| | OCTOBER 20258By Grant Ervin, Vice President of External Affairs and Sustainability, S&B USA Construction - Fay - Fay SoutheastEV CHARGING AT HOMEThe rapid growth in ownership of electric vehicles is requiring the real estate and property technology space to take the activities in electric mobility into deep consideration. Though real estate investors and owners are not transportation experts, it is crucial for them to become aware of the basic needs of the accelerating EV market. At the macro level, three main trends are occurring in the motorized transportation sector influencing real estate investors,1) automation (we've all heard of autonomous vehicles or "robot cars", 2) shared platforms (think of Uber or Lyft), and 3)Electrification ( think of your boss's Tesla or eco-conscious college roommate's Nissan Leaf). For the sake of this conversation, we want to focus on the transition from internal combustion engines (your gas or diesel vehicles) to fully electric vehicles. The electrification transition creates several technical challenges and opportunities that commercial and residential property owners need to consider, local governments can help support, and solutions providers can help accelerate. According to the U.S. Department of Energy's Office of Energy Efficiency and Renewable Energy, eighty-five percent of all charging will occur at home. While recent federal investments like the Inflation Reduction Act (IRA) and Infrastructure Investment and Jobs Act (IIJA) are working to support the needs of corridor charging and commercial availability, there is a growing need for owners of multi-unit developments (i.e., apartments, condos, and co-operatives) to enhance their properties by supporting the "at home" charging needs of their residents. What are the benefits of supporting EV charging on your property? 1. Staying Competitive. As the market of EV ownership grows, operators will look for living arrangements that support the needs of their mobility choices. The "in-building" market will quickly move from an attractive amenity to a "must-have" for many tenants. 2. Attending to Sustainability Needs. Sustainability in this case is not simply the environmental benefit of zero tailpipe emissions, but also considerations such as obtaining IN MY OPINION
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