In recent years, electric vehicles (EVs) have experienced a surge in demand. With the cost of owning an EV dropping, more people are opting to purchase them as their main form of transportation. And with the rise in EV ownership comes a need for charging options. For multifamily properties, this presents a unique opportunity to provide necessary services to tenants while increasing their property value. In this article, we’ll discuss what makes EV charging so attractive for multifamily properties and how they can maximize its potential.
How do they work?
EV charging stations work by supplying power to an electric vehicle through an external charger. The charger is connected to the vehicle through a cable, and the power is typically supplied at a higher voltage than what the car uses internally, so it can charge the battery faster.
There are two main types of EV chargers: Level 1 and Level 2. Level 1 chargers use the standard 120-volt outlet found in most homes, and can charge a car overnight. Level 2 chargers use a 240-volt outlet, like those used for washers and dryers, and can charge a car in a few hours.
The majority of public EV chargers are Level 2, as they can charge a car more quickly and are thus more convenient for drivers. However, Level 1 chargers are often sufficient for home use, as most people charge their cars overnight while they’re parked in their garage or driveway.
The installation of EV charging stations has become increasingly popular in recent years, as the number of electric vehicles on the road has grown. Many businesses, including multifamily properties, are installing EV charging stations to attract and accommodate customers who drive electric vehicles.
Installing an EV charger is typically fairly straightforward; the electrical infrastructure required is not significantly different from that needed for other common property amenities such as laundry facilities or parking garages. However, it’s important to consult with an experienced electrician to ensure that the charger is installed correctly and safely.
Why multifamily properties are increasingly adding EV charging stations
As the number of electric vehicles (EVs) on the road continues to grow, so does the demand for EV charging stations. Many multifamily property owners are adding EV charging stations to their buildings to meet the needs of their residents and attract new tenants.
There are several reasons why multifamily properties are increasingly adding EV charging stations. First, EVs are becoming more popular, with sales of EVs increasing by nearly 50% in the past year alone. This increase in demand is likely to continue as prices for EVs continue to drop and range anxiety decreases.
Second, offering EV charging stations can be a major selling point for multifamily properties. Many people who own EVs or are considering purchasing one want to live in a building that has EV charging stations. This amenity can help a property stand out from its competitors and attract new tenants.
Third, installing EV charging stations can help property owners save money on their energy bills. EVs typically use less electricity than traditional vehicles, so property owners who have EV charging stations can see significant savings on their energy costs.
Fourth, installing EV charging stations can help reduce pollution and improve air quality. EVs produce zero emissions, so they don’t contribute to air pollution like traditional gasoline-powered vehicles do. By installing EV charging stations, multifamily property owners can help make a positive impact on the environment.
Finally, many state and local governments offer incentives for property owners who install EV charging stations. These incentives can offset the cost of
The benefits of having an EV charger at your property
Electric vehicles are becoming increasingly popular, and with good reason. They’re more efficient than gas cars, emit far fewer pollutants, and are cheaper to operate. For many people, the only thing holding them back from making the switch to an EV is the lack of charging infrastructure.
However, that’s starting to change. More and more multifamily properties are installing EV chargers, meeting the growing demand from residents. Having an EV charger at your property comes with a number of benefits, both for you as the property owner and for your residents.
For one, it can help you attract and retain tenants. More and more people are looking for apartments that offer EV charging, so having chargers at your property can give you a competitive edge. Additionally, it can increase your property’s value – something that’s always a plus.
Installing EV chargers can also be a great marketing tool. You can use them to promote your property as being eco-friendly and forward-thinking – two qualities that appeal to many renters today. And finally, if you have commercial space at your property, EV chargers can attract businesses that are looking for a green option for their employees.