Electric vehicle (EV) charging and battery storage are types of energy sources that landowners can lease a section of their land for to generate passive income. Vehicle charging has become much more popular with the increase of electric vehicle sales. This has led to the increase of need for EV charging stations. Battery energy storage is used to store large amounts of energy and will be used in the future.
EV charging refers to the process of recharging an electric vehicle’s battery. Electric vehicles use batteries to power their electric motors. These batteries need to be recharged occasionally to ensure that the vehicle can continue to operate. EV charging can take place at a variety of locations, including public charging stations, workplace charging stations, and home charging stations.
Battery storage refers to the use of rechargeable batteries to store electrical renewable energy. This stored energy can then be used to power electrical devices or systems when needed. Battery storage systems are becoming increasingly popular for a variety of applications. Such as grid-scale energy storage, home energy storage, and EV charging.
Process of EV Charging and Battery Storage
The electric vehicle is plugged into a charging station.
The charging station communicates with the vehicle's battery management system to determine the state of charge and other parameters.
The charging station supplies electrical power to the vehicle's battery to recharge it.
The battery management system monitors the charging process. Then it adjusts the charging rate as needed to ensure that the battery is charged safely and improves reliability.
Electrical power is generated from a power source, such as a solar panel or wind turbine.
The electrical power is stored in a battery storage system.
When electrical power is needed, the battery storage system releases the stored energy to power electrical devices or systems.
The battery management system keeps track of the charging process and modifies the charge rate to guarantee the battery is charged in a secure and effective way.
Landowners: Benefit from EV Charging and Battery Storage
Additional Revenue Stream
By leasing land for EV charging and battery storage facilities, landowners can generate an additional revenue stream. They can receive regular payments from the facility operator in exchange for the use of their land. This can provide a reliable source of income and diversify their revenue streams.
By leasing land for EV charging and battery storage facilities, landowners can contribute to the growth of clean energy infrastructure. This can help reduce greenhouse gas emissions and support the transition to a more sustainable energy system. Landowners can benefit from the positive environmental impact of these facilities and take pride in their contribution to the fight against climate change.
Increased Property Value
Having EV charging and battery storage facilities on their land can increase the value of a property. This is because these facilities are becoming increasingly valuable. As more people switch to electric vehicles and demand for clean energy infrastructure grows. This can make the property more attractive to potential buyers or tenants.
Leasing land for EV charging and battery storage facilities can contribute to economic development in the local area. These facilities can create jobs, attract new businesses and visitors, and support the growth of the local economy. This can benefit landowners by increasing demand for their property and potentially increasing property values.
Leases for EV Charging and Battery Storage
Landowners with land that have access to transmission/distribution lines and a substation are in a good position to have a battery storage or EV charging lease! A plus for EV charging areas, the land should be near road access or next to major highways. The total amount of acreage needed for EV chargers can be as small as half an acre. For battery storage, 2 acres minimum is needed but some battery storage sites can take up to 40 acres for a large storage site. Energy storage systems like battery storage leases are typically between 20-30 years with options to extend or upgrade those systems. The same thing for EV charging infrastructures, those leases also last between 20-30 years. EV charging and battery storage lease options can provide landowners with a range of benefits. Such as additional revenue streams, environmental benefits, increased property value, and economic development. By exploring these options, landowners can find new opportunities to generate income and contribute to the growth of clean energy infrastructure.