires all buildings above 25,000 sq ft to cut 40% of their emissions by 2030. In order for private building owners to ensure they are ready for similar regulatory changes in their cities and also improve to improve their building’s emission footprint, incremental changes now can make a meaningful difference. So what is the best sustainability improvement for a private building owner?
The answer is, there is no one solution. However, one good direction to explore which has become increasingly more lucrative for private building owners is installing electric vehicle charging stations for their residents. Transportation accounts for roughly 35% of greenhouse gas emissions (GHG) in the United States. These facts are logical, given that individuals in the United States are married to their vehicle and up until recently, almost all vehicles on the road had internal combustion engines (ICE) that emit harmful GHGs. However, in recent years, electric vehicles have taken control of the personal vehicle market, in large part due to three reasons:
(1) the cost of electric vehicles dropping while vehicle options increasing;
(2) electric vehicle charging stations popping up everywhere; and
(3) individuals, especially millennials demanding change!
This change is already visible, as currently there are roughly 1.3 million electric vehicles on the road in the United States which grew by 81% since 2017. Beyond that, the 6th best selling vehicle in the United States during quarter 3 of 2019 was the Tesla Model 3, an all-electric sedan built for the masses.
By offering electric vehicle charging, private building owners will increasingly attract more residents who own/adopt electric vehicles while also improving their building’s sustainability footprint simply by offering electric vehicle charging as an amenity or added service. Furthermore, with the cost of electric vehicle charging stations dropping in price and added state/city and utility-specific rebates for private building owners to install electric vehicle charging stations, the out-of-pocket cost is minimal or sometimes even $0!
The way that we live in cities is rapidly changing. The addition of sustainable mobility solutions can position private building owners at the forefront of this worldwide shift towards sustainability while also attracting customers who are seeking out homes or commercial buildings with these perks. And, a shameless plug, but with the addition of players such as Greenspot, who exclusively focus on public and private development of electric vehicle charging stations as a lifestyle, it has never been easier!