Before we answer what tools are available for building managers to implement EV (Electric Vehicles) charging stations for their communities, we must first answer why they would want to do this in the first place. After all, sales of EVs in the US hit a big slump in 2020. However, there are strong reasons to believe that this is yet another incident that has made this year exceptional. Two of these reasons are that: 1. oil prices hit historic lows and 2. the Trump administration rolled back vehicle fuel standards. Should either these factors diminish, it would not be surprising to see annual growth in this market return closer to 2017 levels, where they increased by a whopping 80%.
For many of those seeking homes in Multi Dwelling Units (MDUs), having easily accessible EV charging is a necessity. In a recent survey conducted by LVL2 Charging, 3 out of 4 respondents in the DC metro area indicated that they would “strongly consider a plug-in for their next vehicle”.
For those early adopters who already own an EV, charging infrastructure is a core amenity. As an owner or manager of an MDU, how can you position yourself to serve the interest of prospective tenants and buyers given the starts and stops of the EV market?
The answer is a scalable EV charging system. Such systems have the following advantages of older EV charging solutions for MDUs:
- They allow additional charging stations to be cost effectively installed to meet shifts in demand
- Sophisticated payment platforms can assign charging fees directly to the individual users of the stations for more effective cost management
- There are full installation and maintenance options that have no upfront cost
The three flavors* of EV stations are:
Full Purchase: the property owns the system outright and pays for maintenance
Classic Charger Subscription: the property pays a monthly subscription and receives free maintenance and technical support over a 10-year term
Smart Charger Subscription: Same as the above but also includes 24/7 performance monitoring and monetization software that allows charges to be flexibly assigned to users
If you’d like to see whether your building could benefit from a scalable EV charging system, please reach out to us in the form below and we can provide a complimentary analysis on a tailored solution for your property.
*Please don’t actually lick EV charging stations. We’re talking metaphysical flavors here, folks