What are the Benefits of Residential EV Charging?

What are the Benefits of Residential EV Charging?

Marte Fougner Wang

21. Sep 2023 | 6 min read

Electric car charging in apartment buildings

In today's world, where environmental awareness and sustainability are in focus like never before, offering EV charging in apartment complexes is a win-win situation. Not only does it give residents a more convenient way to charge their EVs, but it also has environmental and economic benefits. In this article, we will explore these benefits. We also introduce our leading EV charging solution "CURRENT," which provides a simple and efficient way to manage multiple charging stations in apartment buildings.

 

ENVIRONMENTAL BENEFITS 

Reducing greenhouse gas emissions is a key challenge for our society today. Electric cars are considered one of the most promising solutions to achieve this goal. When apartment buildings offer EV charging, they encourage residents to choose environmentally friendly transportation options. This helps to reduce local air pollution and dependence on fossil fuels. Let's explore the environmental benefits of EV charging in condominiums in more detail: 
 
  • Reduced greenhouse gas emissions: EVs are significantly more environmentally friendly than gasoline and diesel vehicles because they do not produce local emissions, such as nitrogen oxides and particulate matter. This helps to improve air quality and reduce health problems in the local environment.
  • Lower climate footprint: When EVs are charged with clean energy, such as solar or wind power, the carbon footprint is further reduced. This helps society move towards lower carbon emissions. 
  • Promote a green lifestyle: By offering EV charging, apartment complexes encourage residents to choose more environmentally friendly transportation options. This can lead to a positive change in residents' behavior and lifestyle, which can have long-lasting benefits for the environment

 

ECONOMIC BENEFITS 

The finances of apartment complexes can also benefit from EV charging. A report from the Norwegian Electric Vehicle Association shows that those who own electric cars have lower annual costs compared to those who drive gasoline or diesel cars. By offering charging in apartment complexes or apartment buildings, residents can reduce their own fuel costs while increasing the value of their properties. In addition, there can be financial incentives for the apartment complex itself that can significantly reduce the cost of implementation. Let's explore the financial benefits of EV charging in apartment complexes in more detail:
 
  • Reduced fuel costs: EVs are generally more energy efficient and less expensive to run compared to traditional gasoline and diesel vehicles. This results in lower fuel and maintenance costs for residents.
  • Increased property value: Apartment complexes that offer EV charging can experience an increase in property value. Potential buyers and tenants see the presence of charging stations as an attractive feature, which can increase demand for the homes.
  • Support and incentives: Many local authorities and governments offer incentives, subsidies and tax benefits to promote EV charging. This can further reduce the installation and operating costs of charging stations.

 

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PRACTICAL BENEFITS 

Convenience is an important part of the equation when it comes to EV charging in apartment complexes and apartment buildings. Residents get a more convenient way to charge their EVs without having to search for public charging stations. This increases convenience and can be a key selling point for potential buyers or tenants. Let's explore the practical benefits of EV charging in apartment complexes in more detail:

  • Convenience for residents: Having charging stations at the apartment building  gives residents a convenient way to charge their EVs. They no longer have to search for public charging stations or worry about accessibility or having to move the car when it's fully charged.
  • Charging station management: Modern solutions like CURRENT simplify the management of charging stations. Board members and property managers can easily monitor, manage billing and schedule maintenance on a centralized platform.
  • Increased attractiveness: Residents that offer EV charging become more attractive to a wide range of residents, including those who already drive electric cars and those considering a transition to electric transportation.



CURRENT: THE LEADING EV CHARGING SOLUTION for Residential charging

As a recognized industry expert, we are proud to introduce "CURRENT" as the ideal EV charging solution for apartment complexes. CURRENT offers a comprehensive and user-friendly platform for managing charging stations. It gives you the ability to monitor, invoice and manage all charging stations in one place, reducing the administrative burden and giving residents a seamless charging experience. 

  

CONCLUSION

EV charging in apartment complexes offers significant environmental, economic and practical benefits. With an ever-increasing number of electric cars on the road, it's time for the residens in apartment buildings to consider implementing EV charging solutions like CURRENT. Not only will this contribute to a greener future, but it can also increase property value and resident satisfaction. Take the step towards a sustainable and convenient future with CURRENT. 

Book a demo with one of our experts to learn how CURRENT can help you quickly establish and manage EV charging in your apartment complex!