Electric vehicles (EV) are becoming increasingly popular across the U.S. Clean-powered, environmentally-friendly EVs are here to stay. Electric cars are gaining momentum with growing concerns over climate change and living more sustainable lives. Do you need this amenity in your project? Read on.
EVs require specialized charging stations, which must be planned early in your design.
What Are EV Charging Stations?
A charging station, also called an EV charger or electric vehicle supply equipment (EVSE), connects an EV to a power source to recharge electric cars, neighborhood EVs, and plug-in hybrids. Some charging stations have advanced features like smart metering, cellular capability, and network connectivity.
Adding EV Stations To Your Project—Things to Be Considered
Adding charging stations can be affordable if incorporated into the design during the initial build. However, adding this amenity later can become very expensive.
- EV charging is available at three levels, based on how a vehicle can recharge. Higher levels indicate faster-charging rates but are typically costlier and may require upgrades to a site’s electrical infrastructure.
- The cost of EV charging installation varies considerably based on specific site requirements. Typical cost drivers include upgrades to electrical service panels, trenching, and drilling through walls for electrical conduit runs.
At a minimum, we recommend running conduit under the parking slab, which is a cheap way to prepare for EV charging stations should you later decide to add them to your property.
What are the Benefits?
A 2020 National Multifamily Housing Council revealed that nearly three-quarters of apartment renters are either “interested or would not rent without” green amenities. Installing EV charging in condos and other multifamily dwellings will enhance the property’s appeal to the growing demographic of electric-car drivers.
- Tax Rebates / Government Incentives—Property owners can take advantage of billions of dollars in federal, state, and utility incentives for commercial EV charging projects.
- Increased Property Values—EV charging stations on properties help attract and retain residents, lift property value, and let marketers add sustainability to their brand.
- Larger renter pool—As EV adoption continues to grow, owners can market to a renter pool looking for this particular amenity. EV stations make for a unique selling point in the competitive multifamily market.
Did you know: EV charging stations rank third for top 10 convenience services at multifamily housing developments.
Besides biking, another popular transportation method is as new as it is green—the electric car. EV stations pushed into majority (52.1%) demand in 2021, increasing from 48.6% in 2019 and 42% in 2017.
BASE4—All Services In-House
When it comes to choosing the right amenities for your multifamily development, BASE4 is here to guide you! We help developers, general contractors, and factories find better and cheaper ways to build through innovative technology, forward-thinking design, and offsite manufacturing.
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