The Key to Becoming Carbon Negative

We hear a lot about the desire for carbon neutrality these days, and while that’s noble indeed, we at EVCS have set our sights on even loftier goals. Our mission is to become carbon negative, meaning not only have we reduced carbon emissions to negligible levels, but we have offset more carbon than we contribute to the environment through techniques like avoidance, sequestration and carbon capture.

So, how does one go about achieving such a monumental task?

The first step is committing to power-based 100% on renewables like solar, wind and geothermal. One of the biggest criticisms leveled at the EV industry is the notion that we’re simply trading one environmentally harmful source for another – the vehicle for the power plant. And while it’s true that worldwide carbon negativity won’t be fully realized until renewables become mainstream replacements for fossil fuels, individual companies like EVCS can facilitate the trend by committing to use only renewable energy to power its network.

While making the commitment certainly is critical, executing is a whole different story. The current lack of widespread grids powered by renewables means we have to purchase our electricity from renewable energy producers through credit offsets, even as the actual power may still be flowing (for now) from a traditional power grid. While this comes with added costs, it also means we’re investing in companies that share our mission of a healthier planet and are integral in “greening” a key part of the energy supply chain.

This setup has many advantages. It allows us to essentially utilize 100% renewable energy for every charger in our network regardless of where it’s installed and retain top-notch fast-charging capabilities without the need for expensive and complex renewable energy generation systems. Moreover, once a network operator like EVCS receives accreditation from its governing body for using 100% renewable energy to power operations, it’s able to issue its own carbon credits, which can in turn be sold to offset the increased costs of purchasing renewable energy.

Bolstering our argument for the use of renewables to achieve carbon negativity are studied by numerous groups and organizations that have documented the benefits. While the total number of carbon offsets issued is relatively small worldwide (about 250 million tons worth were issued in 2020), the market is growing significantly as renewable energy sources grow, with nearly three times as many offsets issued in 2020 as in 2015, according to opentaps.org. Moreover, analysts with German bank Berenberg believe that current trends are leading to a global carbon offset market of some $200 billion by 2050.

On average, offset prices stand at about $4 per metric ton, which some fear are too low to provide companies with sufficient financial incentive to reduce emissions. However, a joint study published last year by University College London and Trove Research concluded, according to GreenBiz, that “the current surplus of carbon offset credits could be quickly eroded, with demand expected to increase fivefold or even tenfold over the next decade as companies seek to deliver on their net zero emissions pledges. As such, prices could rise to $50 per metric ton by 2030.”

All of this is to say that the momentum for achieving carbon negativity through the use of renewables is accelerating, with EVCS already serving as a key leader and motivator of the movement in the EV space. More importantly, none of these changes have adversely affected the quality, service and cost savings we offer our customers. Quite the contrary. Our expansion into viable new frontiers like this has allowed us the opportunity to demonstrate how high-quality/low-cost service and responsible, sustainable mobility can coexist perfectly.

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Installation of the Month (June 2021): Hyatt Place Riverside/Downtown

The ability to travel is something many of us take for granted. Our Interstate Highway System allows us to freely traverse state boundaries – to go wherever we choose whenever we choose – from the snow-capped Colorado Rockies to the soupy Everglade swamplands to the historic lighthouses of coastal New England. However, EV drivers are more acutely aware of their travel limitations because many areas of the country have yet to adopt pro-electric infrastructure policies, often leaving them with few ground-travel options other than ICE vehicles. We knew getting more Americans to embrace the electric revolution would require buy-in from the hospitality industry. As such, much of our focus has gone toward hotels that, by serving as site hosts for charging stations, can help kickstart that ubiquitous access required to convert many EV holdouts.

Wall Street Journal Piece Brings Up Questions… And We Answer

Stephen Wilmot’s recent article in the Wall Street Journal, “Investors Look for an EV Charge,” debates the merits of investing in EV infrastructure, admitting that while chargers likely make for better investments than cars, the sector still holds many potential pitfalls that should be considered before jumping in. While that may be true, many of the examples backing up this assertion cite the business models of the largest EV installers in the country while failing to consider what less visible but faster-growing companies like EVCS are doing to mitigate such risks. Below are a few quotes from the article and our thoughts on them, including how we’re different.

Commentary on EV Industry Profitability Claims

In a recent Driving.ca article titled “EV-Charging Industry is Doing Everything Except Making Money,” author David R. Baker makes a compelling argument that the EV infrastructure sector is a revenue desert, essentially incapable of generating enough cash flow to sustain profitability due to a lack of interest from motorists. “The dilemma boils down to demand,” he states, before adding that “lots of people still driving gasoline-powered cars won’t consider going electric until they see charging stations widely deployed.”

Installation of the Month (May 2021): LADOT Lot 656

The Los Angeles Department of Transportation (LADOT) notes on its website that ICE vehicles are one of the city’s top contributors to air pollution, accounting for 19% of all greenhouse gas emissions, before proclaiming, “We can do better… We’re investing in public transit, testing new technology, and adopting mobility innovations for a cleaner environment and brighter future.” At first, it might just sound like flowery rhetoric, but we can personally attest to that commitment. Starting in 2019, LADOT partnered with us to install DCFCs at 57 city-owned lots, with almost 30% of those installations now completed. This alliance has been integral in promoting our goal of zero-emission mobility in the City of Angels by facilitating greater access to infrastructure.

Addressing Pain Points in Creating EV Infrastructure

A recent GovTech.com article titled “How Biden Plans to Build 500 EV Charging Stations” discusses the President’s goals for creating a nationwide network of 500,000 such installations by 2030. While it does a smart job laying out many of the pain points we face in facilitating EV adoption, the mention of solutions was far less prevalent, and ones that were mentioned seemed speculative or tenuous. However, over the last three years, EVCS has already taken the lead in addressing many of these challenge areas, allowing us to dominate the installation market across the West Coast.