{"id":3248,"date":"2024-03-12T10:57:23","date_gmt":"2024-03-12T14:57:23","guid":{"rendered":"https:\/\/swtchenergy.com\/?p=3248"},"modified":"2025-05-08T09:32:46","modified_gmt":"2025-05-08T13:32:46","slug":"multifamily-ev-charging","status":"publish","type":"post","link":"https:\/\/swtchenergy.com\/blog\/ev-insights\/multifamily-ev-charging\/","title":{"rendered":"Multifamily EV charging made simple: attract residents & future-proof your property"},"content":{"rendered":"

We\u2019re rapidly approaching the time when the majority of vehicles sold will be electric.<\/p>\n

According to BCG<\/a>, the number should hit at least 49% by 2030. Regulations may see EVs\u2019 proportion of new car sales by 2032 hit as high as 67%<\/a>.<\/p>\n

And EV drivers prefer to charge up at home. The US Department of Energy<\/a> says that\u2019s true for at least 80% of EV drivers today.<\/p>\n

With about 31% of Americans living in multifamily homes<\/a>, this means there\u2019s both a need and a significant opportunity for more EV chargers to be installed at condo developments and apartment buildings to serve the growing needs of EV drivers.<\/p>\n

For properties that do invest in adding chargers, there are substantial benefits to be had\u2014and the sooner, the better.<\/p>\n

Curious about the possibilities? Read on to understand the full picture of why and how to install EV charging at multifamily properties today.<\/p>\n

Why you should add EV Charging to Your Multifamily Property<\/h2>\n

Adding EV charging to a multifamily property can be a big project, but there are big benefits that can come from it, both short-term and long-term.<\/p>\n

EV charging stations can help attract and retain residents<\/h3>\n

Over the next few years, electric vehicles will become less expensive and more widespread, and more drivers\u2014including your tenants\u2014will begin to seek them out. They\u2019re also going to start wanting to charge their cars at home, and are likely to choose to live at a property that offers charging.<\/p>\n

Today, because there are relatively few multifamily properties that have onsite EV charging infrastructure, it\u2019s easy to set your property apart by adding charging. Soon, though, multifamily properties without EV chargers will be at a major competitive disadvantage.<\/p>\n

\"SWTCH2023_Condo_00844\"<\/p>\n

Onsite EV charging can highlight a commitment to sustainability<\/h3>\n

A commitment to sustainability has become an important consideration for more people when evaluating where to live. In its Voice of the Resident Report<\/a>, MRI Software shows that more than 60% of renters consider technology and management practices that encourage sustainable living to be either \u201cImportant\u201d or \u201cAbsolutely essential.\u201d<\/p>\n

There are many kinds of initiatives that can go into meeting this new demand. Common steps include updating lighting, improving insulation or installing more efficient heating and cooling technology.<\/p>\n

But EV chargers are a prominent addition to the mix and one that can highlight a determination to be sustainable beyond the norm.<\/p>\n

EV charging is the rare amenity that pays for itself<\/h3>\n

Unlike most amenities you\u2019ve added or are considering adding to your building, EV chargers can recoup their cost over time.<\/p>\n

We describe payments and billing in more detail here<\/a>, but here are the basics: A good multifamily EV charging setup will involve directly billing users for their charging sessions. By adding a small fee on top of the cost of electricity, you can make up the cost of your chargers and charging software over time without upsetting your tenants.<\/p>\n

This is not something you\u2019re likely to be able to do with other popular amenities\u2014in-building fitness centres, for instance.<\/p>\n

Onsite chargers may increase your building\u2019s potential sale value<\/h3>\n

Here\u2019s something not enough property owners are considering today: the current incentive programs that drive down the cost of installing EV chargers are not going to be around forever.<\/p>\n

This means two things.<\/p>\n

First, there\u2019s no better time than the present to start installing chargers because when the incentives go away, this kind of upgrade is going to become substantially more expensive.<\/p>\n

Second, when chargers are more expensive to install in the future, their existence on a multifamily property will become even more valuable than it is today.<\/p>\n

Whether you\u2019re looking to sell in the future or not, a more valuable asset is a more valuable asset. Installing EV chargers at a multifamily property today is an investment that can pay off down the road.<\/p>\n

\"Level-2-9900-king-George-Blvd-surrey-bc-1<\/p>\n

See how SWTCH makes multifamily EV charging<\/a> simple and affordable.<\/em><\/strong><\/p>\n

Key Considerations for Multifamily EV Charging<\/h2>\n

If you\u2019re looking to install EV charging infrastructure on a multifamily property, there are a number of things you\u2019ll need to think through in order to set yourself up for success\u2014and avoid potentially unpleasant surprises.<\/p>\n

EV charging grants, incentive programs, and tax credits<\/h3>\n

At the federal and state or provincial levels\u2014and even sometimes local\u2014there are some great incentive programs out there that can help reduce the cost of installing EV chargers at your property. In some areas, these programs can reduce the cost by up to 90%.<\/p>\n

Different programs have different requirements. For example, the US Alternative Fuel Vehicle Refueling Property Tax Credit<\/a> (also known as 30C) offers up to $100,000 in tax credits per item of property when installing EV charging stations. For full eligibility, it also requires that charging stations be installed in underserved areas and that specific wage and apprenticeship standards be adhered to.<\/p>\n

You can learn more about some of the available incentive programs right here<\/a>. If you\u2019re unsure of what is available in your area and would appreciate some guidance, you should also feel free to reach out to our team<\/a>. We\u2019ll be happy to help.<\/p>\n

Electrical capacity & load management<\/h3>\n

Especially when you\u2019re retrofitting an older building, electrical capacity is a common challenge for multifamily installations. A typical EV charging station installation requires a 40 amp circuit for each charger. For most buildings, this means choosing between either not installing enough chargers to offer good service to residents or spending a fortune on electrical upgrades so that enough chargers can be added.<\/p>\n

Beyond that, there are concerns about the load that several chargers in concurrent use could place on the building. Already, there are likely to be many appliances, heating and cooling systems, and other demand sources in use\u2014electric vehicle charging on top of all of that could push the building past the threshold at which you\u2019ll have to pay demand charges.<\/p>\n

The solution: The better EV charging solutions for multifamily buildings will offer \u201cload management\u201d functionality, which can accomplish two main things:<\/p>\n

    \n
  • It can help you install multiple chargers along a single circuit, which reduces the amount of upgrades you have to make (if any).<\/li>\n
  • It can interface with your other demand sources to ensure that charging takes place only at the times of day or night that will not push your building\u2019s demand up too high.<\/li>\n<\/ul>\n

    You can read more about load management technology here<\/a>.<\/p>\n

    Or watch this quick explainer video.<\/p>\n