Why Strata Properties Should Invest in EV Chargers Now, and things to consider when installing.
There’s no doubt about it, the world id transitioning towards electric vehicles (EVs), and strata properties are increasingly considering the installation of EV charging stations. This investment offers several benefits that can add value to the property and appeal to a growing market of EV owners.
Key Benefits of Installing EV Chargers in Strata Properties:
Increased Property Value: EV charging stations can significantly increase the value of a strata property. Prospective buyers are increasingly seeking properties with these amenities, as it demonstrates forward-thinking and caters to the growing demand for EV charging infrastructure.
Attracting Tenants: For rental properties, EV charging stations can be a powerful tool to attract and retain high-quality tenants. This amenity is especially appealing to environmentally conscious individuals who own or plan to purchase an EV.
Reduced Operating Costs: While initial installation costs may be involved, EV charging stations can lead to reduced operating costs in the long term. By generating revenue from charging fees, strata properties can offset maintenance expenses and potentially contribute to common area costs.
Community Sustainability: Investing in EV charging infrastructure aligns with broader sustainability goals and demonstrates a commitment to reducing carbon emissions. This can enhance the property's reputation and appeal to environmentally conscious residents.
Government Incentives: Governments offer incentives and subsidies to encourage the adoption of EV charging infrastructure. Strata properties can explore these opportunities to offset the initial investment costs.
Factors to Consider When Installing EV Chargers:
Demand Assessment: Conduct a survey or analysis to assess the demand for EV charging stations within the strata property. This will help determine the optimal number of charging points and their location.
Infrastructure Requirements: Ensure that the property's electrical infrastructure can support the additional load of EV charging stations. This may involve upgrading existing systems or installing new equipment. (Solas offers this service, infrastructure checks.)
Charging Station Type: Choose between AC or DC charging stations based on the needs of your residents. AC chargers are more common for home use, while DC chargers are faster but more expensive to install and operate.
Management and Maintenance: Consider the management and maintenance requirements of the charging stations. This includes billing, access control, and ongoing maintenance to ensure optimal performance.
By investing in EV charging stations, strata properties can position themselves as leaders in sustainable living and attract a wider range of buyers and tenants. As the demand for EVs continues to grow, this investment is likely to yield significant returns in the long term.