As of now, about 4.7% of multifamily residential buildings nationwide offer EV charging stations as an amenity to residents, according to data shared with Multifamily Dive by StorageCafe. At the metro level, San Jose has the highest concentration of residential buildings with EV chargers — 10.3% of the total number of rentals, according to Yardi Matrix data from the StorageCafe report. Seattle’s 7.3% concentration gives it the second-highest share of rentals with EVs.

However, the availability of EV charging infrastructure varies widely depending on geographic location. Out of the top 10 U.S. metros for electric-vehicle friendliness, California metros make up more than half of the spots — while Miami is the only Southern or East Coast city in the top 10.

EV Charging Stations at Multifamily – The Biggest Challenge To The Electric Vehicle Charging Industry

Electric vehicles are fast becoming the future of transportation, with more and more people embracing this eco-friendly alternative to traditional gasoline-powered cars. However, as electric vehicles gain momentum in popularity, there is one major obstacle that stands in the way: charging infrastructure. Yes, while electric cars boast impressive mileage ranges, finding a reliable and convenient place to charge them remains a challenge. In this blog post, we’ll explore the biggest challenge facing the electric vehicle charging industry and what can be done to overcome it. So buckle up and let’s dive right in!

Electric vehicle charging at multifamily developments

As electric vehicle ownership continues to increase, the need for charging infrastructure at multifamily developments has become more pressing. While many single-family homes have easy access to an outlet for charging, residents of multifamily dwellings often have to rely on common area chargers, which can be few and far between. This can be a major obstacle to EV adoption, as range anxiety is already a significant concern for many potential buyers.

There are a few different ways that property managers can provide EV charging access to residents. One option is to install Level 2 chargers in common areas, such as parking garages or carports. This can be a costly investment upfront, but it will pay off in the long run as more and more residents adopt EVs. Another option is to offer membership in a third-party charging network, which gives residents access to a larger network of chargers throughout the city or region. This can be a more affordable option for property managers, but it may not be as convenient for residents.

The best solution for providing EV charging access at multifamily developments will likely vary depending on the specific needs and resources of each individual property. However, with the right planning and execution, electric vehicle charging can be made available to all residents, encouraging wider adoption of this clean and efficient transportation option.

Utility incentive programs for multifamily developments

Utility incentive programs for multifamily developments are designed to encourage the use of electric vehicles (EVs) by offering financial incentives to property owners and managers. These programs typically offer a rebate or credit for the installation of EV charging stations, and may also offer reduced rates for electricity used to charge EVs.

Multifamily developments are an important target for utility incentive programs because they represent a significant portion of the potential market for EVs. According to a report from the National Renewable Energy Laboratory, apartments and condos account for nearly one-third of all households in the United States.

There are a number of different utility incentive programs currently available, each with its own eligibility requirements and benefits. For example, Southern California Edison offers a $500 rebate for the installation of Level 2 EV chargers in multifamily residences, while Duke Energy offers a $250 rebate for Level 2 chargers and $1000 for direct current fast chargers (DCFC).

Utility incentive programs can play a significant role in increasing the adoption of EVs, but they are just one piece of the puzzle. Multifamily property owners and managers should also consider other factors such as the availability of parking spaces, the needs of their tenants, and the overall cost of installing and operating EV charging stations.

On top of state level rebates and incentives, the Inflation Reduction Act, passed by Congress earlier this year, reinstated a tax credit of up to 30% of the cost for chargers nationwide.

The rise of electric vehicles

In 2022, EVs were nearly 16% of new light-duty vehicle sales in California, according to data PwC provided. In the 12 other states that have adopted the California zero-emission vehicle standard, EV sales exceeded 9%.

Overall in the United States, the have been 3,296,189 EV sold as of April 10, 2023. California sales accounted for 1,399,913 of those sales which is 42% of electric vehicle sales in the country. California has 80,027 installed EV chargers.

Electric vehicles are on the rise, and with good reason. They’re better for the environment and can save you money on fuel costs. But as electric vehicles become more popular, the demand for charging stations is increasing. And that’s where the biggest challenge to the electric vehicle charging industry lies.

There simply aren’t enough charging stations to meet the demand, and that is even more stark in the multifamily segment. This means that drivers of electric vehicles often have to wait in line to charge their cars, which can be frustrating and time-consuming. It also means that there are often not enough charging stations available when and where they’re needed, which can lead to range anxiety among drivers.

The challenges of electric vehicle charging

As the electric vehicle charging industry continues to grow, so do the challenges that come with it. One of the biggest challenges is the lack of standardization among charging equipment and protocols. This can make it difficult for customers to find compatible chargers and can lead to confusion and frustration.

Another challenge facing the electric vehicle charging industry is the high cost of installing chargers. This can be a barrier for both businesses and consumers who are looking to switch to electric vehicles.

Finally, electric vehicle charging infrastructure is still in its early stages of development. This means that there are not always enough chargers available when and where they are needed. This can be a problem for drivers who are trying to charge their vehicles on long trips or in areas with limited charger access.

The future of the electric vehicle charging industry

The electric vehicle charging industry is expected to grow rapidly in the coming years. The number of electric vehicles on the road is expected to increase dramatically, and the demand for charging infrastructure will increase along with it. There are a number of challenges that need to be addressed in order for the industry to grow as rapidly as expected.

One of the biggest challenges facing the industry is the lack of standardization. There are a variety of different types of chargers available on the market, and each one uses a different type of connector. This makes it difficult for drivers to know which charger to use for their vehicle, and it also makes it difficult for charging station operators to manage a fleet of chargers. Standardization would make it easier for everyone involved in the industry, from manufacturers to consumers.

Another challenge facing the industry is the high cost of installation. Charging stations can be expensive to install, and many property owners are reluctant to invest in them unless there is a guarantee that they will be used by EV drivers. Many EV drivers are also reluctant to pay for charging services, preferring instead to charge at home or at work where it is free. Charging station operators need to find ways to make their services more affordable in order to attract more customers.

The electric vehicle charging industry faces a number of challenges, but if these challenges can be overcome then the future looks bright. The industry is expected to grow rapidly in the coming years, and this growth will bring new opportunities and advances