Just about everyone has felt the pinch at the gas pump over the last few months, and electric vehicles are proving to be a wiser investment option for small business owners. Electric vehicles (EVs) contribute to cleaner air, reduced transportation costs and lower operating costs compared to diesel and petrol equivalents
Transitioning to electric vehicles can be a savvy move for small businesses. Charging station infrastructure is currently being developed and it appears a full adoption of electric vehicles is around the corner. With average gas prices going up and electric vehicle prices coming down, small business owners can also take advantage of this new business opportunity, installing charging stations in their parking spaces as more vehicle owners opt to go electric.
In addition, running a more energy-efficient vehicle can also help a business reduce its carbon footprint and, by doing so, boost its environment and corporate responsibility reputation. Many statewide organizations are also conducting studies that illustrate how electric vehicles will improve the quality of air and economy. There are also several financial incentives for businesses that operate electric vehicles, including tax and duty exemptions.
According to a study made by the Southwest Energy Efficiency Project, there are many benefits to take note of. If you are a small business owner interested in having a commercial electric fleet, consider these four ways electric vehicles will revolutionize transportation needs for your small business.
- Greater efficiency: Compared to gasoline-powered internal combustion engines, electric vehicles can travel the same distance using approximately 30% less energy.
- Locally produced energy source: Essentially all the petroleum and refined gasoline used in Arizona is imported, while electricity is produced almost entirely within the state.
- Reduced emissions: EVs have the potential to greatly reduce harmful tailpipe emissions compared to gasoline-powered vehicles.
- Reduced fueling costs: Because of their higher efficiency and the low cost of electricity compared to gasoline per unit of energy, electric vehicles can travel the same distance as a typical conventional vehicle at the cost equivalent of $1.20 per gallon.
As the energy and environmental benefits of electric vehicles continue to increase, older power plants will become retired and additional natural gas and renewable generation will be constructed. The true cost of the harmful effects of gasoline on our natural environment and quality of air as well as the geopolitical forces that effect its prices will convince many small business owners to make a greener choice. Supporting widespread adoption of electric vehicles is an important strategy for addressing a cleaner and greener economy.
Take a moment to explore the Going Green and Going Smart Program to learn how you can transform your small business by joining the #GreenBizAZ movement. This initiative aims to educate small-business owners in sustainable business practices for a cleaner, greener future in Arizona.
EDGAR RAFAEL OLIVO is a bilingual business educator, economic advisor, and contributor for several media outlets. He’s a nonprofit executive who is passionate about education. He is certified in finance and data analytics and holds a business degree from Arizona State University.
Para la versión en español de este artículo, haga clic aquí.
