Enticing tax credits, expanded car model options, and high gas prices are all contributing to an increased number of consumers making the switch from a gas vehicle to an EV. In fact, a recent Consumer Reports survey shows that more than a third of Americans would “definitely” or “seriously” consider buying or leasing an EV if they were to buy a car today. For property owners and managers, that means the time to plan for EV charging infrastructure is now. Depending on your property type and the needs of your residents, tenants and guests, here are a few things to consider.
Most Charging Happens at Home and Work
Studies show the vast majority of EV charging happens on the “bookends” of a driver’s day, or periods where a car will already be parked for prolonged amounts of time. Since these long stretches happen while drivers are sleeping or working, it follows that plugging in at home and at the office has major advantages. This ensures they wake up or return to a fully charged car without disruptions to their daily schedules. For multifamily and commercial properties, this means the availability of reliable EV chargers is not just a nice-to-have, but a vital factor for retaining and attracting residents and tenants.
Faster Isn’t Always Better
When it comes to choosing EV charging stations, many property owners assume the main priority is how fast a station can fully charge an EV. But faster isn’t always better. Since most charging takes place at home and work – locations where drivers dwell for hours at a time – fast charging solutions may not always be necessary for a property. At buildings where cars are parked for several hours at a time, such as multifamily communities and office properties, stations with longer charge times are often more cost effective and align better with the everyday needs of drivers. In these cases, property owners can consider Level 2 chargers, which utilize a 240-volt power source and fully charge a vehicle over several hours.
Fast Charging Has a Place in the Mix
Depending on the car and battery, Level 3 charging stations, or DC fast chargers (DCFC), can fully charge a vehicle in about 30 minutes. While Level 3 chargers may not always be necessary at “bookend” locations, it doesn’t mean they don’t have their place. For commercial spaces with retail tenants, the speedier charge time offered by these stations could be a better fit for their visitors’ on-the-go needs. Fast chargers are also a great addition to properties along major transportation corridors, allowing people to power up cars quickly while on road trips or other lengthy commutes.
Ideally, a property’s EV infrastructure strategy should match the needs of its residents, tenants and guests. For some, this may mean Level 3 charging hubs for maximized convenience. For others, it means a mix of charging options to accommodate a wider range of needs. Finding the right balance can make all the difference in efficiently meeting the demands of the ever-growing EV driver population.
Rebates and Incentives are Available to Offset Costs
The good news for properties is many rebate and incentive programs are available to fund the purchase and installation of EV charging stations around the country. The application process can be complex and lengthy, but the work is well worth the reward – thanks to federal, state and local programs (including incentives from utility providers), qualifying properties can have most or all of their costs for EV charger projects covered. Like similar programs of the past, these rebates and incentives won’t last forever. Taking advantage of these incentives early and quickly is the best route for multifamily and commercial property owners that qualify.
Chargie Can Streamline the Process
Developing an effective EV infrastructure plan and navigating the world of rebates and incentives doesn’t have to be difficult. Providers like Chargie make the process easy and turnkey by designing and installing the chargers, maximizing available incentives and handling ongoing maintenance and operation of the stations. Chargie’s 99% network uptime ensures chargers are available and reliable when drivers need them most, and its Customer Care team offers 24/7 technical and account support.
- Learn more about Chargie.
- Learn about rebates and incentives for property owners installing EV charging stations.
- Reach out to receive a free estimate for your properties.
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This article is supported by Chargie.
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