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20-03 Residential Carshare Study for the New York Metropolitan Area

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20-03 Residential Carshare Study for the New York Metropolitan Area Residential Carshare Study for the New York Metropolitan Area Final Report | Report Number 20-03 | February 2020 NYSERDA’s Promise to New Yorkers: NYSERDA provides resources, expertise, and objective information so New Yorkers can make confident, informed energy decisions. Mission Statement: Advance innovative energy solutions in ways that improve New York’s economy and environment. Vision Statement: Serve as a catalyst – advancing energy innovation, technology, and investment; transforming New York’s economy; and empowering people to choose clean and efficient energy as part of their everyday lives. Residential Carshare Study for the New York Metropolitan Area Final Report Prepared for: New York State Energy Research and Development Authority New York, NY Robyn Marquis, PhD Project Manager, Clean Transportation Prepared by: WXY Architecture + Urban Design New York, NY Adam Lubinsky, PhD, AICP Managing Principal Amina Hassen Associate Raphael Laude Urban Planner with Barretto Bay Strategies New York, NY Paul Lipson Principal Luis Torres Senior Consultant and Empire Clean Cities NYSERDA Report 20-03 NYSERDA Contract 114627 February 2020 Notice This report was prepared by WXY Architecture + Urban Design, Barretto Bay Strategies, and Empire Clean Cities in the course of performing work contracted for and sponsored by the New York State Energy Research and Development Authority (hereafter the "Sponsors"). The opinions expressed in this report do not necessarily reflect those of the Sponsors or the State of New York, and reference to any specific product, service, process, or method does not constitute an implied or expressed recommendation or endorsement of it. Further, the Sponsors, the State of New York, and the contractor make no warranties or representations, expressed or implied, as to the fitness for particular purpose or merchantability of any product, apparatus, or service, or the usefulness, completeness, or accuracy of any processes, methods, or other information contained, described, disclosed, or referred to in this report. The Sponsors, the State of New York, and the contractor make no representation that the use of any product, apparatus, process, method, or other information will not infringe privately owned rights and will assume no liability for any loss, injury, or damage resulting from, or occurring in connection with, the use of information contained, described, disclosed, or referred to in this report. NYSERDA makes every effort to provide accurate information about copyright owners and related matters in the reports we publish. Contractors are responsible for determining and satisfying copyright or other use restrictions regarding the content of the reports that they write, in compliance with NYSERDA’s policies and federal law. If you are the copyright owner and believe a NYSERDA report has not properly attributed your work to you or has used it without permission, please email [email protected] Information contained in this document, such as web page addresses, are current at the time of publication. Preferred Citation New York State Energy Research and Development Authority (NYSERDA). 2019. “Residential Carshare Study for New York Metropolitan Area,” NYSERDA Report Number 20-03. Prepared by WXY Architecture + Urban Design, Barretto Bay Strategies and Empire Clean Cities. nyserda.ny.gov/publications ii Abstract Residential Carshare–New York Metro examines the feasibility of a carshare program business model that deploys electric vehicles (EV) among the vehicle fleet mix, with deployment in different residential markets, including low- and moderate- income (LMI) housing developments. “Residential carshare” differs from many current market offerings in that it proposes carshare vehicles at multifamily residences for the exclusive use of building residents, ensuring greater certainty to building residents of vehicle availability. Examining New Rochelle, White Plains, and Yonkers as target areas for residential carshare, this study employed the expertise of project partners, market analysis, and a pro forma to assess the feasibility of the business model. The study finds that the convergence of three emerging trendlines—new multifamily development, evolving personal mobility preferences, and generational transition—has positioned Westchester County as an ideal testbed for EV carsharing. Nevertheless, a cost premium associated with EV deployment, largely untested demand among LMI consumers, and the limitations placed on the size of the market due to exclusivity of use all conspire against a rapid return on investment and a clear path to profitability. To achieve success, a clear and compelling alignment of interests between city government, the development community, and carsharing organizations will be required. Keywords Residential carshare, carshare, car share, car-share, electric vehicles, EV, ZEV, BEV, PHEV, municipal fleet, mobility, shared mobility, equitable mobility, sustainable transportation, sustainability, carbon, service, development, real estate, housing, pro forma, business model, policy, New York, New York State, Westchester County, Westchester, Yonkers, New Rochelle, White Plains iii Table of Contents Notice .........................................................................................................................................ii Preferred Citation ......................................................................................................................ii Abstract ....................................................................................................................................iii Keywords ..................................................................................................................................iii List of Figures ........................................................................................................................viii List of Tables ..........................................................................................................................viii Acronyms and Abbreviations .................................................................................................ix Executive Summary ............................................................................................................ES -1 1 Introduction ........................................................................................................................1 1.1 The Shared Mobility Landscape ............................................................................................... 1 1.2 What is Carshare?.................................................................................................................... 2 1.3 Benefits of Carshare ................................................................................................................. 3 1.3.1 Reduced Car Ownership ................................................................................................... 3 1.3.2 Reduce Vehicle Miles Traveled and Greenhouse Gas Emissions ...................................... 3 1.3.3 Transportation Equity ........................................................................................................ 3 1.3.4 Cost Savings .................................................................................................................... 4 1.3.5 Appeal to Shifting Consumer Preferences ......................................................................... 4 1.4 Obstacles for Shared Mobility ................................................................................................... 5 1.5 The Residential Carshare Opportunity ...................................................................................... 5 2 Westchester County ..........................................................................................................7 2.1 Population Growth and Density ................................................................................................ 9 2.1.1 Carshare and the Built Environment ................................................................................ 11 2.2 Demographic Trends .............................................................................................................. 12 2.2.1 Median Income ............................................................................................................... 12 2.2.2 Education ....................................................................................................................... 14 2.2.3 Diversity ......................................................................................................................... 16 2.3 Responding to Demographic Trends....................................................................................... 17 2.3.1 Baby Boomers ................................................................................................................ 17 2.3.2 Millennials ...................................................................................................................... 19 2.4 Mobility and the Built Environment .......................................................................................... 20 2.4.1 Car Ownership ............................................................................................................... 20 2.4.2 Electric Vehicles and Charging Infrastructure .................................................................. 23 2.4.3 Public Transit .................................................................................................................
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