Five reasons to transition your business to electric vehicles (EV)
With the move to electrified transportation becoming more inevitable, we dive into the reasons why the transition is a fantastic opportunity for businesses and public organizations.
In the U.S., the transport sector accounts for the largest proportion of carbon emissions (29%), which many experts believe is accelerating climate change. As we continue to make progress in decarbonizing the electricity supply, transportation is the next big sustainability challenge. Organizations can make a huge contribution to reducing the threat of climate change by transitioning to electric fleet vehicles, providing at-work charging for employees or turning parking lots into EV-friendly spaces.
However, the range of benefits for business is larger than only having a positive impact on the environment. Here we review five of the most important reasons why organizations should be considering, and implementing, electric vehicles.
1. Reduce costs and improve productivity
Transitioning to EVs can help businesses reduce the total cost of ownership of fleets, transportation networks and public transport fleets. By reducing fuel costs and taking advantage of government incentives and tax benefits, organizations can see significant savings. This is particularly true when taking advantage of low-cost distributed energy solutions. With a 13.4% drop in the price of EVs in the last 12 months, many fleet vehicles already have a load and utilization profile that makes EVs an increasingly viable and cost-efficient option.
Maintenance costs are reduced as EVs are inherently more reliable than internal combustion engine (ICE) vehicles due to fewer mechanical parts prone to failure and often provide better data to enable more proactive maintenance. In addition, implementing ‘at work’ charging, where charging happens while employees are at work, can improve productivity and fleet drivers always start the day fully-charged - enhancing savings across your whole organization.
2. Enhance your environmental credentials
In order to become a more sustainable organization, reducing your carbon footprint is essential. Into the next decade, meeting environmental regulations or self-imposed goals while acting on the demands of customers and employees will mean going beyond the important, but ‘low hanging fruit’ carbon reduction measures, such as thermostat controls and LED lightbulbs.
Offering EV charging infrastructure and transitioning fleets to EVs provide businesses and public bodies with a credible role in reducing global greenhouse gas emissions and inspiring wider EV adoption across society. And this role is increasingly being recognized as important for organizations to engage with. Our 2019 Distributed Energy Future Trends report highlighted that ‘Being socially and environmentally responsible’ is now ranked #3 in terms of business’ main priorities for the next 3 years, up from #6 in 2017.
Read our electric vehicle whitepaper to learn more about the benefits of transitioning to EV
3. Generate new sources of value
Electric vehicle charging points need not be viewed as a cost to your business, but a potential source of value too, in several ways. Directly, businesses that install on-site generation and storage infrastructure to support EV charging can generate revenue through energy optimization strategies, while also taking advantage of supply-side incentives. And with emerging vehicle to grid technology, these opportunities can only grow.
Indirectly the benefits can be even greater. Implementing charging infrastructure can enable consumer-facing businesses – particularly retailers and leisure companies – to monetize their EV facilities to create a new income stream. In addition, research shows that on-site charging is also likely to encourage customers to spend longer in-store as they wait for their car to recharge, resulting in higher per-customer spends.
4. Increase employee satisfaction and retention
Improved health and safety through better local air quality and less exposure to harmful NO2 and other pollutants is only one of the benefits for employees. Installing EV infrastructure such as smart-charging can increase driver confidence through convenient access to on-site charging facilities, encouraging uptake of EVs not only for fleets, but for person use as well.
Enhanced experience for fleet drivers with better route planning to reduce driving times lowers commute costs, reduces risk of breakdowns, and manages range anxiety. Due to lower number of component parts compared with internal combustion engine vehicles, EVs breakdown less, keeping drivers on the road for longer.
Demonstrating a commitment to reduce your organizations carbon footprint from daily commute or fleet has been shown to have a positive impact on employee engagement, improve your attractiveness as an employer and enhance retention. and lower commute costs.
Find out how our solution can make sustainable transport a reality for your organization.
5. Enhance your organizations reputation
Regulations are constantly shifting, but by switching to EVs your organization reduces the risk of not being complaint with increasingly stringent government regulations, protecting your reputation. 30% of fleet managers say they are considering EV adoption due to concerns over compliance with laws and regulations.
With consumers and employees increasingly focused on the environmental impact of the companies they buy from and work for, organizations switching to EVs can improve brand reputation by demonstrating green leadership and stronger sustainability credentials - improving customer loyalty and creating greater appeal to potential new recruits and better employee engagement.
How Centrica Business Solutions can help
Centrica Business Solutions’ integrated package of charging infrastructure and software, together with on-site energy solutions provides the expert support required to capitalize on the opportunity to move to emissions-free transport. We can provide the end-to-end support organizations need to use EV to benefit both the environment and their competiveness.
By combining our global expertise and technological expertise, our new EV enablement solution provides a single supplier solution for the electrification of entire fleets, and charging facilities at workplaces, bus depots, and in public spaces. We can provide complete life-cycle infrastructure and energy support – from charger procurement to optimization services.