BY Bill Pierce

Electric vehicle (EV) charging installation was one of the fastest growing industries in 2023. Billions of dollars of federal funding are electrifying America’s transportation sector. From small passenger vehicles, all the way up to semi-trucks, American transportation is going through a transformative change, the likes of which has never been seen before.

It’s much bigger than when horse-drawn carriages were replaced by gas-powered vehicles. The business opportunities involved, and the resulting profits, are absolutely astounding.

American EV Sales Passed the Historic 1.2 Million Sold Mark in 2023, a Significant Milestone.

Tesla Motors, Inc, is an American success story. In 2023, The Tesla Model Y sold 1.23 million units, making it the best-selling car in the world. Tesla’s investors have made billions in profits.The company accomplished this in a short 21 years, a tiny fraction of the lifespan of automotive giants such as Ford and GM.

The U.S. Department of Energy (DOE) National Renewable Energy Laboratory estimated that the U.S. will need 28 million charging ports by 2030 for the 33 million light-duty electric vehicles expected to be on the roads by then.

This is causing an EV charging gold rush across the country. New companies are entering space in great numbers, at breakneck speed. Installing EV charging is very technical and very difficult. There are a whole lot of problems that can arise. In most cases, the installations go smoothly.

A company in Louisiana made a huge mistake when planning the installation of an electric vehicle (EV) charging station. It was one small, low-cost, but vital service that was overlooked. The installation went just fine, the property was outfitted with beautifully designed, well-functioning EV chargers, all set and ready to begin making great profits for the property owners. Then the unthinkable happened.

An Unhappy Neighbor

In the Louisiana case, a private residence was next to the stations. The owner of the property didn’t want the stations that close to their house, and a costly lawsuit ensued. Due to the layout of the properties, the homeowner was able to block access to the stations, causing a loss of revenue to the station owner and making the problem even more costly. What was the one small, low-cost, but vital service that was overlooked? A simple property title report. The lawsuit was eventually settled through arbitration, but it was a long and costly process.

The Great Value of a Title Property Report

A title property report shows the history of a piece of property, including information about past ownership, liens, and any other claims or encumbrances on the property. It is typically ordered by a buyer or lender as part of the process of purchasing or financing a home, and it is also used in business property deals. 

When the property was examined in the planning stages of installing the EV charging, this title report would have revealed the problem with the neighbor and thus avoided it, deeming the property unsuitable. Title reports are recommended by experts for any kind of use of business property. You’ll save significant headaches by using this simple, low-cost service.

Punctual Abstract specializes in EV charging property title projects. It is a leading nationwide source for abstracts, title evidence, and comprehensive national title production services. Based in Harvey, LA, and celebrating 30 years in business, the company is your one point of contact for residential and commercial land title data and energy sector searches.

The result was something every project manager must avoid. The vital service that was overlooked applies to any business project involving property, not just EV charging.