The rise in both electric vehicle (EV) use and strata living in NSW means strata managers / owners corporations face demand for electric vehicle chargers on property. In this article we examine the impact of strata electric vehicle chargers.
As the race to meet net zero emission targets takes place, people are doing their bit by using electric vehicles to reduce their carbon footprint. Additionally there is impetus from rising fossil fuel prices. The price of fuel means that electricity is a much more economical option for powering cars and trucks, especially if that electricity comes from renewable energy sources.
Simultaneously, more Australians are making the move to living in a shared ownership property. As of the 2016 census, 10% of us lived in a unit, flat, or apartment.
What happens when these two trends meet each other? Strata electric vehicle chargers are now a hot topic.
What are the issues with strata charging facilities?
Should you install in:
Common areas such as visitor parking spots?
Or in individual owner parking spots
What will be the electrical demand?
What will be the capital cost?
Your next concern would be software to either charge the users for the electricity use or somehow attribute it back to their unit.
You may also have safety concerns. Could the charger or the EV catch fire? This may mean that you have to put into place fire protection management.
What are the benefits of offering strata EV chargers?
The first is obviously satisfying the demand for EV charging from the strata unit owners.
Opportunities for beneficial outcomes for the owners corporation also arise, such as the potential to raise revenue. You may choose to add a margin to what you pay your power provider and charge that to the unit owners. So, there is also a windfall in the actual charging itself.
You may also want to consider the potential for Vehicle to Grid (V2G), which is where the batteries in EVs can be of use to actually supplying power to the premises. In an uncertain energy environment, this capability may become crucial.
How to satisfy the demands from owners in the strata for EV charging facilities
Contact us today. We are the experts in EV chargers and dealing with the problems that strata managers and owners’ corporations have. You may also want to see this comprehensive document from the NSW State Government on strata and EV.
How you can profit from charging your owner’s electric vehicles
However, some strata corporations choose to add a margin to what they pay their power provider and charge that to their owners.
Generally, the net revenue from a charger is around $3 to $6 per hour.
Assuming the device is in use 10 hours per day, that’s $60 for the day. Assuming 300 days per year, our total means $18000 per annum per charger. These are all assumptions of course, but looks like it could be a winner once EV uptake really gets traction.
If you have access to renewable power, then you can generate even more revenue. For example, if you have solar panels on the roof of your premises.
See our EV charger ROI article for more information.
However, keep in mind that ultimately we’re all using EVs because we want to do our bit for the environment.
Is the EV charger revenue calculated from AC or DC chargers?
In this example, we are talking about AC chargers, either 7kW or 22kW capacity. We are assuming that the most that can be delivered is 11kW per hour. Currently (forgive the pun!), no vehicles can charge greater than 11kW from an AC charger.
However, DC fast chargers can supply a lot more. One of these can charge at up to 350 kW, if a car is capable of handling it. That means that they can add 350 km of range in as little as 10 minutes of charging!
However, in the overnight charging scenario that most strata electric vehicle chargers would be, a DC fast charger would be using a sledgehammer to crack a walnut.
What do chargers usually bill per kWh?
The charge out rate varies between $0.25 to $0.40 per kWh.
What would be the life expectancy of a charger?
The return on investment on an electric vehicle charger will also experience an impact from the life expectancy of a charger. In such a rapidly moving field, obsolescence may be an issue. However solid kit could last 10 years unless vandalism or user error wrecks a unit.
As EV chargers are relatively new, we cannot be sure how long they will last without some servicing. Typical components are Printed Circuit Boards (PCBs) and a contactor[1]. The plug socket may become worn with constant use and need replacing.
One EV charger manufacturer, Ocular, offer extended warranties of up to 5 years.
Contact us about strata electric vehicle chargers
Contact us today to find out what your strata EV charger scenario might be. Once that is done, we can provide you with some estimates as to what it might cost to install strata electric vehicle chargers.
[1] A high-voltage contactor, also called a high-voltage relay, has wide used in electric vehicles. It’s an electromechanical switching device with a coil that generates a magnetic force to mechanically operate an electric contact.
