September 17, 2024

From Amenity to Necessity: Why Multifamily Properties Should Consider EV Charging Infrastructure

7 Min. Read

The landscape of electric vehicle (EV) charging is undergoing a significant transformation as more drivers begin to adopt EVs and look for convenient EV charging solutions where they live, work, and travel. What was once seen as a luxury amenity is now becoming a necessity.

The rapid surge in EV adoption, along with state and local mandates for EV charging accessibility and increased funding for electrification, is helping to drive this change and meet the growing demand.

For multifamily properties, EV charging is no longer just a standout feature or luxury amenity — and it’s quickly becoming a requirement, especially for new construction projects.

As a property owner or manager, electrifying your community is a great way to attract and retain residents, increase profits with a new revenue stream, and ensure your business continues to meet the needs and demands of a rapidly growing demographic of EV drivers.

In this article, we will examine how new mandates are supporting the development of EV charging infrastructure across the country and how this shift benefits multifamily properties while also highlighting some common challenges, particularly the impact of electrician labor shortages on implementation, that property owners and managers may face and offering solutions on how to overcome them.

The Current EV Charging Infrastructure

The U.S. public EV charging infrastructure is expanding rapidly, driven by increased public interest and a blend of public and private investments. In Q3 2023 alone, there was a 5% increase in EV charging station installations, bringing the total number to more than 74,000.

EV adoption is a key factor fueling the demand for accessible charging, with 1.6 million EVs sold in the US in 2023 alone. As more EV models continue to hit the market, these numbers will continue to rise.

However, consumers motivated by saving at the pump and reducing emissions or interested in taking advantage of rebates, tax credits, and other programs that make EVs more affordable, won’t all be homeowners who can install EV charging in a single-family home.

Access to charging must continue to expand for EV adoption to maintain its momentum. In fact, the lack of charging availability remains one of the top barriers for prospective EV buyers.

Some states are addressing the challenge with mandatory EV infrastructure laws, but while these laws may begin to require commercial and multifamily properties to install charging, proactively investing in EV charging infrastructure is also a great amenity and profitable asset for business owners looking to remain competitive and drive their business into the future.

Multifamily EV Charging State Mandates

Several states have already adopted mandates that require new multifamily construction projects to offer EV charging to tenants or develop parking facilities ready for future charging. For older pre-existing properties, remaining competitive with these new developments will require following suit and also implementing this technology.

New York

New York plans to phase out sales of new gas-powered cars by 2035. With over 66% of NYC households living in rental units, developing multifamily EV charging has become a top priority for property managers.

The state is addressing this challenge by requiring 25% of spaces to be equipped with chargers and 100% to be ready for future installations for larger properties. Multifamily properties with one to three units will need at least one space with EV charging.

While there are concerns that EV charging station electrical requirements will cause construction costs to go up, they’ve contributed to the more than 200,000 EVs registered in New York and will be a powerful revenue-builder for property owners across the state.

California

California has adopted similar policies by requiring EV-ready parking spots and EV charging ports in new multifamily projects. Depending on the size of the property, the requirements range from 10% of spaces ready for future electrification and 25% of spaces equipped with Level 2 receptacles for properties under 20 units to similar requirements in addition to requiring 5% of parking spaces be equipped with Level 2 EV chargers for larger properties.

These policies, along with other California EV charging laws have already had a positive impact on the 44% of Californians who are renters, with zero-emission vehicles representing 24% of new vehicle sales in the state.

Other States With Charging Mandates

Other states have adopted similar requirements for electric car charging stations, including Washington, which now requires new multifamily properties to have at least 20% of parking spaces ready to receive a charging station.

In addition to Washington, Oregon also has a 20% mandate, and Massachusetts requires large multifamily projects to be 100% EV-ready and have at least 25% of parking spaces equipped with chargers.

While these are some of the first states to implement these requirements, they are setting the stage for other states to follow suit as EVs continue to rise in popularity across the country.

