18A — July 2024 — Owners, Developers & Managers — M id A tlantic Real Estate Journal
www.marej.com
O wners , D evelopers & M anagers
By Krishna Murthy, EZ Ride Benefits of EV charging stations in apartments
E lectric Vehicle char- gers pay off for apart- ment building owners in many ways, particularly be- cause they’re both residences and workplaces. A few EV chargers can spark demand, increase property values and attract talented employees. Plus, installation is subsi - dized right now thanks to a statewide push to increase the availability of chargers. EZ Ride, a not-for-profit transportation management association (TMA), is lead- ing that effort in New Jersey. Through our free-of-charge EV
Accelerator Program, we are connecting New Jersey busi- nesses with trusted installers and applications for grants that cover a substantial part of the construction bill. Lack of charging access is particularly acute for multi- unit dwelling (MUD) resi- dents, who are more likely to lack dedicated parking, and are also unable to con- trol charging access and/or potentially afford charging infrastructure investments. Financial Incentives Grants available through the state of New Jersey coupled
with local utility company in- centives make EV chargers fi - nancially viable. For example, the New Jersey Department of Environmental Protection’s “ It Pays to Plug In ” program will pay for the hardware, up to $4,000 per port. The Board of Public Utilities also has a similar program targeted at multiunit dwelling and it of- fers $4,000 per DUAL port. The utility companies such as PSE&G, JCP&L and Atlantic City Electric offer rebates covering the installation costs. Together they can cover up to 90% of the project’s total cost. Certification & Recognition Participation in national programs like the Electric Vehicle Adoption Leadership (EVAL) certification recog- nizes businesses who support increasing EV infrastructure. Similar to LEED certification for green buildings, EVAL assesses and recognizes a company’s commitment to sustainable transportation practices. Getting this stamp of approval can enhance a building’s reputation with tenants and employees who are eco-conscious, which is particularly helpful in today’s tight labor market. There are several toolkits available online to imple- ment residential or workplace charging, including the NJ Department of Environmental Protection, EVAL certifica - tion and the Charge@Work website has a free builder tool which analyzes a property and determines whether it can support EV infrastructure. Charge@Work and EVAL are both funded by the U.S. De- partment of Energy. Property owners in New Jersey who sign up for EVAL certification will be referred to EZ Ride for assistance, if needed. Tenants and Talent Having EV chargers at apartment buildings is both a valued amenity and a work- place perk. On-site charging stations are easily shared by employees and tenants. Tenants tend to use them at night, employees usually need them during the day. Plus, electricity costs are relatively low, up to $14 dol- lars a day per charger, a mile- for-mile equivalent of $42 in gasoline. Just one new tenant or happy employee pays for it. By 2030, 40-60% of all new continued on page 24A
Krishna Murthy discussed the importance of EV charging stations at apartment buildings in a panel hosted by Ron Simoncini of Axiom Communications at the 10th Annual New Jersey Apartment & Multi- family Conference. (June 18, 2024, Edison, New Jersey.)
GLOBAL ENGINEERING & INTEGRATED DESIGN SERVICES
Creating flexible spaces that inspire people as they live, learn, work, heal, and explore
POWERING HUMAN POTENTIAL
Mid-Atlantic Region Baltimore, MD Hamilton, NJ Philadelphia, PA Richmond, VA Washington, D.C.
akfgroup.com wsp.com
Made with FlippingBook interactive PDF creator