Are EV Chargers the Next Hot Home Appliance?
Are EV Chargers the Next Hot Home Appliance?
Viridis EnergyHave you heard the buzz? Word on Sustainability Street is: electric vehicle chargers are going to be popping up everywhere over the next decade! You may have heard some recent news about state-by-state EV mandates - Massachusetts, Connecticut, Rhode Island, Maryland, Vermont, Maine, New York, New Jersey, California, and Oregon have all declared that they will be gradually phasing out the sale of gas-powered vehicles and replacing them with electric ones over the next 10-20 years. As such, the market for EV chargers is expected to increase dramatically in the coming years! According to research by Deloitte, an international industry consulting firm,
“The global EV forecast is for a compound annual growth rate of 29% over the next 10 years with total EV sales growing from 6.6 million in 2021 to 11.2 million in 2025 and reaching 31.1 million by 2030”.
Naturally, with so many more electric cars hitting the streets in the near future, our communities will need more EV chargers! The ultimate goal of transitioning from gas-guzzlers to chargeable cars is to reduce our dependence on fossil fuels, so we will have to focus on building up our renewable energy infrastructure simultaneously as we deploy new fleets of green transportation. Many property owners are choosing to install solar energy on their buildings at the same time as EV chargers, to offset the increase in electricity demand added to the grid by millions of new cars that need power. This is a perfect combination, not only because it further reduces our world’s reliance on carbon-based energy sources, but also because it maximizes the financial benefits of going green. By bundling solar with EV charging stations, the tax incentives double, making updating one’s property with energy efficient appliances a no-brainer!
Right now, the two biggest demanders of solar plus EV charging stations are luxury apartment residents, and corporate buildings. While EV pricing is becoming more affordable every day, these cars are still most popular among wealthier Americans, so it’s understandable that folks living in high-end dwellings would be the first to push for more charging availability. In terms of corporate use, many commercial spaces, such as large-scale parking garages, are already equipped with three-phase electrical panels. This makes adding chargers very simple, as three-phase panels can easily accommodate the addition of single-phase EV chargers without the need for a step-down transformer to handle the load. As such, installing EV chargers on commercial buildings can be inexpensive and simple, making them a great investment for the property owner and an excellent benefit to those who use the space.
Viridis Energy is fully equipped to install electric vehicle charging stations, whether they are to be used in a residential or commercial application.
Our sales professionals can help clients navigate the process of learning how solar plus EV chargers work and how they can offset expenses and emissions, as well as leveraging federal, state and municipal incentives. EV’s are going to continue to grow in popularity and value as policy-based goals and increasing affordability guide everyone towards adopting them. We look forward to helping you complete a whole-home solution for saving money and energy!
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