As electric vehicle (EV) adoption accelerates across New Jersey, the state faces a critical need for expanded and reliable charging infrastructure. According to a 2024 report in the Asbury Park Press, New Jersey’s EV registrations surpassed 154,000 by December 2023, a significant jump from approximately 91,000 the previous year.
Despite this surge, the state ranked near the bottom nationwide in terms of public charging stations available per thousand electric vehicles. For commercial property owners, real estate professionals, and business decision-makers, these figures highlight both a challenge and an opportunity in the evolving marketplace.
The Growing Demand for EV Charging Infrastructure
New Jersey’s ongoing transition toward zero-emission transportation is supported by mandates that will gradually increase the percentage of zero-emission vehicles for sale, ultimately aiming for 100% zero-emission sales by 2035. As EV use becomes more prevalent, convenient and dependable charging options are key. Beyond private homeowners, commercial fleets, logistics hubs, retail centers, and multi-unit residential properties all require accessible EV charging solutions to meet tenant and customer expectations.
Without easy access to charging—particularly for those without home chargers—businesses and properties can find themselves at a disadvantage. Real estate professionals who address these gaps have an opportunity to enhance their property values, attract and retain environmentally conscious tenants, and stay ahead of regulatory changes.
Leveraging Solar Power to Meet Charging Needs
New Jersey’s pursuit of EV adoption aligns with a broader push for sustainability. According to recent industry trends, commercial solar projects have demonstrated substantial cost reductions, making solar energy a highly competitive alternative to traditional power sources. By pairing commercial solar installations with EV charging stations, property owners can harness renewable energy to fuel their charging infrastructure more sustainably and cost-effectively.
The Federal Bipartisan Infrastructure Law of 2023 allocates $7.5 billion nationwide for EV charging infrastructure, with $104 million dedicated to New Jersey. This substantial investment underscores governmental support for EV adoption and provides a strong incentive for property owners to integrate solar-powered EV charging stations now, setting their properties apart in a competitive environment.
Opportunities for Commercial Properties and Real Estate Professionals
For owners and managers of commercial real estate, integrating commercial solar and EV charging solutions offers multiple advantages:
- Enhanced Property Value and Market Appeal:
Incorporating EV charging and solar infrastructure boosts property attractiveness, appealing to forward-thinking tenants and customers who value environmental responsibility. - Long-Term Cost Stability:
Solar-powered charging reduces exposure to fluctuating grid electricity prices. By integrating commercial solar arrays with EV chargers, properties can maintain stable, predictable energy expenses over the long term. - Regulatory Compliance and Future-Proofing:
As New Jersey’s zero-emission vehicle mandates and building codes evolve, properties equipped with solar and EV charging systems will have a head start in meeting or exceeding regulations, reducing the need for costly upgrades later. - Aligning with Sustainability Initiatives:
Embracing renewable energy and clean transportation infrastructure aligns with corporate sustainability goals and can attract investors who prioritize environmental stewardship.
How Ilumina Energy Can Help
Ilumina Energy, a New Jersey-based solar development and procurement firm, specializes in guiding businesses and property owners through the process of implementing commercial solar solutions combined with integrated EV charging stations. Offering assistance with site evaluation, system design, and connections to trusted installation partners, Ilumina Energy ensures clients receive optimal results while avoiding the complexity of managing multiple vendors.
With in-depth knowledge of state incentives, regulations, and market trends, Ilumina Energy helps commercial real estate professionals navigate the technical, financial, and logistical aspects of solar and EV charging projects. This comprehensive approach ensures that clients benefit from state-of-the-art renewable energy systems tailored to their budget, compliance requirements, and long-term sustainability objectives.
Invest in solar energy and EV charging infrastructure
As EV use expands and the call for cleaner, more efficient transportation systems grows, New Jersey properties that invest in solar energy and EV charging infrastructure will be well-positioned for future success. By taking proactive steps today, real estate professionals and commercial property owners can enhance their property’s appeal, mitigate long-term costs, and respond effectively to shifting regulatory demands.
Through strategic partnerships and informed decision-making, these stakeholders can transform their assets into future-focused, sustainable properties. With guidance from companies like Ilumina Energy, commercial property owners have the opportunity to secure cost-effective, reliable, and environmentally responsible energy solutions—ensuring they remain competitive and prepared for the rapidly evolving demands of a more electrified future.