August 2015 — Property Management Quarterly —
Page 25
E
lectric vehicles are catching
on quickly, with over 300,000
sold in the last four years and
adoption rates significantly
higher than what the first
hybrids experienced a little over a
decade ago. There are now dozens of
models to choose from and more on
the way from virtually every auto-
maker. In fact, BMW, Mercedes-Benz
and Audi all declared that every one
of their models will have a plug-in
option before long.
EV drivers love their cars because
they are fun to drive, good for the
planet and cost significantly less on
a cost-per-mile basis than the gas
counterparts. And in Colorado we
have one of the best purchase or
lease incentives in the country with
electric car buyers qualifying for up
to $6,000 in a refundable state income
tax credit.
As a result, properties across the
country, from retail to offices to mul-
tifamily, are starting to accommodate
this fast-growing group of drivers.
Thankfully Colorado also has one of
the strongest incentives for EV infra-
structure.
The Charge Ahead Colorado grant
program, administered jointly by the
Regional Air Quality Council and the
Colorado Energy Office, allows busi-
nesses, municipalities and nonprofits
to receive up to 80 percent of the cost
to install an EV charging station, with
a cap of $3,260 per single-port Level 2
station and $6,260 per dual-port sta-
tion.
There are three levels of charg-
ing speed. Level 1 is a trickle charge
at 110 volts that gives the driver
about 3 to 5 miles of range per hour
plugged in. Level 2
is 240-volt charging
that gives drivers
between 10 and
25 RPH, depending
on the car and the
charging station
used. And the last
level of charging,
DC Fast Charge, is
named appropri-
ately because driv-
ers can get between
100 and 200 RPH.
In addition to the
Level 2 grant opportunities, Charge
Ahead Colorado offers up to $13,000
per single-cord DC Fast Charger and
up to $16,000 per dual-cord unit (or
up to 80 percent of the project cost).
Because of the higher cost of DC Fast
Charging and the slow charge rate of
Level 1, Level 2 is the common charg-
ing speed in most commercial set-
tings.
Equipment cost for Level 2 can
vary greatly, with commercial units
ranging from under $2,000 for a
single-plug “dumb” unit to $8,000 for
a dual-plug “smart” networked unit
that allows the station owner to col-
lect revenue from drivers, control
access and access detailed reporting.
It should come as no surprise that
installation costs vary greatly, but the
national average is in the neighbor-
hood of $4,000 per station.
For many properties the decision
is easy. There is compelling data that
shows EV drivers stay longer and
spend more at retail destinations
that offer low-cost or free charging.
For multifamily housing, EV charg-
ing quickly is becoming a manda-
tory amenity, because an electric car
owner either can rent at a property
with a charging station or will have to
look elsewhere.
The biggest impact, however, comes
at the workplace. The Department
of Energy found that employees at
businesses with charging stations
installed are 20 times more likely to
consider an electric car for their next
car purchase. A number of offices in
the Denver area found that one sta-
tion becomes two stations within a
year, and two becomes four. Because
of this, it is recommended that extra
conduit is added whenever a property
is installing the first station.
There typically are three or four
rounds of Charge Ahead Colorado
grant funding each year. The next
application cutoff is Aug. 17, with
the next deadline expected in late
November or December, and another
is scheduled in early spring.
The Regional Air Quality Council
manages the grant program in the
seven-county Denver metro area,
while the Colorado Energy Office
manages the program for the rest of
the state. Details for both programs,
including a link to the online applica-
tion form and a sample application,
can be found at
.
org/programs/charge-ahead-colorado.
If you are considering the benefits
of adding EV charging to your proper-
ty, now is the ideal time to take action
while grant funds are still available.
s
Jim Burness
CEO, National Car
Charging, Denver
Vendor Trends
Photo courtesy ChargePoint
Employees at businesses with charging stations are 20 times more likely to consider an
electric car for their next car purchase, according to the Department of Energy.