The Shift from Good-to-Have to Must-Have

These state mandates illustrate a broader trend shaping the future of multifamily properties: EV charging evolving from a perk or amenity to a necessity.

This shift will only continue to accelerate as the 12 states committed to phasing out new ICE car sales move closer to this goal. EV charging as a necessity is also a relevant concept in other states, with 35% of Americans saying they would consider an EV as their next vehicle purchase.

Why Electrify Now?

As of 2024, EV charging mandates only target new multifamily construction, but proactively investing in electrification now is a smart move as mandates could aim to expand apartment EV charging for existing properties in the future. Additionally, preemptively taking action now will help you to take advantage of multiple incentives designed to lower the cost of EV charging installation for multifamily and commercial property owners.

The ongoing electrician shortage is another powerful argument in favor of investing in electrification now as opposed to waiting. The current workforce shortage is expected to widen as a generation of experienced electricians looks to retire in the near future, and as more states adopt EV charging mandates, demand and costs for qualified labor will only increase.

Environmental and Social Benefits

EV adoption can cut transportation emissions by more than half, making EV charging a key part of your property’s ESG goals and helping you to establish a sustainable brand image that appeals to tenants and investors.

Plus, having more EVs on the road translates into a better quality of life for your community. Besides being quieter, EVs could prevent millions of illnesses by 2050, especially respiratory conditions.

Pairing your EV charging stations with other electrification technologies, such as solar panels, battery storage, and even smart electrical panels can further establish you as a community leader in sustainability while also helping support your property operations and profitability.

Technological Advancements

Today’s EV charging solutions are performing better than ever, featuring exciting innovations such as integration with renewable energy sources, scheduling charging with smart grid products, and even turning EVs into mobile sources of power with bidirectional charging.

Designing a modern EV charging infrastructure is the crucial first step toward creating a sustainable, energy-resilient multifamily property.

Why Mandating EV Charging Infrastructure Matters

With 44.1 million American households renting their homes, EV charging mandates regulating new multifamily construction are instrumental in removing barriers to EV adoption.

For multifamily property owners and managers, supporting the shift to electric transportation is vital for quality of life at the local level. Reducing reliance on fossil fuels is a critical factor in building sustainable cities, and making EV charging accessible in rental units can reduce crowding around public charging.

Investing in EV charging is not only a smart move for future-proofing your property against future mandates and regulations but also a key strategy for enhancing your property value. By providing EV charging, you can boost tenant satisfaction and retention, making your property even more attractive to potential renters.

Additionally, these mandates establish consistent EV charging station standards, ensuring that the infrastructure delivers a reliable and optimal experience.

Get a Headstart on Multifamily Electrification with Qmerit

As more states adopt mandates to support the rising population of EV drivers, the demand for EV charging installation will increase. Now is the perfect time to start planning your multifamily charging project to stay ahead of the curve and avoid potential delays caused by increased demand for skilled labor.

Whether your state has a multifamily EV charging mandate or you just want to future-proof with electrification, it’s crucial to work with an experienced professional to plan your EV charging infrastructure project.

As a multifamily property owner or manager, installing EV charging stations can help increase your revenue and the marketability of your community, but EV charger downtime, installation delays, or hiring an unqualified or unprofessional electrician can result in a loss in profit and damages to your property and your reputation.

When it comes to hiring a qualified electrical contractor with EV charger installation experience, Qmerit makes it easy. Offering coast-to-coast coverage, turnkey solutions that streamline your project, competitive pricing and solutions that meet your needs and budget, and the largest network of certified electrical contractors in North America, we’ve built our reputation on providing the highest level of quality and service—because Qmerit means Electrification Made Easy™.

With over 450,000 EV charging stations installed and an industry-leading customer satisfaction record, no one is more experienced or recommended than Qmerit’s network of electrical contractors.

Contact Qmerit today for seamless multifamily EV charging solutions at your property and discover why we’re North America’s most trusted service provider for EV charging installation and other electrification services!