How Property Owners Can Take Advantage of the Upcoming Electric Vehicle Revolution

Commercial Real Estate Owners are going to observe a significant change at their properties over the next 3 years.  Refuel Electric Vehicle Solutions (or REVS), a Houston-based electric vehicle charging station (EVCS) startup, predicts that multi-famliy owners will see the strongest impact of transformation with more of their residents driving electric vehicles (EVs).  Due to the pledge by automobile manufacturers to shift their production lines to creating EVs and the consumer attraction of cost-savings from driving EVs, more residents are demanding that EV charging stations be installed in their complex.  With many multi-family property owners and managers beginning to retrofit their properties with EVCS, REVS mission is to work with property owners and managers to deploy, manage, and finance EVCS so the properties can keep up with consumer demand.

US EVs (BEV & PHEV) Sales & Sales Share Forecast: 2021-2030
Image Sourced from EVAdoption.com: https://evadoption.com/ev-sales/ev-sales-forecasts/
Founded by commercial real estate veteran, David Aaronson, and his son, Mike, REVS provides turn-key solutions for commercial real estate portfolios across the United States.  With 80% of EV owners currently refueling their vehicles at home, REVS offers special deals to property owners and managers to provide comprehensive knowledge and complete solutions on electric vehicle charging station deployment and management. Staffed with real estate, technology, and electrical experts, REVS’ goal is to provide experience and knowledge on all the facets and items that are important to owners, managers, and residents in establishing and operating EV charging stations. Some of the main services in REVS turn-key solution include:
  • Electrical capacity analysis of property to determine infrastructure necessary for EVCS deployment
  • Research and application management of grants & financial incentives to reduce costs
  • Coordinate & work with electrician and property management to install the station(s)
  • Post-installation management of the stations, including data collection & reporting requirements

With the increasing adoption of consumer electric vehicles comes a centurial opportunity to generate a new stream of income for owners of commercial real estate portfolios.  REVS believes this unique transition is especially true for owners and investors of multi-family complexes.  Due to the dominating practice of EV owners refueling their vehicles at home, the idea of providing electricity to recharge their battery at home will provide property owners with a steady source of revenue from their resident’s parking.  In addition to the revenue generated from EVCS usage, charging stations may generate additional income by reselling carbon credits in certain areas of the country.

EV Infrastructure Technicalities & Correlations with EV Batteries

Level 2 charging stations are best suited to be placed in multi-family complexes. Depending on the amount of electricity and strength of the charging station, Level 2 stations will provide 20 to 60 miles for an hour of charging.  The standard Level 2 charging station deploys an average of 7.2kW/h on a 40-amp circuit.  While these charging stations were sufficient to refuel first-gen electric vehicles, many EVs on US roads today (including newer models in production) can already accept a faster charge.  In fact, many of the current, newer-generation EVs can already accept a charge-range of 9.6 to 11.2 kWh. 

As electric vehicle onboard charging capacity (the amount of power that a car can accept per hour) steadily increases, EV charging stations need to meet the demands of the newer vehicles being manufactured.  In other words, charging stations need to keep up with the power demands of the cars on the market.

Utilizing industry norms for driving, an electric vehicle will need 25-30 hours a month of charging capacity.  A single EV can generate at least $60 in revenue per month, when it is deployed on a commercial property or multi-family complex.  REVS believes that a single charging station can, and will, serve up to 10 electric vehicles.

REVS’ data implies that EV charging stations can generate a positive return by servicing only 4 electric vehicles. (subject to the make-ready expenses of providing, or upgrading, the existing electrical infrastructure to supply electricity to the charging station). 

REVS currently offers 3 options to owners who want to deploy and/or host EV charging stations on their property:

  • REVS will sell, install, and manage the station(s)
  • REVS will lease equipment and install and manage the station(s)
  • REVS will own the station(s), many times at no expense to the owner, and provide a share of revenue to the property owner

REVS mission is to work with property owners to develop this new income stream and leasing incentive by effectively installing “modern gas stations” on existing properties.  The good news is that installing an EV charging station on your property requires significantly less capital than a gas station but will generate additional income just like the refueling stations for current ICE (internal combustion engine) vehicles on the road.

Refuel Electric Vehicle Solutions aims to provide seamless EVCS solution to properties across the US while maximizing your return and minimizing costs.  For more information, please visit the REVS website at www.refuelevs.com.