The Emerging Electric Vehicle Market on the East Coast: What This Means for Commercial Property Managers

 

Image CC licensed by: NCDOTCommunication

When it comes to electric vehicle (EV) adoption, most people tend to look towards Los Angeles, Seattle, and San Francisco as leaders in the emerging EV market. However, over the past few years, the number of EVs on the east coast has been steadily growing due to state subsidies, cheap electricity, and increasing public acceptance of clean transportation. In fact, Atlanta has now surpassed Seattle in the number of EVs on the road, putting the east coast city second in the US for EV registrations.

What has contributed to the rise in EV ownership in Atlanta?

In addition to growing public support for EVs, the state of Georgia has adopted some ambitious state subsidies and regulations to encourage growth in clean transportation. 

The state provides an average of $4,000 in income-tax credits for buying an electric car plus employer support for new EV recharging stations. To further spur adoption of clean transportation, EV drivers are given access to Atlanta’s high-occupancy car lanes. Plus it helps that Georgia Power Co. offers an off-peak, plug-in charging rate of 1.3 cents per kWh. 

Such a wide range of incentives has clearly worked in encouraging people to adopt electric vehicles. According to Fred Diaz, senior vice president of Nissan’s US sales and marketing operations, Georgia residents are saying “when you factor what you pay, and what I am saving, it is essentially a free car.”

So what do the latest EV numbers mean for commercial property owners or managers on the east coast?

It means there are opportunities to be had by providing the necessary infrastructure for the growing EV market. Residents on the east coast are adopting electric cars relatively quickly, which means there is growing demand for EV charging stations. And if you’re looking for a way to green your corporate image while possibly generating some revenue, a set of electric vehicle charging stations is the way to go. They can put your company on the EV map and provide customers with a valuable service while they visit your property.

If you’re a retailer, an office building manager, a commercial real-estate developer, or a hotel manager on the east coast, installing EV amenities is an effective way to capitalize on rising EV ownership in your area.

Joseph Tohill is a freelance writer and online communications specialist for organizations in the sustainability sector. He has a B.A. in Interdisciplinary Studies from the University of British Columbia and spent most of his academic career studying sustainable urban development; namely the interdisciplinary relationship between built form and natural environment.