Why EV charging matters for you and your residents

Every parking space is a potential revenue generator

Imagine your parking spots as profit centers. By investing in EV charging infrastructure, you’re poised to take advantage of the biggest sea change in transportation since the invention of the Model T. Currently, every parking space at your property without charging is a wasted investment. Your residents use it but, otherwise, you’re not likely getting much of a return on that square footage. When you add charging, suddenly that space begins working for you. Your residents will rely on it, be willing to pay extra for the privilege of having it available day and night, and will be less likely to move elsewhere.

By choosing ChargePoint solutions, you can practically sit back and put EV charging to work for you. And if you ever decide to sell your property, potential buyers will be willing to pay far more for an EV-ready property than one that requires infrastructure upgrades.

Other bottom line benefits of EV charging

Attract and retain desirable residents
Decrease unit vacancies and duration
Differentiate from competitors
Increase property value and rents by promoting a green brand
Compliance with emerging building codes and standards
Meet ESG goals and earn certifications

The time is now for
EV charging

Fueling behavior is changing quickly. For more than a century, the primary search engine for fueling has been our eyes. Running low on gas? Unless we’re in a familiar neighborhood, we’ve had to scan highway exits or look for the handful of recognizable signs towering high above the city blocks. In the EV era, that all changes.

For 15 years, ChargePoint has been laser-focused on providing the best charging experience for drivers. We’re the only EV fueling company involved in all segments of EV charging operating across North America and Europe. In fact, today, 78% of Fortune 50 companies choose ChargePoint. We’ve completed tens of thousands of installations, and today a driver plugs into our network every second.

We have the expertise that makes it easier for you to get started, and it costs less than you might think.

3 ways to save

EV charging is fast becoming a standard amenity in many high-density housing properties. Several states already mandate charging spots, including California, which requires at least 3% of all new parking spaces to be “make-ready” equipped for EV charging in new multifamily communities.* Some municipalities require even more: In Los Angeles, New York City and Vancouver, between 5% and 20% of parking spaces must be EV-ready. The good news is that the cost of EV charging infrastructure can often be offset, saving you money.

1. Incentives

Across the country, many states and utilities offer incentive programs to help cover the costs of EV charging infrastructure.

Take advantage of available tax credits to help you save on new construction.
Get reimbursed for your investment by capitalizing on one or more of the rebate programs offered in your area.
Plan your EV charging installations strategically by applying for available EV charging grants.

2. ChargePoint as a Service

ChargePoint as a Service is an easy way for multifamily property owners to offer EV charging to residents.

Conserve CapEx funds by using consistent annual OpEx funds to pay for charging infrastructure.
Get monitoring of your solutions from ChargePoint so they’re never technologically obsolete.
Save time and money with minimal overhead and predictable operational expenses.

3. Flexible Pricing

Customize pricing for residential EV charging based on your goals. You can easily set pricing by time, session or electricity usage (kWh).

Offer charging as a free amenity to attract and retain residents.
Structure pricing policies to encourage residents to share community stations.
Use the Power Management feature to offer more chargers without the need for electrical upgrades.
Set pricing for different user groups, including resident, public and mixed-use.

^{* https://www.energycodes.gov/sites/default/files/2021-07/TechBrief_EV_Charging_July2021.pdf}

Did you know?

Most property owners charge between $0.15 and $0.25 per kilowatt hour (kWh), which helps recover electricity and operational costs. This pricing gives EV-driving residents an attractive < $2/gallon equivalent to fuel up. ChargePoint can guide you to help make your charging program a win-win for everyone.