Electric vehicles (EV) have been a popular topic of discussion in British Columbia over the last few years. There has been a strong demand for EVs in B.C., but the supply has been low. Wait times for customers could be anywhere from a few months to a year. But that seems to be changing, and fast.
With the recent emission targets of the provincial government, British Columbians are being given a financial incentive to purchase EVs and sales are showing it. The provincial government offers credits of up to $5,000 for the purchase or lease of a new plug-in hybrid or battery EV, and $6,000 for a new hydrogen fuel cell EV.
The provincial government is giving these incentives to reduce emissions and reach the province’s 2030 and 2040 targets. Because of this rebate program, sales have over doubled in one year.
According to Fleetcarma, a clean-tech information and technology company, at the end of quarter three in 2017, there were 950 sales of EVs and in 2018, the end of quarter three saw 2,389 sales of EVs in B.C. In Canada, there were nearly 35,000 plug-in EVs sold by the end of September, 2018 - an increase of around 158% when compared to the same time in 2017.
B.C. Hydro has installed around 1,000 charging stations in B.C. and are planning on adding much more. There are apps such as PlugShare and ChargeHub that have been set up to make it easier for EV users to find the nearest charging station.
Manufacturers are being pushed harder to increase the supply of available and affordable EVs. As the push from British Columbians and the provincial government for more EVs on the road to reduce emissions increases, the next step is to solidify the infrastructure to support this demand.
Once the supply catches up to the demand there will need to be more charging stations and infrastructure in place to sustain the market.
With an increase in the amount of charging stations and an increase in the supply of affordable EVs, sales will continue to reach for the moon. Businesses should begin thinking about adding charging stations now for their customers or residents because of this huge push for EVs over the next several years.
British Columbians, and other Canadians, will be in need of this infrastructure more and more in the coming years. Keeping this in mind, it’s not a bad idea for business owners and commercial properties to plan ahead.