Soon, “Do you have EV charging stations?” is going to become a standard question when hunting for apartments. After all, why would electric vehicle owners want to live somewhere that doesn’t allow them to charge their vehicles? It’s kind of an important thing when you own one. Especially since 80% of EV charging is done at home, usually overnight. But, how can you get started with multifamily EV charging solutions? The short answer is; it depends on the building. When installing EV charging infrastructure, the building owners will have to consider the building’s parking configuration and its electrical capabilities. They will have to consult with electrical engineers, their local government, and anyone with an ownership stake in the property.
Multi-family charging stations
Multi-Unit Residential Buildings (MURBs) will obviously require multi-family charging stations, which can accommodate more than one EV at the same time. If a MURB manager opts to use a charging network, like the Blink Network, they can enjoy advanced features, such as billing and payment collection, remote monitoring, automatic updating, online reservation systems, mobile app integration, display screens for advertising and promotion, detailed charging station reports, and user access controls. Network charging stations provide “smart charging” solutions, meaning the stations calculate the maximum available power on a circuit and distribute that power evenly between all the stations connected to it. For example, if there is a maximum of 120A of power available on a circuit and three EVs are connected, each vehicle will be distributed 40A of power so their charging doesn’t trip the breaker. In addition to managing the circuit load, smart charging stations can also monitor the building’s demand so the chargers do not exceed peak electricity demand.
What does the apartment gain from having charging stations?
Being able to provide EV charging benefits more than just EV-owning residents. The property owners also benefit.
Tenant attraction & retention
Someone who owns an EV is much more likely to choose an apartment or condo that provides them with a place to charge, even if they have to pay a bit more for it.
Branding
The property owners also look forward-thinking and environmentally conscious, which helps with their branding. Beyond perception, providing EV charging infrastructure can gain a building valuable points or credits for certifications from environmental assessment organizations like the Building Owners and Managers Association (BOMA) and Leadership in Energy and Environmental Design (LEED). These certifications may help a building receive certain tax credits.
Alternate revenue streams
The chargers may also become another revenue stream for the building owners. Building owners may choose to charge EV owners for the use of the vehicle chargers.
Increased energy management
Installing EV chargers means delving into the energy management of a building or complex. This often leads to property managers being more cognizant of where energy is being used and potential cost savings opportunities. It may also prompt them to look into using more renewable forms of energy to manage electricity usage more effectively.
Future-proofing
While providing EV charging stations is seen as a perk at the moment, within a decade or so, they’re going to become more of a necessity. As electric vehicle ownership continues to grow, it will become crucial for apartment buildings and other multi-family complexes to meet the demand for charging stations on their premises. Catch us at Innovating Commerce Serving Communities (ICSC) Las Vegas 2022 from May 22-24 at the Las Vegas Convention Center.