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More electric vehicle charging stations enhance family value


More electric vehicle charging stations enhance family value

Distribution of EVCS in California. Credit: Sustainable nature (2023). DOI: 10.1038/s41893-022-01058-5

As electric vehicles continue to accelerate in the market, a new study from the University of Maryland’s Center for Global Sustainability (CGS) shows that homebuyers are willing to pay premiums in areas where it’s easy to top up electronics. that into their car battery. plug-in rides.

Research led by Associate Professor of Public Policy Yueming ‘Lucy’ Qiu is published in Sustainable nature noticed that the availability of electricity increased mean of transportation Charge infrastructure (EV) has increased home values ​​by nearly 3.3% in California—increasing the value of the median home by $17,000. Demand for electric vehicles is growing worldwide, with S&P Global Mobility last month reporting vehicle sales of 83.6 million vehicles, up 5.6 percent from 2022.

The study, based on nearly 30 years of data from the state, was most enthusiastically received tramdemonstrate how electric vehicle charging infrastructure constitutes an on-demand amenity as well as an enabler in achieving a carbon-free US economy.

“Electrification of transportation is critical to achieving reductions in transportation sectorAmerica’s largest contribution to greenhouse gas emissionsQiu, director of strategic research initiatives at CGS, said: “This study clearly shows that consumers are willing and willing to pay more to be near nearby public charging stations. (but) … charging infrastructure must be online to meet rapidly growing demand.”

Research suggests that increased property values ​​following the installation of a charging station could encourage the private real estate sector to expand the availability of charging services. Additionally, it urges policymakers to ensure a fair distribution of public fees in low- and middle-income communities as the availability of electric vehicles expands and prices fall.

The new one the infrastructure The bill passed by Congress in 2021 provides $5 billion over five years to help states install electric vehicle chargers within the reach of travelers on interstate highways. The study says the opportunity for the public and private sectors to leverage these new funds and co-invest in rapid installations is enhanced with the new knowledge of this study that these investments are less risky. riskier for homebuyers looking for an accessible EV charger.

“Our new data shows the positive effects of public EV charging on the pocketbook of the average homeowner and provides additional impetus for developers to expand their investment in EV chargers.” said co-lead author Jing Liang, a postdoctoral research associate at Princeton University and an alumnus. assistant at CGS.

More information:
Jing Liang et al., Impact of the expansion of electric vehicle charging stations in California on the housing market, Sustainable nature (2023). DOI: 10.1038/s41893-022-01058-5

quote: Other EV charging stations increase home value (2023, Jan 30) retrieved Jan 30, 2023 from https://techxplore.com/news/2023-01-ev-stations-amp-home -values.html

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