GT Investments has partnered with EV Charging Manufacturers to help landlords bring their parking spaces into the 21st Century, with EV charging stations. By 2035, all new vehicles sold in the State of California will be zero emissions. Southern California Edison projects that by 2030, there will be over 7 million electric vehicles on the road, which would make up approximately 25% of all vehicles registered.
This presents a challenge and opportunity to building owners. Landlords who allow time to pass without a plan to outfit their parking spaces with charging infrastructure, stand to be left behind and lose out on what could be a very sticky amenity; not to mention, current rebates make now the time to act. On the other hand, savvy landlords who plan ahead will not only gain or retain tenants better, but may also monetize their parking spaces and drive increased value to their properties by improving their NOI.
The Federal government is backing a movement to fund EV charging stations in multifamily and commercial real estate, through a rebate program we can help clients with. To get started and to see if you qualify for funding, SCE and LADWP customers should click on the respective banner links above. SCE started with over $400 million in funding but it will run out or expire in 2025, whichever comes first. LADWP’s funding is TBD.