How to generate revenue when charging your electric vehicle
Imagine you’re at the helm of a sizable fleet operation, navigating the bustling streets of British Columbia. You’ve been contemplating a switch to electric vehicles (EVs) for both environmental and economic reasons. Here’s a scenario that might just tip the scales:
The Transition to EVs
You decide to transition your fleet to EVs, a move that aligns with your commitment to sustainability. Each of your delivery vans, now electric, consumes around 13,500 kWh of electricity annually. This switch represents a significant reduction in carbon emissions compared to traditional internal combustion engines.
Tapping into Carbon Credits
In this new electric era, your fleet can start generating carbon credits in each Canadian province under Canada’s Federal Clean Fuel Regulations (CFR) and in British Columbia under BC’s Low Carbon Fuel Standard (LCFS). Also in the US credits can be generated: specifically in California, Oregon and Washington state, with planning underway in the North Eastern United States.
Each kilowatt-hour of electricity used for charging your EVs translates into credits because you’re replacing fossil fuels with cleaner energy. In BC, the rewards are particularly enticing: you can leverage the unique opportunity to stack federal and provincial credits, effectively doubling your potential revenue. For every kWh, you could earn up to 50 cents. This rate varies across provinces, as shown in the map below with Ontario and Quebec following BC in terms of reward, offering around 19 cents per kWh.
As a fleet manager, this shift to EVs doesn’t just lower your carbon footprint; it also opens a new revenue stream. This additional income can further offset the costs of transitioning to and operating EVs, making the investment more financially viable.
The Role of 7Gen
In navigating this transition, a partner like 7Gen can be invaluable. We specialize in helping fleets integrate EVs and maximize returns through carbon credit and other incentive programs. We handle everything from tracking energy consumption to managing the intricacies of credit registration and monetization.
Why This Matters to You
This hypothetical scenario isn’t just a story; it’s a tangible opportunity. As fleet operators and managers, embracing EVs can lead to significant environmental contributions while also unlocking new financial potential through carbon credits. This is a chance to lead in sustainable practices while also benefiting your bottom line.
Considering the Next Steps
If this scenario resonates with you, it’s worth exploring further. Get in touch now to find out how 7Gen can help you consider how transitioning to EVs could fit into your operational model and turn your EV charging activities into a revenue stream.