Are you a property manager? Here’s what you need to know about EV charging
19 Nov 2018
Electric vehicle charging stations are popping up in parking lots across the United States and Canada. From office buildings, to shopping malls, downtown curbsides, and every other public parking area—EV chargers are becoming an in-demand amenity. But why are EV chargers becoming so popular now? What type of property managers are installing charging stations? And what’s at stake for property owners and managers who don’t join this trend?
The switch to electric
There is another trend driving the popularity of charging stations: EV adoption. In recent years, electric vehicle adoption around the world has grown at an exponential rate. In 2013, there were 175,000 plug-in electric vehicles on the road in North America. Just 5 years later, this number is well above 1 million vehicles. And this trend is not slowing down. In the next 5 years, millions more plug-in electric vehicles will hit the roads in the United States and Canada.
For the past hundred years, the majority of vehicles have been fuelled by gasoline. Electric vehicles operate very similar to gasoline vehicles. They can be sedans, SUVs, or sports cars. They come in every shape, size, and colour. They are manufactured by established brands like Nissan, KIA, Toyota, Hyundai, Chevrolet, Ford, and Volkswagen (as well as newcomers like Tesla). But instead of using on gasoline for fuel, they use electricity stored in their batteries.
There are many advantages to electricity as a fuel: it is cheaper, cleaner, and more widely available than petrol. In fact, every plug-in electric vehicle can charge using the same 120 V wall socket that you use to charge your smartphone. But EVs have much larger batteries than smartphones, and so charging at 120 V takes much longer. This is why property managers have started installing 240 V charging stations. These “Level 2” chargers let drivers refuel their EVs in a couple of hours, instead of staying plugged in all night.
Benefits of offering EV charging
Five years ago, property managers who invested in EV charging were early adopters. Today, installing EV charging has become a mainstream trend. Unlike petrol stations, all EV charging stations need is a connection to your building’s existing electrical source. This has opened up opportunities for all sorts of properties to offer EV charging as an amenity or as part of their business model.
Some of the benefits to property managers of deploying EV chargers include:
- Meeting the requests of employees, tenants, residents, and visitors who drive EVs
- Attracting new customers and tenants
- Embracing sustainability and new technology
- Earning from 3 to 5 LEED points for installing charging stations
- In some cases, generating a profit from pay-per-use revenues
Property managers who do not consider the EV charging needs of their properties risk falling behind the trend, losing potential customers or tenants, and paying a higher price in the future to catch up with demand.
How to get started
It is easy for property managers to overlook the EV charging opportunity. After all, you already have a full plate increasing revenue, keeping tenants happy, and complying with regulations. Luckily, the increased demand for EV charging has increased the selection of charging stations and services available to help property managers.
ChargeLab is an expert in turnkey EV charging solutions for property managers. We do not sell a single brand of charging station or single solution: we help property managers make an honest assessment of their EV charging needs and then fill those needs with the best products available on the market. Working directly with ChargeLab or working with one of our trusted partners, you can be confident you will find a tailored solution for your needs.
To get started, request a free consultation today.