Is hosting EV charging right for your commercial real estate property?
Earn revenue by hosting bp pulse chargers at your site
With the ongoing surge in EV ownership in the US, drivers need accessible, reliable charging infrastructure. For commercial real estate property owners, this presents a unique opportunity to attract customers and generate additional rental revenue by hosting EV chargers on site. As you consider whether hosting EV chargers might be right for your site, here are some factors to consider.
Location, location, location
The first step in assessing the feasibility of hosting EV charging at your retail property is evaluating its location. Ideal sites are typically located in highly populous areas, major urban centers, or retail destinations. Densely populated areas can be a good indicator that your charging station would be well utilized.
Additionally, property in and around major travel corridors can also indicate a good amount of EV driver visitation. For example, sites near airports, or highway locations along major interstates. These locations help ensure a steady flow of potential customers seeking EV charging services.
Lastly, ride-hail and car rental companies are increasingly making EVs a part of their strategy, creating demand from their drivers and customers for EV charging. If your site is in an area with rideshare or rental demand, it could be a great location to host EV charging.
Site characteristics
If you’ve assessed your real estate property and determined it might be an ideal location, it’s time to look at key site characteristics that can suggest it’s a good fit for EV charging. Key considerations to review include:
Size
Your property will need sufficient space to host enough EV chargers to accommodate demand, as well as parking space for the EVs that use them. At bp pulse, we look for an ideal size of 0.15 – 0.5 acres, with sufficient space to accommodate 12-24+ parking stalls.
Accessibility
Is your property ADA accessible to ensure the charging facilities would be accessible to all customers? Review the US Department of Energy guidelines to learn more.
Visibility
Having convenient and easy entrance and exit to your site, as well as strong visibility to the main road are helpful factors to attract customers to the charging station. Additionally, if you have space for wayfinding signage available, this could help direct customers to the EV chargers.
Availability
The site should be accessible 24/7 to accommodate customers’ charging needs at any time. If you’ve ever been on a long road trip and found yourself fueling up in the early hours of the morning, you know how significant this one is!
Convenience offering
Enhancing the overall customer experience on-site through amenities and services (such as food and drink options and restrooms) can further attract EV owners to your property.Some of these characteristics can be adjusted to make your site a better fit for EV charging, but they’re all significant to gauge the success of your site.
Power and permitting
Last but not least, and perhaps most significant, is assessing your current access to electrical power, and what your site is permitted for. Your site should have the necessary infrastructure to support EV charging, typically including a service requirement of 480 voltage with a minimum 2,000-amp capacity.
Before proceeding with EV charging installation, you’ll need to obtain necessary approvals for construction. This involves coordinating with local utilities and obtaining permits to build the charging facilities.
As a bp pulse EV charging site host, navigating the complexities of securing power and permits is something that our team would handle.
Hosting EV charging at your real estate property can potentially open up new revenue opportunities by attracting new customers to your site. By carefully evaluating your property’s location, site characteristics, and power capabilities, you can determine whether hosting EV charging is the right fit for your property.
