You probably enjoy driving your electric vehicle, but dislike having to locate and wait at a public charging station. You’ve likely considered installing an electric vehicle (EV) charging station at home, but you’re uncertain of all the benefits. For a homeowner or resident of a multifamily dwelling, the construction of an EV charging station and the ability to charge at home improves everyday in value!
Here are five compelling arguments for installing a Level 2 charging station at your residence or rental property:
1. More convenient
Approximately 80% of EV drivers apparently charge their vehicles overnight at home. Those who install an EV charging station at home develop the habit of charging their vehicle overnight, similar to how they charge their smart phone. You won’t need the car (or phone) while you’re sleeping, so you take advantage of the downtime and rest assured that you’ll be completely prepared in the morning. In addition, installing an EV charging station at home saves you the time required to travel to a public charger and wait, often for hours, while the EV acquires sufficient range to meet your demands.
2. Less expensive
With rollercoaster gas prices, driving an EV was already cheaper per mile than running on gasoline. To reduce costs, the majority of individuals install an EV charging station at home and use it evening, when electricity rates are lower. In contrast, individuals who use public charging stations often consume more expensive electricity during the day.
In addition to recouping the cost of electricity, owners of public charging stations include their overhead costs in their charges, as do owners of other companies. These expenses include of rent or mortgage payments, charging station costs, maintenance, and profits. Even free public charging stations in malls, restaurants, and other locations are costly in terms of time and the likelihood of spending money while inside.
For the use of Level 3 DC fast-charging stations, sites charge a premium fee. This is partially due to cost, as Level 3 chargers are much more expensive than Level 2 charges. Installation of a Level 3 EV charging station frequently necessitates property improvements to accommodate their 400-V to 900-V direct current connections. In addition, you pay a premium for the option to charge your vehicle in around 30 minutes. Level 3 charging is 25% to 40% more expensive than Level 2 charging.
3. More predictable
If you install an EV charger at home, you won’t have to worry about standing in line or getting stranded at nearby public charging stations. Plug in your EV at your leisure and set it to charge while you sleep with the assurance that you will have a substantial range in the morning. Almost certainly, your EV arrived with a Level 1 charger that can be plugged into any 120-volt household outlet that the charger’s cord can reach. A Level 1 charger will add roughly 5 miles per hour to your vehicle’s speed, which may be plenty for your daily commute. Moreover, if you had a more powerful Level 2 charging station built at home, plugging in overnight could provide you with an additional 250 miles of range, depending on the battery.
Another element of predictability that home charging provides is standard pricing. Unlike gas prices, which can fluctuate dramatically over the year, electricity rates rarely alter. You may compute the cost per fill-up based on the rate your utility costs at a specific time of day. Public charging stations are too new to predict whether their rates would remain constant or increase during peak periods, such as holiday weekends.
4. Better for your battery
Electric vehicle manufacturers advocate limiting the frequency of Level 3 fast charging. According to studies, regular supercharging can deteriorate an EV battery more quickly than lower-level charging. Using a Level 3 fast charger has been demonstrated to severely impact battery life. However, this does not mean you shouldn’t take advantage if you find a free fast charger during a road trip so you can return to the highway faster. Tesla has even configured its vehicles to limit charging speeds if they are too supercharged.
Additionally, it is advantageous to only charge the battery to 80 percent capacity using a DC fast charger. When the battery’s state of charge (SOC) falls below 80%, only then do fast chargers charge rapidly. The remaining 20% of the time, these units decelerate to prevent overcharging. At that moment, you would be paying for a Level 3 charge but receiving a lower level. Adding the last 20% of the amount can take almost as long as reaching the 80% mark.
Know your battery type and the most efficient and effective methods for extending its life. Not all EV batteries are compatible with Level 3 charging.
Attracts tenants and raises the property’s worth.
Offering EV charging stations is a way for property owners to differentiate their buildings and attract tenants. With most EV charging occurring at home and many automakers aiming to phase out gas-powered vehicles, residents of multifamily buildings may soon demand the installation of EV charging stations or relocate. The demand for electric vehicles will increase significantly during the next two years.
CBRE stated that EV charging stations will someday become a standard workplace benefit, similar to high-speed internet. The same holds true for multifamily dwellings. If not already, renters, especially those in affluent locations who are likely to purchase new vehicles, may soon anticipate the opportunity to charge an electric vehicle at their complex. To satisfy tenants who want to install an EV charging station at home despite living in an apartment, landlords should take advantage of the opportunity to demonstrate they maintain their buildings. In addition to being more appealing to prospective renters, a facility with charging infrastructure is likely to be more valuable.
The availability of tax incentives in many states and towns is another reason why property owners should act swiftly. The federal government finances state subsidies for the purchase and construction of electric vehicle charging stations. The incentives differ by jurisdiction and even by utility provider, but the advantages are substantial.
ABT will install an EV Charging Station in your home, making your electrical vehicle purchase much more practical. Give us a call to get a quote at your property in Auburn, Placer, Roseville, Grass Valley, Loomis, and everywhere in between.