As electric vehicles (EVs) become more popular, the demand for EV charging stations is also growing. For commercial building and apartment block managers, installing an EV charge bank can be a great way to attract tenants and customers, as well as contribute to a more sustainable future. In this blog, we will answer 5 frequently asked questions about EV charge banks and also highlight 6 unexpected benefits to their business.
Frequently Asked Questions about EV charge banks
Installing an EV charge bank in commercial buildings and apartment blocks can offer numerous benefits, including attracting tenants/customers, promoting sustainability, and increasing property value. In this section, we answer five frequently asked questions about EV charge banks, including what they are, how much they cost, and who pays for the electricity used to charge the vehicles.
What is an EV charge bank?
An EV charge bank is a group of charging stations designed for the specific purpose of charging electric vehicles. It consists of multiple charging stations, typically installed in a carpark or garage. These charging stations are equipped with the necessary technology to safely and efficiently charge electric vehicles.
How much does it cost to install an EV charge bank?
The cost of installing an EV charge bank can vary depending on a number of factors, including the size of the bank, the number of charging stations, and the level of charging capacity. However, on average, installation costs can range from $4,000 to $10,000 per charging station.
Who pays for the electricity used to charge the EVs?
The cost of electricity used to charge the EVs can be paid for by the driver or by the building/apartment manager. Many managers choose to charge a fee for the use of the charging stations to cover the cost of electricity and maintenance.
What are the benefits of installing an EV charge bank?
Installing an EV charge bank can provide numerous benefits, including attracting tenants/customers, promoting sustainability, increasing property value, and reducing greenhouse gas emissions.
How do I maintain the EV charging stations?
EV charging stations require minimal maintenance, but it is important to keep them clean and free of debris to ensure safe and efficient charging. Routine inspections, by a licensed electrician, should also be conducted to check for any damage or malfunctions.
Unexpected Benefits of EV charge banks
So you’re considering installing a bank of electric vehicle chargers in your tenancy or business and you’re wondering what other possible benefits, other than meeting demand, could be. Keep reading.
Increased Revenue: Charging fees can generate additional revenue for commercial buildings and apartment blocks.
Tenant Retention: Installing an EV charge bank can help retain tenants and attract new ones who value sustainability.
Improved Public Image: Being environmentally conscious can help improve a company’s public image and reputation.
Competitive Advantage: Offering EV charging stations can give commercial buildings and apartment blocks a competitive edge over those without charging capabilities.
Increased Property Value: Properties equipped with EV charging stations can increase in value and demand.
Reduced Liability: Installing EV charging stations can help reduce the liability associated with EV drivers seeking alternative charging solutions, such as using unsafe or incompatible outlets or cabling.
Installing an EV charge bank can provide numerous benefits to commercial buildings and apartment block managers. Not only can it help attract tenants/customers and promote sustainability, but it can also provide unexpected benefits such as increased revenue and property value, improved public image, and reduced liability. As the popularity of electric vehicles continues to grow, investing in EV charging stations can be a smart and profitable decision for any business.
If you are a commercial building or apartment block manager interested in installing an EV charge bank, don’t hesitate to contact DCN Electrical. Our team of experts can help you design and install a customized EV charging solution that meets your needs and budget. With years of experience in the electrical industry, we are committed to providing the highest quality service and products. Contact us today to schedule a consultation and take the first step towards a more sustainable and profitable future.