Powering Up Your Multifamily Property with EV Charging

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In the race to meet the growing demand for electric vehicle (EV) charging in multifamily dwellings like apartments and condos, property owners are gaining an edge by making their complexes EV-friendly. It’s not just about keeping up with the times; it’s about attracting and retaining tenants, boosting property value, and fostering a community that’s all about sustainability.

Residents are sending a clear signal – they want EV charging at home. With 80% of EV charging happening in the comfort of one’s residence, apartments equipped with EV charging are becoming a hot commodity. For potential tenants, and let’s not forget the investors eyeing value, it’s a game-changer. EV charging is quickly shifting from luxury to necessity, with some places already writing it into their building codes.

Now, if you’re the owner or manager of a multifamily residential building, here’s the lowdown on getting the gears in motion for electric vehicle supply equipment (EVSE) installation.

Step 1: Tune in to Your Residents

Before diving into EV charging plans, tap into the thoughts of your residents. Are they cruising around in electric vehicles or considering the switch in the next five years? While it’s no crystal ball, a quick survey among your current tenants can give you a glimpse into the EV landscape of your complex.

Step 2: Scope Out Your Site

A crucial step in the EV charging journey is a site assessment. This not only pinpoints your current electrical capabilities but also unveils any upgrades needed to roll out the welcome mat for electric vehicle chargers.

Concerned about costs? Fear not. Strategic placement, like installing chargers close to the electrical room, can cut expenses. Leverage local load management for efficient power sharing among multiple chargers. And here’s a pro tip – plan for the future. Make some parking spots EV Ready by prepping them with wiring and conduits. When the time comes to add more chargers, it’s a smoother, less costly ride since the groundwork is already laid.

Exploring Ways to Fund EV Charging Stations

Discovering financial support for installing EV charging stations in multifamily residences is easier than you might think. The U.S. federal government, state governments, and even some utility providers offer a variety of funding options.

The Alternative Fuel Infrastructure Tax Credit, managed by the IRS, is a location-specific incentive. It grants a 30% tax credit for electric vehicle charging infrastructure installation costs, up to $100,000 for commercial properties, including multifamily dwellings. To qualify, the chargers must be installed in census tracts with a poverty rate of at least 20% or a median family income less than 80% of the state median.

The U.S. Department of Energy’s Alternative Fuels Data Center is a goldmine of federal funding programs and incentives for alternative fuels, vehicles, advanced technologies, and air quality. It encompasses electric vehicle charging infrastructure support.

For state-specific incentives, Anfu Charging’ s Commercial Incentives tool is handy. Input your zip code and the Anfu charger type to discover potential funding opportunities.

Beyond funding, the Alternative Fuels Data Center offers valuable EV charging resources for multifamily housing units.

Choosing the Right Chargers

For multifamily residences, Anfu Charging recommends Level 2 chargers. These chargers efficiently fill an EV battery overnight with a 208/240-volt input. While some inquire about Direct Current Fast Chargers, they are often excessive and unnecessary for overnight parking scenarios. By opting for Anfu, your chargers become part of the Anfu Network, granting you full control over access and pricing. You can customize pricing for day versus night charging and distinguish between public and private users.

As electric vehicle ownership grows in the U.S., more renters are embracing EVs. Installing chargers in your apartment complex or condominium not only attracts tenants but also cultivates a sustainable community. Ready to embark on this journey? Reach out to Anfu Charging today to explore electrification options for your multifamily dwelling.

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