By Courtney Henry-Irwin
I recently led a lunch & learn, and part of my preparation was seeking out relevant stats to support investing in charging stations. I wanted to share some of the ones that stuck out, which confirm EVs aren’t going ANYWHERE:
Growing demand for EV charging:
Global EV sales surge: in 2023, global EV sales hit a record 10 million, up 55% from 2022. EVs are expected to account for 18% of total car sales by 2024.
EV adoption rates: the number of EVs on U.S. roads is projected to reach 26.4 million by 2030, compared to 2.6 million in 2021.
Consumer demand for charging:
81% of EV drivers expect access to charging at places where they park for extended periods (such as parking lots, multifamily developments, and workplaces).
EV charging as a competitive advantage:
Attracting tenants and visitors: 40% of drivers have said they’re more likely to choose a parking facility with EV chargers.
Increase in property value: properties with EV charging stations have seen rent premiums increase by 3-5%, and property values can increase by 7% in markets where EV adoption is strong.
Parking facilities with charging stations: facilities with EV charging tend to experience higher occupancy rates, especially in urban areas where EV drivers actively seek charging options.
Courtney Henry-Irwin is the Director of Partner Development for EVPassport. She can be reached at cirwin@evpassport.com.