Managing ESG goals for real estate operators with EV charging

 

Tenants and owners of commercial real estate have shown a strong interest in achieving environmental, social, and governance (ESG) goals in recent years. Recent surveys show that almost 60 to 70% of commercial property owners have disclosed their ESG goals, and this number is expected to rise in light of EU commission proposal for all new real estate properties to be zero-emission by 2030. Whereas all new public buildings must be zero-emission already as of 2027. (Corporate Sustainability Reporting Directive (CSR Directive) 2014/95/EU

This new requirement basically means that buildings must consume little energy, be powered by renewables as far as possible, emit no on-site carbon emissions from fossil fuels and must indicate their global warming potential based on their whole-life cycle emissions on their Energy Performance Certificate.

One of the ways to achieve ESG goals for owners of commercial and private real estate is to install EV charging stations. This way it significantly lowers carbon emissions from a tradition gas operated car and pushes people towards modern green energy technology and reduces carbon emission footprint.

 

Smart Charging’s Value to a Commercial Property

There are numerous advantages of installing smart EV chargers near an establishment to the owners of that particular property.

• Attraction

As the transition from old school gas/fuel powered vehicles to EVs becomes more common in the coming years, companies/businesses that are already equipped with such technology will be able to provide the service more quickly and easily, giving them an advantage over future competitors.

 

• Multifamily: These units are arguably the easiest for real estate investors looking to add value to their portfolio. EV drivers prefer to charge at home, but those who live in apartment buildings currently have less access to EV chargers.

 

• Offices and Commercial properties: Installing EV chargers in such places not only increases the value of the property but also encourages employees to go green. It makes it easier for them to charge their EVs at work, most of them are free of cost depending on the company policy.

 

• Hotels and Resorts: Such facility at a holiday resort or a hotel can be one of the deciding factors for a customer, profiting the establishment in terms of revenue generated and increase in value of the establishment itself.

  

• Boost in ESG goals

Local utility companies can use EV charging stations to help them meet their carbon emission targets more quickly and easily. Many businesses have begun to include EV charging stations in their public ESG goals because they are the most effective way to achieve the decarbonization goal.

 

• Increase in Portfolio value

Increasing net asset value through attracting better tenants, improving ESG performance, and limiting portfolio risk. While these certifications increase asset value, avoiding compliance fines reduces operational costs.

 

 

The Smart EV Charging Advantage for Commercial Properties

Commercial real estate companies want a flexible and adaptable charging infrastructure to capitalize on the value of electric vehicle charging. Smart charging solutions offer property managers IoT charging platforms like Juice Net, giving them real-time access to how their chargers are performing, statistics on their performance over time, and the ability to regulate charging speeds and pumps, and limit overall energy consumption. This not only simplifies emission reporting but also opens up new revenue streams for the portfolio

 

Retrofits vs. New Builds

The majority of smart EV chargers will be installed in pre-existing buildings, where there are still lots of low-cost options. Properties that can include EV supply equipment (EVSE) in new development will reap the most benefits at the lowest cost.

Building the EVSE into the initial architecture of a building seems to be more cost effective and less work as no teardown of existing structure would have to take place hence, saving both time and money. According to a survey taken in San Francisco it is approximately 75% more cheaper to integrate EVSE in a new buildout than in a pre-existing property.

 

Conclusion

Smart EV chargers are not only the future but also the way forward for building towards a greener and safer environment. They will indefinitely add value to the property they are installed at and hence cannot be considered as a bad investment.