How Multifamily Properties are Integrating Smart, Networked EV Charging Systems Without Upfront Costs
Multifamily
In the dynamic landscape of electric vehicle (EV) charging, multifamily properties are strategically incorporating smart, networked charging systems to meet the growing demand for EV charging solutions without the need to contribute upfront costs. By leveraging innovative financing solutions and subscription-based, monthly billing programs, homeowner associations and property owners are able to take a forward-looking approach, increase the value and attractiveness of their properties and ensure a seamless integration of EV charging while accommodating financial constraints.
Humm Energy, a pioneering company in this field, offers a comprehensive turn-key service, handling all aspects from design, installation (including electrical improvements), operations, maintenance and billing without requiring property owners to invest upfront capital. As a result, homeowner associations and property owners are able to harness all the advantages that smart, networked charging systems and provide their residents with a seamless and affordable charging experience, without affecting budgets or requiring special assessments.
For example, Humm has partnered with Windrose Tower, the premier residential high-rise tower located in Plano, Texas’ Legacy West development. Utilizing our innovative financing solution, Humm installed a total of 34 smart, networked charging stations, and designed the system to readily accommodate the installation of at least 74 charging stations throughout the parking garage. Humm also added Wi-Fi throughout the parking garage which allows EV drivers and others to easily perform software updates for their vehicles.
Steven Bolos, Board President at Windrose Tower, said: “Thanks to Humm’s complete and robust solution, we have added yet another luxury item to our Windrose Tower community. Humm's unique approach to achieving personal charging stations for residents made it a no brainer to partner with them in this venture. They solved the big issue that most HOA's face of not having resources to take on this type of project. In addition, we as participating residents believe this has increased our individual real estate values. We are pleased to say that the challenges confronting EV drivers in high-rise communities, no longer exists at The Windrose Tower.”
Windrose Tower
“Humm's unique approach to achieving personal charging stations for residents made it a no brainer to partner with them in this venture. They solved the big issue that most HOA's face of not having resources to take on this type of project.” - Steven Bolos, Board President at Windrose Tower
It is critically important that homeowners associations and property owners are forward thinking and embrace the best available technology when considering the incorporation or replacement of an EV charging system. As mentioned, there are significant advantages of a smart, networked charging system, such as:
Dynamic Load Sharing
One of the key advantages of a smart, networked system is its ability to load share intelligently, distributing the electrical load among groups of charging stations. This results in a significant reduction in the required electricity capacity, serving a greater number of charging stations—often two to three times more—without compromising on charging speeds and performance. This not only leads to substantial savings in electrical infrastructure upgrades but also has the potential to negate the need for a larger electrical service in the building.
Remote Monitoring and Operational Control
Real-time monitoring and operation of charging stations are essential features of a smart, networked system. These capabilities enable the tracking and metering of each resident's usage, access control, system upgrades, time-of-use limitations to reduce demand charges, and remote maintenance. Additionally, billing based on actual usage ensures a fair and equitable distribution of costs among residents, eliminating the pitfalls of a flat-rate system with winners and losers.
Wi-Fi Connectivity
A critical component of a smart, networked system is the requirement for Wi-Fi coverage throughout the parking facility. Although initially perceived as a potential drawback, this aligns with the increasing trend among smart cars, following the Tesla approach, to perform software updates directly via Wi-Fi connections. Residents' growing reliance on internet connectivity for their vehicles underscores the necessity of this feature.
Modular Design and Expansion
The modular nature of a well-designed smart, networked system allows for scalability over time. Uniformity in design and function of charging stations prevents the creation of a convoluted electrical conduit network installed by various contractors, potentially unfamiliar with the charging station specifications and using different brands. This streamlined approach ensures a cohesive and efficient EV charging infrastructure.
In conclusion, the integration of smart, networked EV charging systems in multifamily properties represents a forward-thinking solution to the surging demand for electric vehicle infrastructure. Through innovative financing models and subscription-based billing programs, companies like Humm Energy are enabling property owners and homeowner associations to embrace this technology without the burden of upfront costs, to enhance the value and appeal of their properties, and at the same time contribute to the broader transition towards sustainable transportation.