Are people moving out because their buildings don’t have EV charging stations?

Could your Strata building be at risk of losing residents because you don’t have EV charging stations available for drivers to use?

Intro

EV drivers have a strong sense of community and are proud to be a part of the electric driving group. They show clear loyalty to places that have EV charging stations as it aligns with their values and also provides convenience. But could they now be fostering negative feelings towards buildings that do not offer these services? Are EV charging stations so important to them that they will make significant lifestyle changes in order to have easier access to this amenity?

That's what we'll be discussing today. If EV charging stations are so essential to electric drivers that they are willing to change their living arrangement to buildings that can provide this service, just to charge their cars more conveniently.

No Plan to Add EV Charging Stations

I spoke to a gentleman today who said he was moving apartments because his building didn't have EV charging stations. The part that bothered him the most was that he spoke to the strata council, and they responded that they had no interest in even considering a plan to add EV charging stations anytime soon.

The Problem - Limited EV Charging Stations

He said that the nearest EV charging station to his apartment was kilometers away. He just had a child and has limited time to spare after work. The last thing he wants to do is sit in a random parking lot when he could be spending time with his new baby. This begs the question: is this gentleman an outlier, or are there others who feel the same?

Let's explore the factors that may be influencing people's decision to make the move.

Strata's Making a Decision on EV Charging Stations

Installing EV charging stations in strata buildings is no small feat. It’s a very lengthy process. In my experience, it often takes anywhere from six months to a year. This is largely due to many individuals on the strata council who often disagree, making it difficult to reach a conclusion. This isn't always the case, but with many people come many different opinions.

Strata Fund for EV Charging Stations

Strata buildings require owners to pay a monthly fee called a “strata fee”. The money collected each month contributes to a fund which is put towards investments in the building. There are actually two funds - the operating fund and the contingency reserve fund. The project cost to install EV charging stations in a strata building would come out of the contingency reserve fund.

I go into more detail about the strata voting process in another post here.

Gas Car Drivers Won't Pay for EV Charging Stations

Most strata buildings have at least a few residents that drive electric cars but still the vast majority still rely on gas vehicles. The cost of installing EV charging station projects, particularly those involving a full electrical upgrade and installing an EV charging station in every parking stall, can easily exceed $100,000. Due to this, strata councils often hesitate when they see these numbers. At this point in time, it's understandable to hear the reluctance to contribute to the costs associated with EV charging station installation.

Visitor Parking EV Charging Stations

A middle-ground solution would be to to install some EV charging stations in visitor parking to be used as communal chargers. If any residents have an electric car, they can drive up from their stall, park in the visitor parking for a while to charge, and when powered up, drive back down to their own resident stall.

EV Charging Stations in Public are More Expensive

EV drivers that don’t have their own EV charging stations at home often end up spending significantly more money at public EV charging stations. The electricity used at these stations often come with a substantial markup added by the hosts to ensure they make a profit. This leaves EV drivers at the mercy of the pricing set by the nearest host for using their charging stations.

Parking Fee at Public EV Charging Stations

Also, sometimes drivers may need to pay a parking fee for the time their car is parked at the EV charging stall. Electricity costs will continue to increase, so having access to your own EV charging station at home with the most affordable power possible becomes increasingly valuable.

Charging their EV’s has Stolen Valuable Time

Charging an electric vehicle can take a considerable amount of time. Not to mention, the time is usually spent sitting in a random parking lot after work. The task of charging an EV is tedious and time-consuming. Consequently, the majority of EV drivers (around 80%) prefer to charge their vehicles at home, ideally overnight, to minimize inconvenience. This allows them to rest as their car charges.

Family Over Charging

If an EV charging station is readily available in their parking stall at home, drivers could spend this time with their family while their car charges. The convenience factor of being able to charge an EV at home can increase family time which would be a strong motivator to relocate to a different building that offers this amenity.

City Centres

Over the past year, a large majority of my time has been spent trying to identify the downtown buildings that do not have EV charging stations. The purpose is to assist in their installation if they are interested and need help. I have dug through numerous lists of strata buildings and am still surprised at my findings.

Still Vast Minority

On average out of 100 buildings, fewer than 10 currently have EV charging stations installed. Keep in mind this is based only on the buildings I've spoken to. Other reports state that only about 5% of the buildings in the downtown sector currently have EV charging stations. Even more startling, however, are those buildings without EV charging stations that aren't even planning to install any.

Wrapping Up

In summarize, the lack of EV charging stations in Strata buildings is more than just an inconvenience; it's a deal-breaker for many residents. To my surprise, it has even reached the point where people are willing to move apartments to have closer access to EV charging stations. This will certainly come as a shock to Strata councils when they see more and more people moving out of their buildings to find ones with EV charging stations.

If they want to attract new residents and keep the money in their contingency fund at healthy levels through Strata fees, they might want to consider accommodating the requests of EV drivers. Not to mention, EV charging stations could be another form of revenue to replenish these funds after the projects are completed.

If anything comes to mind, I’m happy to help.

So long,

Strong Energy