I should have thought of that
Don’t let this be you! We will help you think through the many factors that should guide your EV Charger decision.
Electric Vehicles (EV) are gaining traction in the country.
Edmunds analysts anticipate that 30 EVs from 21 brands will become available for sale this year, compared to 17 vehicles from 12 brands in 2020. Notably, this will be the first year that these offerings represent all three major vehicle categories: Consumers will have the choice among 11 cars, 13 SUVs and six trucks in 2021, whereas only 10 cars and seven SUVs were available last year.
Edmunds data shows that EV sales made up 1.9% of retail sales in the United States in 2020; Edmunds analysts expect this number to grow to 2.5% this year.
EV Charging as a Competitive Advantage
Along with the growth of EV sales is the demand for EV Charging Stations.
As a building owner, if you have not yet received requests for on-site electric vehicle charging, you soon will.
Hotels, motels, and other overnight accommodations will see increased demand as scores of travelers in electric cars travel throughout the country. Many will make their decision lodging decisions based on available EV Chargers.
Retail commercial property owners are constantly seeking new amenities that will bring new tenants or extend existing leases in this highly competitive market. Providing retail customers with access to EV charging gives them another reason to visit the retailer. Plus, forward-thinking retailers are considering loyalty programs to further drive business.
While the lion’s share of past EV sales were attributed to private homeowners, the next big wave of EV adoption is expected among residents of condos, apartment dwellers, homeowner associations, and other multifamily communities. EV chargers will soon become a standard amenity, necessary to attract and retain the most desirable residents.
Adding EV charging to commercial office buildings, factories and other workplaces not only helps promote the business as sustainable, but can attract progressive, high quality workers with a “perk” that most competing employers may not offer.
EV Charging Requires Planning
The decision to offer EV Charging is more complex than you might first think.
While the benefits of offering a solution may seem obvious (increased employee/tenant satisfaction, improved marketability of the property, and potential a new revenue source for building owners) the lack of established industry standards for charging units, and compliance with electric codes suggest the need for expert consultation/support. That’s where we can help.
Ownership. The first decision a property owner faces is who will own, operate, and maintain the charging station. In some instances, such as a condominium, the charging may be owned by the individual who owns the assigned parking space.
Electric Power Planning. Adding a single EV-Charger in a parking garage might not impact the building power profile, but what if there are a dozen or more chargers all pulling power at the same time? Another consideration is the cost of adding the charging unit to the building power grid. Will new conduit need to be run? For surface lots, will trenching be needed? Will a new or enhanced electrical service be required? Will metering be used to monitor, control and/or bill for electric power usage? All of these questions impact the final decision on your EV-Charger planning.
Location. Parking is at a premium at every multi-family property. Will your property’s EV-Chargers be located in a common area for communal use? Or will they be offered for installation in a specific parking stall for personal use? The answer will impact the design and related cost of your EV-Charging solution.
Safety. EV chargers are large consumers of electricity. Proper installation is paramount in order to protect the safety of the user. Other safety considerations include appropriate lighting for outdoor installations.
EV Charging + Solar. Owners of electric vehicles are doing their part to help preserve our planet through reduction of greenhouse gasses resulting from vehicle emissions. But when those gasses continue to be generated by electric utilities to provide the power needed by EVs, the net improvement to the environment is reduced. To offset this reduced impact, many building owners are turning to solar PV systems to generate sustainable electric power for their EV chargers as well as their entire building.
EV-Charging as a Profit Center. Many property owners are considering EV-Charging as a new income source. A wide variety of approaches can be used ranging from fixed monthly user fee for unlimited use, or other creative approaches. The price charged can be cost-recovery or cost-plus to generate a profit that provides an ROI on the unit, its maintenance, and most importantly, the electric power that they consume. Time-of-use must be considered because of electric demand-charges that could be incurred on the entire building energy use!
EV Charging Products
We sell and are authorized installers for these EV Chargers.
Time-of-use electric rates match demand with pricing. This pricing offers significant benefits to EV owners who charge their vehicles overnight (when demand-pricing rates are the lowest). The MN Department of Commerce created a summary of Electric Vehicle Incentives which can be viewed here (i have a PDF file that we should link that visitors can download.
Below are links to a number of local electric utility provider EV programs.
If you’re planning on purchasing an EV Charging Station in 2021, you’re in luck. Congress recently passed a retroactive federal tax credit including costs for EV charging infrastructure. The tax credit now expires on December 31, 2021. Receive a federal tax credit of 30% of the cost of purchasing and installing an EV charging station (to a maximum credit of $1,000 for residential installations and up to $30,000 for commercial installations). Previously, this federal tax credit expired on December 31, 2017, but is now extended through December 31, 2021.