Navigating the untapped potential of multifamily EV charging

Navigating the untapped potential of multifamily EV charging

Installing just one EV charger can be a power differentiator for multifamily units like apartment buildings.

If you’re an EV owner, you’re going to want to own a home charging station too. However, about a third of the U.S. population rented the space where they lived in 2021. That complicates things and slows EV adoption rates across the board.

But, where there are problems, so too are opportunities. On this week’s show, we speak with the CEO of Refuel Electric Vehicle Solutions, a company that is helping the multifamily sector navigate the ins and outs of EV infrastructure and the advantages that can come with installing even just one charger.

“If you figure on average, even if the rent is $1,500 a month, that’s $18,000 a year in rent that that one tenant brings you because they came to your apartment property. They pay you $18,000 a year because you have a charging station,” says David Aaronson, the CEO of Refuel Electric Vehicle Solutions. “Now, the value of that $18,000 at a 5% cap rate is $300,000, $350,000. So, you’ve created that much value with that one tenant.”

In this episode of The Amped EV Podcast, Aaronson talks us through reasons why it might be a good idea to have charging available for tenants, how to know if your property is ready to install EV charging, how far in advance to start the project and how to future-proof your charging infrastructure.

This is an audio-only version of our episode with David Aaronson, CEO of Refuel Electric Vehicle Solutions. Go ahead, you’re already here – take a listen! But, if you’re looking for moving photos, click here.

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