June 23, 2022 - 4 MIN. READ
Electric vehicle charging station planning and installation can be a lengthy process. So, understanding the factors involved in EV charging station planning is crucial.
Executive summary
This article outlines significant considerations for multi-family EV charging station planning. Principal factors include the costs of the selected EV chargers, installation expenses, permitting, licensing, and maintenance. In addition, multifamily property owners should consider the potential revenue and promotional opportunities available once EV charging stations are installed.
Key factors in EV charging station planning
EV usage is growing exponentially. In 2021, electric vehicles made up 9.7% of all auto sales. This figure is almost twice as much as the previous year when 5.4% of vehicle sales were electric. Additionally, auto executives speculate that by 2030 more than half of new vehicle sales will be EVs. For all these reasons, it is essential to consider adding EV chargers at your multifamily properties. These are the critical factors to look at in your planning process:
- Equipment and installation costs.
- Permits and licensing.
- Upkeep and maintenance.
- Revenue and promotion.
1. Costs
Costs for equipment and installation are key when you consider installing EV stations in your multifamily properties.
To estimate your costs, begin by deciding on the type of charging stations you want to install. Most property owners will choose between Level 1 and Level 2 chargers. A Level 1 car charger only requires a standard connection of 120V and can operate on a 20-amp circuit. Level 1 chargers typically require 24 hours to charge a vehicle fully; this is a good option for people who drive less than 30-40 miles daily.
For more rapid charging, a multi-family property owner will want to look at a Level 2 EV charging station. A Level 2 charging station will require a 240V connection and typically run on a 40-amp to 60-amp circuit. While a Level 2 charging station is the more expensive option, it can add 30 miles of range to an electric vehicle per hour, while a Level 1 charger usually provides only 3-5 miles of range per hour.
Next, assess your property. For example, is your building equipped to handle the electrical load? Will you need to install new circuits? A Level 2 EV charging station requires a 240V electrical connection; the amperage of that connection will determine an EV’s charge time. Most EV chargers are 32-amp, 40-amp or 48-amp. A 48-amp charger requires a 60-amp circuit breaker, a 40-amp charger requires a 50-amp breaker, etc.
How many charging stations will you need? This figure will also help you determine how many new circuits you may need to install. With any electrical work, you will want to contact local electrical contractors to determine the scope of the work required. We recommend Qmerit, the leading EV charging station installer in North America.
2. Permits and licensing
Another important consideration for planning an EV charger installation is verifying any permit and licensing requirements. Local townships typically require a fee to permit the electric work and an additional fee if any curb or pavement work is needed. A permit will probably require specific documentation such as a site plan, an electrical plan, and a paving plan if necessary. In addition, the permit process may require multiple inspections to ensure the proper materials are used and the work is done correctly. For the licensing process, you will need to submit a licensing application with your city for each EV charging station. This application normally requests general business information and a small fee; you must renew it annually.
3. Revenue and promotion
Another key factor to keep in mind in your EV charging station planning is the potential revenue for your property. The simplest way to make revenue with an EV charging station is to charge a fee for its use. There are many ways to structure the charging fee, and the owner has the freedom to structure these fees as they wish. Alternatively, you may want to offer the charging service as a free amenity. In any case, you can take advantage of various websites and apps that inform consumers about different establishments that offer EV charging. Getting your multifamily properties listed in these apps is a great way to promote your properties and highlight your EV charging stations.
4. Upkeep and maintenance
Because EV charging stations represent relatively new technology, determining a unit’s life expectancy or maintenance costs is challenging. Despite the lack of substantial data, experts assume an average lifetime of 10 years per charger is realistic. Ultimately, maintenance of Level 2 chargers is a matter of cleaning the components, checking for signs of wear or damage, and replacing damaged parts if necessary. In the case of Level 2 chargers, the U.S. Department of Energy recommends a $400 annual budget to cover the cost of replacement parts.
Raiven can help
Adding EV charging is an investment that requires careful planning and management, including keeping costs down through purchasing and supply chain management.
Raiven serves multifamily properties and property owners by providing the lowest prices on EV charging equipment, appliances, replacement parts, and maintenance supplies as well as a purchasing platform that makes buying fast and efficient. Key benefits include:
- Pre-negotiated discounts of 7-25%+ from big name suppliers like Ferguson, HD Supply, Grainger, Graybar, Office Depot, and more.
- Supply chain alerts for price and product availability changes on the items that matter to you most.
- Private marketplace houses all your preferred suppliers in one location for easy access to your discounts. No more bouncing around websites comparing prices.
- AI-powered purchasing tools that find the lowest prices even when employees shop outside your network.
Raiven is your one stop to save time and money. Ask our clients Core Realty, Lyon Living, or Oaks Property Management what we’ve done for them. Visit Raiven to learn what we can do for you.
If you need your EV charging stations installed, be sure to visit Qmerit, the nationwide leader in electrification solutions.
