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If you’re a business owner, chances are you have employees who currently own or are considering buying an all-battery electric car or a plug-in hybrid. If not now, they certainly will in the future. You have also likely noticed a shift in consumer sentiment towards choosing businesses that employ environmentally sustainable business practices. Workplace electric vehicle (EV) charging is one of many ways to promote sustainability in your organization and accommodate employees who are already driving electric. Still not convinced? We’ve got some data to prove it.
Convenience and Productivity
Introducing charging stations at the workplace gives employees who drive EVs the dual benefit of convenience and productivity. What may be considered an amenity now will eventually be a necessity, as more employees need to charge their vehicles during work hours. Providing charging on-site means they won’t need to seek out charging stations elsewhere.
Attracting and Retaining Talent
As competition in the job market has increased, it’s harder for businesses to distinguish themselves as desirable employers. Providing charging stations is a way to differentiate your business; it’s a notable perk for prospective employees. A 2022 survey by Deloitte reveals that the climate crisis is a top concern for Gen Zs and millennials, and that two out of five turned down a job because it didn’t align with their personal values. On top of that, younger workers who were satisfied with their employers’ environmental impact were more likely to stay with the company for more than five years. Providing charging stations shows a company’s commitment to sustainability and addresses the growing demand for EV charging stations, appealing to a diverse workforce.
This growing environmental awareness is apparent in the rising adoption rate of EVs in New England. The ISO-NE 2023 Transportation Electrification Forecast predicts that the number of EVs on the road will be 32 times greater in ten years (a 14% increase from 2022’s prediction). With an increase in both the adoption rate of EVs and a preference for environmentally conscious employers, workplace charging is becoming a more powerful recruitment and retention tool.
Financial Incentives
Attracting and maintaining a talented workforce and reducing turnover rates have clear financial benefits for business owners and their employees. Businesses generally have lower energy prices and can extend these cost benefits to employees, offering them a more affordable charging solution at work than at home. Workplace charging can also be added to a benefits package.
One of ReVision’s Solar Designers, Erik Mitchell, drives an EV and uses ReVision’s charging stations frequently: “One of the big benefits is I don’t have to rely fully on charging at home. Being able to charge while I am at the office is convenient and helpful.”
Reducing employee turnover leads to big cost savings. On average, 3.8% of employees leave their jobs each month. (This means that for a company of 500 employees, 19 people are leaving every month!) The average cost-per-hire in 2023 was $4,700. The graph below shows the cost savings an organization with 500 employees could expect with a reduction in monthly employee turnover. By reducing employee turnover by half a percent, this 500-person business could save $141,000 in one year!
Because of the environmental advantages that EVs offer, many lawmakers are working to increase the number of EVs around the country to help meet climate goals. Currently, the Federal government offers a tax credit for up to 30% of the installation costs of charging stations. New England states offer a wide variety of additional financial incentives, including more tax credits, grants, and rebates. These incentives help alleviate the upfront costs associated with the installation of EV charging stations, making it a more realistic investment for companies. Check out our breakdown of the different incentives offered by each state here.
Supporting Corporate Sustainability
Installing EV chargers helps businesses lower their carbon emissions, enabling them to achieve their broader corporate social responsibility (CSR) goals. These emissions reductions earn points for sustainable building certifications like the LEED, STARS, and Green Globes certifications, which are tangible demonstrations of a firm’s dedication to combating climate change. Workplace charging can also improve a company’s environmental impact area of their B Corp score, another demonstration of a commitment to CSR. Highlighting these efforts in annual reports and marketing initiatives can bolster a company’s brand image and reputation.
Trying to figure out where to begin? ReVision Energy’s EV team has years of experience navigating the various options and incentives for workplace charging, and we can help you with any of these steps:
1. Measure your employees’ interest.
Surveying your workforce can be an excellent way to gauge if your current employees would be interested in workplace charging.
2. Evaluate your building’s capability to support EV charging.
Talk to an electrician to get information about your building’s current electrical capacity.
3. Explore funding opportunities.
Government grants, partnerships with EV charging providers, or allocations from corporate sustainability budgets can be promising avenues for securing the necessary resources.
4. Research your options.
Figure out which EV charging station (Level 1, Level 2, or DCFC) makes the most sense for your business. According to the U.S. Department of Energy, Level 2 chargers are the most common charging stations, allowing for multiple EVs to be charged throughout the day.
5. Reach out to us for help.
The shift towards electric vehicles is accelerating, and businesses need to anticipate and prepare for this transition. Get in touch with ReVision’s EV team to see how you can get started and access the benefits of workplace charging.
