The benefits EV charging

Whether it’s an apartment building, condos, townhomes, or other types of multi-unit housing (MUH) properties, offering EV charging as an amenity can increase value perception for new and current residents. If you’re considering adding EV charging stations, this guide will help you analyze the benefits EV charging provides, and what considerations you should examine.

The Growing Demand for Electric Cars

There are roughly 250 million automobiles driven in the United States, and of those it’s estimated that 1% of them are EVs. While that percentage is small, market research predicts 25-30% of new car sales between now and 2030 will be EVs, and that figure is likely to jump to 40-45% by 2035. According to Reuters, at that rate, more than half of the vehicles on U.S. roads will be electric by 2050. However, the Biden Administration has set an ambitious goal, wanting half of new car sales to be electric, hybrid electric or fuel cell-powered vehicles by 2030. If this goal is achieved, 60 to 70% of vehicles on the road will likely be EVs by 2050. These projections are based on roughly 17 million automobiles being sold every year, which is consistent with recent sales trends.

So, what does this all mean for your housing community? EVs aren’t some distant thing on the horizon, nor are they part of a trend that will fade away. They represent the near future, part of a concrete plan that’s already being ushered in by federal and state politicians, along with the major auto manufacturers. To keep up, drivers need convenient EV charging options, and MUH communities are in a unique position to benefit. Many communities, in several states, have yet to offer EV charging, so those that do have it get to enjoy a value-added advantage over their competitors. Plus, offering EV charging onsite can be a way to generate passive income, charge higher rent or offer as a paid amenity.

In some cases, offering EV charging solutions at properties has already become a requirement. This is because some states are requiring EV chargers and station infrastructure to be included with new MUH community builds

16A 32A 20ft SAE J1772 & IEC 62196-2 Charging Box