Electric cars are becoming increasingly popular with consumers as the price for these vehicles is dropping faster than even the experts predicted. As a result, the need for electric car charging stations for condos and apartments will continue to rise. A recent study by Bloomberg New Energy Finance predicts that over half of all new car sales will be electric vehicles within the next two decades, and demand is expected to increase exponentially in the next seven years.
California leads the nation with the most electric cars on the road. And according to the International Coalition for Clean Transportation, the San Francisco Bay Area and Los Angeles have the largest electric car adoption of anywhere in the U.S.
If you represent an HOA or if you own or manage a property with renters, there’s never been a better time to prepare your building for the influx of residents who already have an electric car or plan to get one. Residents of multi-unit dwellings are looking for the same convenience that car owners who live in single family homes have: the opportunity to charge their vehicles at home. Offering charging stations to your residents is a great amenity that can increase the value of your property.
Car Charging Stations for Existing Buildings
For existing buildings, installing car charging stations has unique challenges. From where they should be located to how you set up and manage billing for your residents.
Car Charging Stations for New Construction
How Your HOA Can Benefit
There are a number of ways your HOA can benefit from installing electric vehicle charging stations.
- In can help increase everyone’s property value as you offer state-of-the-art amenities to current and future residents.
- You’ll be prepared for new building standards that will focus on energy efficiency and sustainability.
- You’ll play a role in helping to mitigate the negative impacts of climate change.
How Property Owners Can Benefit
Property owners benefit from providing electric car charging stations to their residents in a number of ways.
- Charging stations will make your property more competitive with other rentals.
- You’ll attract higher income residents.
- The investment can help increase your property and rent values.
- You’ll be ready for new energy efficiency building standards.
- You can market your property as a green, environmentally-friendly property to attract the kind of renters who care about their local communities.
How Your Residents Can Benefit from Installing Electric Car Charging Stations
Offering car charging stations benefits both condo owners and apartment renters.
- You’ll help your residents take advantage of tax credits. The federal government allows up to $7,500 as a tax credit on the purchase of an electric vehicle.
- In addition, even residents who lease electric cars can get tax credits.
Electric Car Owners Make Great Residents
Electric car drivers promise to be great residents for your property. According to Clean Technica, in a study conducted by True Car, buyers of the electric version of select vehicle models had higher incomes. For example, the study found that buyers of the conventional version of the Ford Focus had annual household income of about $77,000. While buyers of the electric Ford Focus had a household income of about $199,000. Similarly, buyers of a regular Fiat 500 had an average household income of $73,000, while buyers of the electric version of the Fiat 500 had a household income of $145,000.
How Clean Economy Can Help
We can take hassle out of setting up electric car charging stations in your building. Whether you simply need expert advice or a partner to handle your entire program, we can help.
How to Get Started:
- Contact us via phone, email, or through our contact form on our Contact Us page.
- We’ll get back to you within one business day to arrange a complimentary consultation over the phone. In this consultation, we’ll address your initial questions and get an understanding of your objectives, priorities, and budget. Then, we’ll set up an appointment to come out to your location.
- After meeting in person and assessing your property for the optimal set up for charging stations, we’ll provide you with a proposal and initial recommendations. We’ll also let you know about available incentives for your area.
- If you decide you’d like to move forward, we’ll sign a mutual agreement, and then we’ll provide a project management plan and schedule for you to review.
- Once you approve the project management plan, we’ll get started on your installation!
What We Offer:
Design, Configuration, and Equipment Selection
- We’ll design an optimal plan for your vehicle charging stations.
- We’ll work with you on issues, such as the number of stations you need and whether you have shared or private parking spaces, or both.
- We’ll help you determine how many stations you need and how you can scale over time.
- We’ll recommend the best equipment for your unique set up and budget.
- We’ll coordinate the installation of your stations, including acquiring necessary permits. Our team of electricians and builders will handle the entire installation.
Charging Station Maintenance and Program Management
- If you choose to have us manage your charging stations, we’ll set up a system for reporting and billing.
- We’ll work with you on the optimal plan, such as billing by time, electricity usage, and other factors.
- We’ll also ensure security measures are in place.
- We’ll provide you and your residents with access to our online portal where you and they can manage your accounts, including paying with a credit card, viewing energy usage, and more.
Whether you represent a workplace, homeowners’ association, apartment complex, or a municipal agency, Clean Economy can guide you through all of your electric vehicle charging needs.