Sales of electric vehicles hit a record high in the second quarter of this year, signaling that the transition to an all-electric lifestyle is accelerating. A study conducted by Cox Automotive showed that EV sales accounted for 5.6% of the total market, a significant jump from the 2.7% market share in the same period last year. With rising gasoline prices and new policies to promote industry growth, experts predict these numbers will rise rapidly.
One industry that is acutely aware of the upward trend is the new home market. Some of the nation’s top builders are racing to develop all-electric communities. Part of that is due to breakthrough innovation from California Title 24 energy code which requires all new homes to be built with solar power and other sustainable features. The code contains mandates for a percentage multi-family parking areas must be designated as EV-ready and all new homes must be equipped with 240-volt outlets, supporting EV chargers and solar cells. Many of these requirements are recent because Title 24 energy code continues to evolve to meet the Golden State’s ambitious climate goals.
In addition to the Title 24 energy code, a history vote speak California Air Resources Council to phase out the new gasoline-powered vehicles recently adopted in California. By 2026, the state projects that 35% of new vehicle sales will be electric and 68% by 2030. The policy is expected to spread to other US states and will be another amplifier for the adoption of electric vehicles .
These changes can be difficult to keep up with, and consulting with new homes and SunPower’s multifamily solar power professionals can help builders avoid costly pitfalls. The main key to success lies in the integration of these clean energy technologies during the initial design phase of the new development. The use of solar power, solar batteries and EV chargers in fundamental building designs can save builders money and time, while respecting the aesthetics of the structure.
For instance, mmultifamily developers that prepare the infrastructure necessary for the expansion of electric vehicles not only meet the code, but can also benefit from an additional revenue stream. Using smart EV charging and load management software, owners can recoup retail rate charges for EV charging (ranging on average from 0.25 to 0.40 cents per kilowatt-hour). These counters can even be offset by applying credits earned from the development’s solar generation. Between the rate charged to drivers and the solar credits applied to EV accounts, owners can generate profits and offer attractive equipment to tenants.
The process is simpler for new single-family home communities, but the idea of integrating electric vehicle charging into the design phase still holds true. Equipping homes with 240-volt outlets gives homeowners the freedom to use better, cleaner energy as they choose. Some of the nation’s top builders are paving the way for this adoption by building entire communities equipped with clean energy facilities, including solar panels, solar storage and EV chargers. In fact, The New Home Company has made SunPower’s clean energy solutions a standard feature in his Eureka Grove community in California. These houses include a SunPower Equinox®solar systemma 13 kWh SunVault™ system and Wall box Pulsar Plus EV Charger.
With incentives for builders and owners in the new Inflation Reduction Act legislation, electrification trends should only increase. The solar ITC has been restored to 30% and will be available for the next 10 years, along with a 30% tax credit for solar batteries. Eligible taxpayers can also benefit from a 30% tax credit on EV chargers. Additionally, there is a tax credit of up to $7,500 for qualified electric vehicle owners who meet specific requirements.
New home and multi-family developers who plan to charge their electric vehicles in their projects will get a head start as sales of electric vehicles increase. At SunPower, our clean energy professionals are happy to get you started on the right path with high-quality products and advice that can help you reduce project expenses. contact us and together we will help change the way our world is powered.
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