As more and more Americans purchase electric vehicles (EVs), property developers are now investing heavily into fast and reliable EV charging infrastructure and turning to network operators, like Chargie, for their new construction and existing property installations. On top of growing regulations around EV charging stations, property development companies are discovering that installing EV chargers sooner than later is not only saving money on installation costs but also building long term value for their portfolios. Here are some of the reasons why property development companies are now installing EV charging stations at new construction and redevelopment properties.
Meet local, state and IECC EV charging infrastructure requirements for new construction properties
Numerous studies have shown the cost to install EV charging infrastructure is substantially less when done in the new construction phase of a property versus retrofitting the infrastructure after a property is built. Because of this, the benefits to residents / tenants, and EVs’ contributions to reducing GHG emissions, many states and local governments have added EV charging provisions to their building codes, zoning requirements, and local ordinances for new single family homes, multi-family dwellings and commercial properties.
Most states have adopted the IECC (International Energy Conservation Code) which provides the minimum building requirements when it comes to new property construction. State, county, and city governments will then enforce even higher standards if needed. Looking at the 2024 IECC codes, they break down EV charging infrastructure when applied to parking spaces into 3 major categories: EV capable, EV ready, and EVSE installed. The IECC code, depending on the property type, requires up to 20% of spaces at a property to be EVSE installed, 5% EV ready, and 75% EV capable. States and local governments, like San Jose CA, take this one step further requiring 100% of residential parking be EV ready and the State of Illinois requires all housing type parking be 100% EV capable.
EV Capable
Installation of electrical infrastructure required to support an EV charging station in the future.
EV Ready
Installation of electrical infrastructure as well as a 240-volt charging outlet.
EVSE Installed
Installation of electrical infrastructure as well as a Level 2 charging station.
Learn more about IECC EV infrastructure requirements
Futureproof properties for rising demands in EV charging
Many property owners are seeing the drastic boom in EV sales as a sign to future proof their properties for the incoming demand for EV charging from residents and tenants. The U.S. market share of EV sales and registrations is growing year over year at exponential rates. Residents and tenants want to be able to charge their new EVs at home or at work and are looking to multifamily and commercial property owners to provide this service. Many multifamily and commercial property development companies are investing in EV charging infrastructure to not only appease their current and future renters but also ensure higher property valuations, maintain market competitiveness and reduce future costs. In combination with cost savings from installing EV infrastructure during the construction phase, there are currently rebates, incentives, and grants available to save even more. When breaking down all the cost savings and value add – the installation of EV charging stations is an easy decision.
Plug into EV charger rebates, incentives and grants
While property developers have to build EV charging infrastructure to meet IECC and local building code requirements, many are opting to install above and beyond these requirements to save money on future installation costs through available rebates, incentives, and grants. To drive and support EV adoption, many utilities and local and state municipalities have programs providing funding for the purchase and installation of EVSE and EV charging infrastructure. Many of these programs allow property owners and developers to save hundreds of thousands to millions of dollars on the installation of EV charging stations. Some of the biggest rebates and incentive programs are offered by utilities like Los Angeles Department of Water and Power (LADWP), Southern California Edison (SCE), Sacramento Municipal Utility District (SMUD), Nevada Energy (NVE) and Rocky Mountain Power (RMP) while grants are funded through state and federally funded programs like REACH 2.0 or the CFI Grant Program.
Save on project costs with Chargie
Chargie has saved property owners, managers, and developers over $100M in EV charging stations and installation costs. Rebate, incentive and grant programs are extremely popular and funding is typically allocated on a first come first served basis. Utilize Chargie’s turnkey solution and program experts to secure maximized project funding as soon as possible. With over 18,000 chargers installed nationwide, Chargie is trusted by some of the largest property owners, developers, and managers in the U.S.
Why property developers trust Chargie
Fast, reliable charging for drivers
We provide EV drivers fast, reliable charging through our network of Level 2 and Level 3 charging stations. Our 98%+ network availability ensures drivers come back to a fully charged car and our 24/7/365 support allows us to help at every turn along the way.
Easy turnkey installation for property development companies
Add value, not work, with our turnkey EV charging solution. Our in-house teams provide properties with end-to-end project management, installation, and ongoing operations and support. We’ll even do all the rebate paperwork and applications for you. Reach out to our team of EV infrastructure experts for a free installation evaluation.
