Driving Towards Sustainability: How Electric Vehicles Are Introducing Sustainability and Cost Savings to Fleet Owners

Electric vehicles have become increasingly prominent in recent years, particularly in commercial industries where regulations and financial incentives have accelerated their integration. As fleets across the country adopt electric vehicles, many fleet owners have seen a clear improvement in savings and operational efficiency, and have adopted other sustainable development goals that have further improved their operations.

This article explores how sustainable transport initiatives can improve efficiency in fleets, and how the reduced costs of sustainable technologies can compound into significant financial savings.

Cost Savings From Sustainable Transport Initiatives

In recent years, a growing number of states have implemented regulations, mandates, or financial incentives to push the widespread adoption of electric vehicles in commercial and industrial sectors. These regulations, including California’s Advanced Clean Fleets mandate and the Low Carbon Fuel Standard, have accelerated the uptake of electric vehicles, primarily across the West Coast. The adoption of electric vehicles has introduced fleet owners to the many financial and operational benefits of sustainable transport initiatives.

Many fleet owners who adopt electric vehicles and electric material handling equipment (MHE) quickly see improvements in their operations and savings, from reduced fuel costs, lower maintenance costs, and safer working conditions for drivers. As fleet owners discover the benefits of electric and low-carbon vehicles, many have expanded their sustainability initiatives to other aspects of their operations, improving efficiency and earning savings along the way.

Taking Advantage of Financial Incentives for Sustainable Electric Vehicles

A major incentive for the transition to electric vehicles has been the Low Carbon Fuel Standard and other similar programs, which offer fleet owners cash rebates for their reduced carbon emissions through the use of electric vehicles. These programs are growing in popularity across the US, and have successfully improved the adoption of electric vehicles—as well as the availability of charging stations—across the West Coast and Canada.

Learn more about Low Carbon Fuel Standards and see if your state offers benefits for switching to electric: Which States Have a Low Carbon Fuel Standard?

In addition to switching to electric vehicles, many states offer incentives for switching to renewable energy, primarily through the installation of solar panels. These typically come in the form of tax credits for businesses, which can help offset the costs of solar panel installations. Additionally, solar panels reduce electricity bills by an average of 75% and create energy independence, so your fleet won’t be as susceptible to grid-wide power outages.

Sustainability Cost Savings From Improved Technology

man in hard hat and buildings - sustainability cost savingsMost companies are already aware of the benefits of smaller sustainable investments, like investing in LED lights that improve energy savings and last longer than incandescent bulbs. However, a growing number of fleet owners are expanding their initiatives to include other technological improvements, such as technologies that improve energy efficiency and provide real-time analytics. These types of installations can give fleet owners a better understanding of their energy consumption, and can often provide automated adjustments to energy usage that optimizes savings.

Learn more about Smart Charging Technologies’ monitoring technologies.

Savings That Add Up

While many sustainable initiatives can be expensive undertakings, the long-term savings can alleviate those investments, and oftentimes meet their return on investment quickly. The combination of electric vehicles, improved efficiency with IoT technologies, and small operational improvements like LED lighting not only reduces operational costs but also positions companies as environmentally responsible entities. These compounding impacts foster positive public relations, attracting customers and partners who value sustainability, thereby expanding business opportunities while simultaneously reducing overhead costs.

Learn more about the financial benefits of sustainable transport initiatives and how Smart Charging Technologies can help you save: 6 Reasons to Work with Smart Charging Technologies.

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SCT specializes in developing IoT monitoring technology and is the largest aggregator of LCFS & CFP energy credits.

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