As the world becomes increasingly eco-conscious, the demand for electric vehicles (EV) has skyrocketed and will continue to grow over the coming decade. Not only are traditional fuel sources becoming more expensive, but federal and local governments have introduced tax incentives for consumers to purchase electric vehicles over traditional vehicles. As such, the demand for EV charging stations is also increasing, with more and more charging stations being constructed across the United States frequently.
Key Takeaways:
Growing Demand: The demand for electric vehicles and charging stations is increasing due to eco-conscious trends and government incentives.
EV Charging Stations: These stations connect electric vehicles to electricity sources and can have advanced features like smart metering.
Land Requirements: Small properties, even as little as half an acre, can be suitable for EV charging sites.
Ideal Locations: Proximity to highways, parking areas, and electrical infrastructure (within 2 miles of a substation) enhances suitability.
Incentives: Extra incentives exist for developing charging stations on Tribal Lands and EV Corridors.
LandGate Services: LandGate offers free property reports to help landowners assess their land's potential for EV charging sites, including an EV Site Score.
What are EV Charging Stations?
An electric vehicle charging station is a device that links an electric vehicle to an electricity source for recharging electric cars, neighborhood electric vehicles, and plug-in hybrids. Certain charging stations offer advanced functionalities like smart metering, cellular capability, and network connectivity, while others provide more basic features.
EV Charging Land Requirements
Similar to battery storage sites, EV Charging sites do not require large properties. However, location and proximity to electrical infrastructure are crucial.
Acreage
Properties as small as just half of an acre can be suitable for an EV Charging site.
Location
The location of your land plays a crucial role in determining its eligibility for EV charging. Properties located near highways and places where people park their vehicles for extended amounts of time (movie theaters, restaurants, golf courses, shopping centers) are ideal for EV Charging sites. There are extra incentives available for EV Charging companies to develop charging stations on Tribal Lands and on EV Corridors, making these properties even more attractive to developers.
Electrical Infrastructure
The closer that a property is to transmission lines and substations, the better a property could work for an EV charging site. Ideally, the property will be located within 2 miles of a substation.
Lease or Sell Your Land for EV Charging with LandGate
Energy developers are actively looking to lease and purchase properties for EV Charging sites across the country. Are you interested in making money on your land? LandGate's free property report provides free lease and sale estimates along with valuable data-driven insights to help you determine the best potential opportunity for your land.
Although the property report does not provide EV Charging lease estimates yet, it does provide information about a property's proximity to electrical infrastructure, buildable acreage, and more to help you determine your property's suitability for an EV Charging site. The property report provides property owners with an EV Site Score that ranges from 0-100- the higher this number, the better the property could potentially work for an EV Charging site.
