Electric vehicles have seen a lot of promotion. CRE owners — whether of multifamily, retail, office, industrial, or any other variety — should consider the potential impact on tenant or customer demand. The more EVs that come to a location, the greater a need there eventually will be to provide the ability to charge them.

The reason is that there isn't an infrastructure of charging systems that can get a vehicle in and out as fast as a gas station with the typical transfer rate of an electric pump. But that view levels everything into a national "here's the trend for everyone" view. Averages are deceptive in doing data analysis and understanding what customers might want or need.

LendingTree had an interesting piece that looked at some of the numbers behind EV use and distribution. States differ by such considerations as the incentives they offer to buyers, number of charging ports per driver, and EV adoption rate. Put together, they create what the company referred to as EV infrastructure — which are more welcoming to potential buyers, have more adopters, and can offer a greater number of chargers for the vehicles.

Want to continue reading?
Become a Free ALM Digital Reader.

  • Unlimited access to GlobeSt and other free ALM publications
  • Access to 15 years of GlobeSt archives
  • Your choice of GlobeSt digital newsletters and over 70 others from popular sister publications
  • 1 free article* every 30 days across the ALM subscription network
  • Exclusive discounts on ALM events and publications

© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.